ANNUAL REPORT 2019
Ministry of Finance Sri Lanka
ANNUAL REPORT 2019
MINISTRY OF FINANCE SRI LANKA THIS FINAL BUDGET POSITION REPORT, ANNUAL REPORT 2019, IS PUBLISHED IN TERMS OF SECTION 13 OF THE FISCAL MANAGEMENT (RESPONSIBILITY) ACT, NO. 3 of 2003
ISBN 978–955–0814–28–2
Printed at Softwave Printing and Packaging (Pvt) Ltd, 107 D, Havelock Road, Colombo 05 and published by the Ministry of Finance, The Secretariat, Lotus Road, Colombo 01, Sri Lanka. MINISTRY OF FINANCE (AS AT 30TH APRIL 2020)
Hon. Mahinda Rajapaksa, M.P. Minister of Finance, Economic and Policy Development
Hon. Shehan Semasinghe, M.P. State Minister of Development Banks and Loan Schemes*
PRINCIPAL OFFICIALS S.R. Attygalle Secretary, Ministry of Finance, Economic and Policy Development Secretary to the Treasury
A.K. Seneviratne Deputy Secretary to the Treasury
R.M.P. Rathnayake Deputy Secretary to the Treasury
P. Algama Deputy Secretary to the Treasury
H.G. Sumanasinghe Additional Secretary
H.H. Kasthuriarachchi Director General
D.D. Mataraarachchi Secretary, State Ministry of Development Banks and Loan Schemes*
* AS AT 31ST DECEMBER 2019 HEADS OF TREASURY DEPARTMENTS (AS AT 30TH APRIL 2020)
Department of National Budget Department of Trade and Investment Policy S.D.J. Nilukshan K.A. Vimalenthirarajah Actg. Director General Director General
G.M.J.K. Gunawardana M.K.P. Kumara Additional Director General Additional Director General Ms. M. Anoma Nandani Additional Director General Comptroller General’s Office Ms. K.A. Ramya Kanthi Department of Public Enterprises Actg. Comptroller General P.A.S. Athula Kumara Actg. Director General Department of Development Finance Ms. K.G.K. Wimalaweera Ms. D.C.W. Hapugoda Director General Additional Director General K.A.S.S.K. Perera P.H.A.S. Wijayarathne Additional Director General Additional Director General Department of Public Finance Sunil Galagama Ms. J.C. Weligamage Additional Director General Actg. Director General Department of Management Services Ms. Hiransa Kaluthantri S.U. Chandrakumaran Actg. Director General Additional Director General
A.M.P. Arampath E.A. Rathnaseela Additional Director General Additional Director General
Department of Fiscal Policy Department of Treasury Operations M.K.C. Senanayake R.M.A. Ratnayake Actg. Director General Director General
J.M.R.P. Jayasinghe H.C.D.L. Silva Additional Director General Actg. Additional Director General
Ms. M.K.D.N. Madampe R.M.D.K.G.N.B. Ranatunga Additional Director General Actg. Additional Director General
Department of State Accounts Ms. K.D.R. Olga Director General
T.N. Ossen Additional Director General HEADS OF TREASURY DEPARTMENTS (AS AT 30TH APRIL 2020)
Department of Information Technology Department of National Planning Management R.H.W.A. Kumarasiri A.V. Janadara Director General Actg. Director General K.D.S.R. Perera S. Giridaran Additional Director General Additional Director General Ms. C.S. Perera Department of Legal Affairs Additional Director General Director General Ms. J.S.S. Rupasinghe Department of External Resources Additional Director General D.A.P. Abeysekera Director General Ms. M. Gangatharan Additional Director General M.M. Noufal Additional Director General J.M.S.D. Rathnayake M.A.L.S.N.K. Manthreenayake Additional Director General Additional Director General Government Auditor Department of Project Management and S.M.D.S.S. Rohitha Monitoring Deputy Auditor General Ms. P.K.A.D. De Silva Director General
N.S.M.P. Ranjith Additional Director General
M.H.M. Zameel Additional Director General
S.M. Dayarathna Additional Director General
Ms. K.D.A. Munasinghe Additional Director General
Department of Management Audit Ms. S.A. Chandrika Kulathilake Actg. Director General
A.N. Hapugala Additional Director General HEADS OF DEPARTMENTS UNDER THE PURVIEW OF THE MINISTRY OF FINANCE (AS AT 30TH APRIL 2020)
Department of Inland Revenue Nadun Guruge Commissioner General of Inland Revenue
Department of Sri Lanka Customs G. Vijitha Ravipriya Director General of Customs
Department of Excise A. Bodaragama Commissioner General of Excise
Department of Valuation Ms. P.D.D.S. Muthukumarana Chief Valuer
Department of Census and Statistics Ms. I.R. Bandara Director General
Department of Imports and Exports Control Ms. T.V.D.D.S. Karunarathne Controller General
Department of Commerce Nimal Karunatilake Director General of Commerce
Department of Registrar of Companies D.N.R. Siriwardena Registrar General of Companies HEADS OF STATUTORY BOARDS / OTHER INSTITUTIONS UNDER THE PURVIEW OF THE MINISTRY OF FINANCE (AS AT 30TH APRIL 2020)
Sri Lanka Insurance Regulatory Commission Hotel Developers (Lanka) PLC Razik Zarook J.M.U.P. Jayamaha Chairman Chairman
Sri Lanka Accounting and Auditing National Lotteries Board Standards Monitoring Board Lalith Piyum Perera Ms. K.M.A.N. Daulagala Chairman Chairperson Development Lotteries Board Public Service Mutual Provident Association Ms. Nalini Abeywardhana R.A.T.A. Ranaweera Chairperson President Sri Lanka Insurance Corporation Ltd Lady Lochore Loan Fund Jagath Wellawatta S. Winston Pathiraja Chairman Chairman Litro Gas Lanka Ltd Tax Appeals Commission Anil Koswatta Justice Hector Yapa Chairman Chairman National Insurance Trust Fund Sri Lanka Export Credit Insurance B.K.R. Balasooriya Corporation Chairman A.H. Wijesiri Ambawatta Chairman & Managing Director Miloda (Academy of Financial Studies) Anura Lokuhetti Securities and Exchange Commission of CEO Sri Lanka Viraj Dayarathne People’s Bank Chairman Sujeewa Rajapakse Chairman Credit Information Bureau of Sri Lanka Bank of Ceylon C.J.P. Siriwardena Kanchana Ratwatte Chairman Chairman
Public Utilities Commission of Sri Lanka Sri Lanka Savings Bank Prof. Kithsiri Liyanage H.N.J. Chandarasekara Chairman Chairman
National Savings Bank Ms. Keasila Jayawardane Chairperson HEADS OF STATUTORY BOARDS / OTHER INSTITUTIONS UNDER THE PURVIEW OF THE MINISTRY OF FINANCE (AS AT 30TH APRIL 2020)
Central Bank of Sri Lanka Prof. W.D. Lakshman Governor
Regional Development Bank J.T.S. Prasanna Kariyawasam Chairman
Sri Lankan Airlines Ltd Ashok Pathirage Chairman
State Mortgage & Investment Bank Udaya Sri Kariyawasam Chairman CONTENTS
Part I: Macro-Fiscal Perspectives
CHAPTER 1 : Developments in Fiscal Policy, Strategy and Challenges 03
1.1 Overview 04 1.2 2020 Fiscal Operations 12 1.3 The Way Forward 14 1.4 Medium-Term Strategy and Outlook 2020 – 2024 17
CHAPTER 2 : Economic Developments in 2019 19
2.1 Overview 20 2.2 Sri Lankan Economy 20 2.3 External Sector 31 2.4 Monetary Sector Developments 37 2.5 Inflation 39 2.6 Employment and Unemployment 40 2.7 Equity Market Developments 40 2.8 Global Economic Environment and Prospects 41
Part II: Final Budget Position
CHAPTER 3 : Government Revenue 49
3.1 Overview 50 3.2 Revenue Policy Measures – 2019 52 3.3 Tax Policy Reforms – 2019/2020 52 3.4 Government Revenue Performance 54 CONTENTS
CHAPTER 4 : Government Expenditure 71
4.1 Overview 72 4.2 Appropriation Act for 2019 and Vote on Account 2019 72 4.3 Supplementary Estimates 73 4.4 Revised Budget for 2019 73 4.5 Budgetary Performance 74 4.6 Advance Account Activities 74 4.7 Public Expenditure Management 74 4.8 Composition of Government Expenditure 94 4.9 Sectoral Classification of Government Expenditure 95
CHAPTER 5 : Cash Flow Management, Deficit Financing and Debt 109
5.1 Overview 110 5.2 Treasury Cash Flow Management 110 5.3 Government Borrowing Programme – 2019 111 5.4 Financing of the Budget 111 5.5 Central Government Debt 115 5.6 Debt Service Payments 122
Part III: Functional Performance and Reforms
CHAPTER 6 : Development Finance 127
6.1 Overview 128 6.2 Financial and Technical Support for SMEs 129 6.3 Supports to Agricultural Development 132 6.4 Assistance to Plantation Sector 137 6.5 Food Security 138 6.6 Livestock Sector Development 141 6.7 Special Incentives for Targeted Groups 143 CONTENTS
CHAPTER 7 : Performance of State Owned Enterprises (SOEs) 145
7.1 Overview 146 7.2 Energy 150 7.3 State Banks 155 7.4 Water 160 7.5 Ports 161 7.6 Insurance 162 7.7 Commuter Transportation 164 7.8 Aviation 165 7.9 Construction 167 7.10 Lotteries 168 7.11 Livestock and the Dairy 170 7.12 Marketing and Distribution 171 7.13 Plantation 172
CHAPTER 8 : Public Finance Management 181
8.1 Overview 182 8.2 Electronic Government Procurement (E-GP) 182 8.3 Statutory and Non-Statutory Funds 183 8.4 Parliament Control over Public Finance 183
CHAPTER 9 : Human Resources Management 187
9.1 Overview 188 9.2 Cadre Management – 2019 188 9.3 Distribution of Public Service Cadre (Excluding Tri-Forces) by Service Level – 2019 189 9.4 Cadre of Government Development Projects 189 9.5 Public Sector Cadre at a Glance 190 CONTENTS
Part IV: Financial Statements 195
BOX ARTICLES
Box 1.1 Major Fiscal Measures: January – May 2020 07 Box 1.2 Key Police Responses to COVID-19 15 Box 3.1 Major Fiscal Measures: January – December 2019 63 Box 6.1 Debt Relief Package for Revitalizing Small and Medium-sized Enterprises (SMEs) 130 Box 7.1 The Way Forward for SOEs 147
Box 7.2 Fuel Price Stabilization Fund 148 Box 9.1 Application of IT on HRM: Policy Responses to COVID-19 191
STATISTICAL APPENDIX
Table 1 Sri Lanka: Demographic and Related Trends 338 Table 2 Climate 339 Table 3 Gross Domestic Product (GDP), Inflation and Exchange Rate 340 Table 4 Gross Domestic Product-Sectoral Composition (2010) Constant Prices 341 Table 5 Savings, Investments and Selected External Sector Indicators 343 Table 6 Economic Classification of Government Fiscal Operations 344 Table 7 Economic Classification of Government Fiscal Operations 345 Table 8 Economic Classification of Government Revenue 346 Table 9 Economic Classification of Government Expenditure and Lending Minus 348 Repayments Table 10 Functional Classification of Government Expenditure 349 Table 11 Composition of Government Debt 350 Table 12 Domestic Production of Selected Items 351 Table 13 Value of Exports 352 Table 14 Value of Imports 354 Table 15 Import Quantities of Selected Items 356 Table 16 Value of Food Imports 357 CONTENTS
Table 17 Motor Vehicles 358 Table 18 Power Sector 359 Table 19 Roads 360 Table 20 Port Services 361 Table 21 Water Supply and Sewerage 362 Table 22 Communications 363 Table 23 Crude Oil and Petroleum Products 364 Table 24 Petroleum Products Tax Structure 365 Table 25 Health Services 366 Table 26 Education 367 Table 27 Access to Banking and Finance 368 Table 28 Labour Force and Unemployment 369 Table 29 Average Daily Wages and Strikes 370 Table 30 Poverty and Inequality 371 Table 31 Remittances and Departures for Foreign Employment 372 Table 32 Welfare Payments and Development Subsidies 373 Table 33 Tourism 375 Table 34 Livestock Sector 377 Table 35 Fisheries Sector 379
SRI LANKA AT A GLANCE 2017 – 2019
2017 2018 2019(a) 2017 2018 2019(a) GDP TOTAL GOVERNMENT DEBT (Rs. Bn) 10,383 12,030 13,031 Total Government Debt (Percent of GDP at Market Prices (Rs. Bn) 13,328 14,366 15,016 77.9 83.7 86.8 GDP)) GDP at Market Prices (US$. Bn) 87.4 88.4 84.0 Domestic (Percent of GDP ) 41.7 41.9 44.1 Per Capita GDP at Market Prices (Rs.) 621,531 662,949 688,719 Foreign (Percent of GDP ) 35.2 41.5 42.6 Per Capita GDP at Market Prices (US$) 4,077 4,079 3,852 Total Debt Service (Percent of GDP) 12.0 14.5 13.5 GDP (Growth %) 3.6 3.3 2.3 GNP (Growth %) 3.6 3.2 2.2 PROVINCIAL BUDGET Inflation – GDP Implicit Price Deflator 7.3 4.3 2.2 Revenue (Rs. Bn) 86.9 90.9 89.8 (%) 2010=100 Inflation – CCPI (%), 2013=100 (Annual 6.5 4.3 4.3 Tax Revenue (Rs. Bn) 77.7 82.4 81.1 Average) Unemployment (%) 4.2 4.4 4.8 Expenditure (Rs. Bn) 287.8 294.5 308.6 Labour Force Participation Rate (%) 54.1 51.8 52.3 Central Government Transfers (Rs. Bn) 200.9 203.6 218.8
STRUCTURE OF THE ECONOMY MONETARY SECTOR DEVELOPMENTS Share of GDP (%) Narrow Money (Rs. Bn) 793 831 866 Agriculture 6.9 7.1 7.0 Broad Money (Rs. Bn) 6,308 7,128 7,624
Industry 26.8 26.3 26.4 Money Growth (M2b) (%) 16.7 13.0 7.0 Services 56.8 57.5 57.4 Tax-Subsidies 9.5 9.1 9.2 Sectoral Growth (%) ACCESS TO BANKING & FINANCE Agriculture -0.4 6.5 0.6 Domestic Commercial Banks 13 13 13 Industry 4.7 1.2 2.7 Branches 2,803 2,826 2,857 Services 3.6 4.6 2.3 Foreign Commercial Banks 12 13 13 Branches 52 51 50 EXTERNAL TRADE Specialized Banks 7 7 6 Exports (US$. Mn) 11,360 11,890 11,940 Branches 691 696 697 Imports (US$. Mn) 20,980 22,233 19,937 Trade Balance (US$. Mn) -9,619 -10,343 -7,997 ATMs Tourism Earnings (US$. Mn) 3,925 4,381 3,607 Domestic Commercial Banks 3,788 4,584 5,097 Workers’ Remittances (US$. Mn) 7,164 7,015 6,717 Foreign Commercial Banks 57 60 61 Current Account Balance (US$. Mn) -2,309 -2,799 -1,808 Specialized Banks 337 376 413 Overall Balance of Payment (US$. Mn) 2,068 -1,103 377
GOVERNMENT FINANCE Insurance Companies 27 26 28 Revenue ( Rs. Bn) 1,832 1,920 1,891 Registered Finance Companies 45 43 42 Tax Revenue (Rs. Bn) 1,670 1,712 1,735 Specialized Leasing Companies 6 5 4 Non -Tax Revenue (Rs. Bn) 161 208 156 Student Savings Units 2,667 3,309 3,783 Revenue (US$. Mn) 12,013 11,812 10,577 Credit Cards Issued 290,264 338,692 353,826 Tax Revenue (US$. Mn) 10,955 10,535 9,704 Credit Cards in Use 1,486,545 1,710,671 1,854,103 Non Tax Revenue (US$. Mn) 1,058 1,278 872 Total Expenditure and Net Lending (Rs. Bn) 2,573 2,693 2,915 EXCHANGE RATES Current Expenditure (Rs. Bn) 1,928 2,090 2,301 Annual Average Public Investment (Rs. Bn) 657 625 631 Rs/US$ 152.46 162.54 178.78 Current Account Balance / (Percent of GDP) -0.7 -1.2 -2.7 Rs/SDR 211.49 229.90 246.97 Primary Deficit/(Percent of GDP) 0.0 0.6 -0.8 Budget Deficit / (Percent of GDP) -5.5 -5.3 -6.8 Year End Total Expenditure and Net Lending (US$. Mn) 16,877 16,570 16,307 Rs/US$ 152.85 182.75 181.63 Current Expenditure (US$. Mn) 12,644 12,857 12,871 Rs/SDR 217.69 253.51 251.17 Public Investment (US$) 4,312 3,845 3,531 Budget Deficit (US$. Mn) -4,811 -4,680 -5,686 (a) Provisional SRI LANKA AT A GLANCE 2017 – 2019
2017 2018 2019 Duty free items – Raw Materials 4,064 4,064 4,099 5% Duty 222 10% Duty 9 9 9 25% Duty 25 25 25 15% Duty – Intermediate Goods 1,310 1,542 1,537 30% Duty – Luxury Goods & Motor Vehicles 1,434 1,459 1,462 75% Duty – Tobacco 3 3 – 85% Duty – Cigarettes 1 – – 125% Duty – Liquor 5 5 5 Specific Duty 68 76 73 Specific & Advelorum 258 275 287 Total 7,179 7,460 7,499
2017 2018 2019 2017 2018 2019 ACCESS TO BASIC SOCIAL DEVELOPMENT INFRASTRUCTURE Access to Pipe-borne Water (% of Mid Year Growth of Population (%) 1.1 1.1 0.6 49.2 50.5 51.8 Population) Access to Safe Drinking Water (% Life Expectancy at Birth (2017) 75.0 75.5 75.5 89.3 90.6 91.9 of Population) Crude Birth Rate (per 1,000 15.2 15.1 14.6 persons) Crude Death Rate (per 1,000 6.5 6.4 6.6 Telecommunications persons) Literacy Rate – (%) (c) Fixed Access Services ( '000) 2,603 2,485 2,300 Cellular Phones (No. of Average 93.1 92.6 92.5 28,199 32,528 32,884 Subscribers)('000) Internet and email Subscribers (Including Male 94.1 93.6 93.4 5,904 10,563 13,408 mobile internet services) ( '000) Female 92.2 91.7 91.6 Computer Literacy Rate (%) (b) 28.3 27.5 30.1 Postal Dependency Ratio (%) (65 years 49.4 49.4 49.4 Public Post Offices 4,062 4,063 4,062 and over) Private Post Offices 628 412 412 MOTOR VEHICLE IMPORTS Motor Cars 36,125 83,269 34,733 Roads Motor Cycles 364,346 354,998 266,659 Total Road Length (km) 12,380 12,390 12,438 Three-Wheelers 19,021 20,782 17,017 Road Density (km2) 0.19 n.a n.a Tractors 10,295 6,992 5,132 Motor Vehicles for Transport of 25,964 25,077 18,591 Ports Goods Passenger Van and Buses 3,732 2,581 1,458 Vessels Arrived (d) 4,879 4,874 4,697 Other 772 789 469 Total Container Traffic ( '000 TEUs) 6,209 7,047 7,228 TOTAL VEHICLE STOCK Total Cargo Handled ('000 MT) 93,857 104,952 106,982 Transshipment Containers Motor Cars 756,856 837,632 875,864 4,826 5,704 5,955 Handling ('000 TEUs) Three-Wheelers 1,139,524 1,159,587 1,175,077 Motor Cycles 4,044,010 4,383,773 4,668,074 PRODUCTION OF AGRICULTURE SECTOR Buses 107,435 110,392 112,005 Tea (Mn kg ) 307 304 300 Dual Purpose Vehicles 408,630 425,561 439,020 Rubber (Mn kg ) 83 83 75 Motor Vehicles for Transport of 360,906 370,277 364,260 Coconut ( Mn Nuts) 2,450 2,623 3,086 Goods Land Vehicles – Tractors 362,445 369,905 375,601 Paddy ('000 MT) 2,383 3,930 4,592 Land Vehicles – Tailors 67,316 70,138 72,108 Fresh Milk (Mn Ltr.) 396 477 448 Quardricycle and Motor Home - 656 1,975 Fish ('000 MT) 531 527 506 (b) During first 06 months (c) Based on Quarterly Labour Force Survey, DCS – 2013, 2014, 2015, 2016 (d) Excluding KKS, Myliddy, Point of Pedro and Karraynagar Ports SRI LANKA AT A GLANCE 2017 – 2019
2017 2018 2019(a) 2017 2018 2019(a) ACCESS TO BASIC NEEDS PRINT MEDIA HEALTH Newspapers (No.) 199 118 178 Public Hospitals 612 612 603 Sinhala 125 69 104 Private Hospitals 181 191 207 Tamil 32 17 28 Primary Medical Care Units 506 506 499 English 33 21 42 Beds* 76,569 76,824 77,964 Bilingual/Tringual 9 11 4 ELECTRONIC MEDIA Television Services 22 23 23 PROFESSIONALS Government 5 5 5 Doctors* 20,349 19,692 18,130 Sinhala 2 2 2 Nurses* 34,221 34,714 38,276 Tamil 2 2 2 Attendants 9,218 8,614 8,531 English 1 1 1 Midwives n.a. 8,387 8,310 Private 17 18 18 Sinhala 12 12 12 Tamil 2 3 3 EDUCATION English 2 3 3 Government China 1 - - Schools 10,194 10,175 10,169 Radio Services 55 58 58 Students ('000) 4,166 4,215 4,150 Government 21 22 22 Teachers 241,591 247,334 243,365 Sinhala 12 10 10 Private Tamil 5 5 5 Schools 106 106 118 English 2 7 7 Students ('000) 136 142 139 Arabic 1 - - Teachers 6,555** 7,319** 8,048** Hindi 1 - - Pirivenas Private 34 36 36 Schools 753 763 796 Sinhala 21 21 21 Students ('000) 63 61 65 Tamil 3 5 5 Teachers 6,414 6,832 7,082 English 9 10 10 China 1 - - INSTALLED CAPACITY (MW) WOMEN PARTICIPATION Total 4,138 4,046 4,213 Women Population ('000) (e) (f) 8,552 8,708 8,814 Public Sector 2,891 2,903 2,953 Employed Women ('000) 2,929 2,715 2,812 Hydro Power 1,384 1,399 1,399 Women Participation in the Labour Force (%) 36.6 33.6 34.5 Thermal Power 1,504 1,504 1,554 Women in the Public Service ('000) 528 n.a. n.a. Fuel 604 604 654 Unemployed Women (%) 6.5 7.1 7.4 Coal 900 900 900 Other 3 0 0 Private Sector 1,248 1,143 1,260 CAPITAL MARKET Hydro Power 353 394 406 Market Capitalization (Rs. Bn) 2,899 2,840 2,851 Thermal Power – Fuel 689 533 628 Average Daily Turnover (Rs. Mn) 915 834 711 Other 206 217 226 All Share Price Index (ASPI) 6,369 6,052 6,129 POVERTY (2016) 1985=100 S&P SL 20 Index (2004 =1,000) 3,672 3,135 2,937 Poverty Head Count Index 4.1(g) 4.1(g) 4.1(g) Market Price Earnings Ratio – End of 10.6 9.7 10.8 Poverty Gap Index (%) 0.6(g) 0.6(g) 0.6(g) the Year (%) Turnover to Market Capitalization (%) 7.6 7.0 6.0 Gini Coefficient of Per Capita 0.39(g) 0.39(g) 0.39(g) Expenditure Average Daily kilo Calorie Intake 2095(g) 2095(g) 2095(g) * Government ** Including Special School Teachers and Excluding International Schools Teachers (e) Women Population estimates were calculated based on final results of the Census of Population and Housing 2012 (f) 15 years and over population (g) Based on Household Income and Expenditure Survey (2016), DCS SRI LANKA AT A GLANCE 2017 – 2019
GOVERNMENT TAX RATE (%) 2016 2017 2018 2019 Ta x F r e e A l l owa n c e s R s . 5 0 0 , 0 0 0 R s . 5 0 0 , 0 0 0 Ta x F r e e A l l owa n c e s R s . 5 0 0,000 Rs. 500,000 Tax on Taxable income Tax on Taxable income Next Rs. 500,000 4 4 Next Rs. 600,000 4 4 Next Rs. 500,000 8 8 Next Rs. 600,000 8 8 Next Rs. 500,000 12 12 Next Rs. 600,000 12 12 Next Rs. 500,000 16 16 Next Rs. 600,000 16 16 Next Rs. 1,000,000 20 20 Next Rs. 600,000 20 20 Balance 24 24 Balance 24 24
As at end As at end 2017 2018 2019 2017 2018 2019 Corporate Tax (%) Excise Duty Standard Rate 28 28 28 Cigarettes (Rs. Per 1,000) Liquor & Tobacco 40 40 40 Length below 60mm 11,675 11,675 13,360 Taxable Income less than Rs.5.0 Mn 12 – - Length 60–67mm 17,375 19,500 22,300 Export Income 12 14 14 Length 67–72mm 20,500 23,000 37,650 Economic Service Charge (ESC) Length 72–84mm 30,500 37,580 43,100 ESC Rate (%) 0.5 0.5 0.5 Length Exceeding 84mm 34,250 42,200 48,350 (Any ESC Paid is Deductible from any Income Tax/ Corporate Tax Payable) Value Added Tax (VAT) (%) Liquor Duty Structure (Rs. Per Proof Liter) Coconut Processed/Molasses Standard Rate 15 15 8 3,300 3,300 4,050 Arrack Exports 0 0 0 Country Made Foreign Liquor 3,300 3,300 4,150 Malt Liquor (Beer) above 5% in Nation Building Tax (NBT) (%) 2 2 - 2,400 2,400 3,200 Strength Ports and Airports Development Malt Liquor (Beer) less than 5% 7.5 7.5 10.0 2,400 2,400 3,200 Levy (%) in Strength Telecommunications Levy (% Liquor made from any cereal 25 25 11.25 2,400 2,400 3,200 (other than Internet) other than toddy
Share Transaction Levy (%) 0.3 0.3 0.3 Imported Malt Liquor 50 50 135
Customs Duty (%) Imported Wine 100 100 230 Inputs / Raw Material 0 0 0 Any other imported Liquor 200 200 650 Intermediate Goods 15 15 15 Finished and Luxury Goods 30 30 30
SOCIAL & ECONOMIC DEVELOPMENT BY INTERNATIONAL RANKING (2019)
No of Index Name Sri Lanka India Bangladesh Bhutan Maldives Nepal Pakistan Countries Prosperity index 167 75 101 127 n.a. n.a. 115 140 Competitiveness Index 140 84 68 105 n.a. n.a. 108 110 Human Development index 189 71 129 135 134 104 147 152 Global Hunger index 117 66 102 88 n.a. n.a. 73 94 Global Innovation index 129 89 52 116 n.a. n.a. 109 105 Corruption Perception index 180 93 80 146 25 130 113 120 Doing Business index 190 99 63 168 89 147 94 108 World Happiness index 156 130 140 125 95 n.a. 100 67 Economic Freedom index 180 112 120 122 85 119 139 135 Logistics Performance index 160 94 44 100 149 86 114 122 (2018) MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 01 Chapter
PART I Macro-Fiscal Perspectives
1 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 01 Chapter
2 01 Developments in Fiscal Policy, Strategy and Challenges MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 01 Chapter
1.1 Overview the spread and maintaining a relatively low mortality rate, when in comparison to countries A massive operation globally and locally is with better health care systems, resources and ongoing even at the time of this report being technologies. presented with the COVID-19 pandemic spreading borders, notwithstanding. Given The world economy is on a steep contraction the unprecedented nature of this public disrupting the global supply chain, employment health crisis, the response has also been generation and demand. The International unprecedented with lockdowns imposed, Monetary Fund (IMF) has downgraded its borders being closed, mass quarantine global economic prospects for 2020 as measures undertaken coupled with mandatory negative and the Asian Development Bank social distancing initiatives. (ADB) in its new ADB report on 'Updated Assessment of the Potential Economic Impact Sri Lanka too has been implementing these of COVID-19' issued on May 15, 2020, estimates measures adapted to suit local conditions and the cost of COVID-19 would be around USD so far it has managed to contain the outbreak 5.8–8.8 trillion for 2020 that is paralleled to within identified locations with no infection the world economic depression in 1930 and being recorded for more than 40 days from much worse than during the 2008–09 financial the general society, given the particular crisis. The growth estimated for Sri Lanka emphasis placed on educating the public on after the Presidential Election was projected the preventive measures to be undertaken. a higher growth of around 4.0 to 4.5 percent Sri Lanka’s approach has been multifaceted which could now less than half of its initial where, while maintaining mandatory social projections, due to the outbreak of COVID-19 distancing measures, the government’s in the Second Quarter of 2020. The ramification decision within days of the lockdown, to effects on the COVID-19 to the production facilitate the movement of essential goods in and employment have prompted to provide particular, from the farm gate to the doorstep fiscal and monetary stimulus to micro, small of millions of households was key in making and medium enterprises (MSMEs), low-income these social distancing initiatives successful. earners and other entrepreneurs, particularly Information technology has been a catalyst in tourism operators, covering all spectrum of the delivery of services connecting retailers the society. The Central Bank has injected and wholesalers and the customers especially liquidly to the market to ease the burden at a time of logistical disruptions. on entrepreneurs and individuals and the government has provided necessary relief to The decision to allow agriculture work to the domestic economy which has a contagion be undertaken unimpeded has been key in impact on the fiscal and monetary policy preserving the livelihoods of a significant conduct on top of the hefty fiscal overhangs number of the workforce specially engaged in spilt over from 2019 due mainly to the unpaid agriculture. The government’s response which claims1 of which some have been incurred, was multifaceted extended, to the provision without adhering to accepted financial of a fiscal and the monetary stimulus package procedures in the country. Total unpaid claims which includes providing a cash grant of Rs. are estimated at 2.2 percent of GDP. 5,000 to the most vulnerable in society while providing support via Banks to the Small and The impact of COVID-19 on the economy is Medium Enterprises (SMEs) in particular and premature to be assessed, however, it has other business initiatives to re-profile their already exerted pressure on the fiscal and debt and infusing working capital. These 1 The major unpaid claims include: i. Rs. 1.8 billion – 2019 Presidential measures have allowed the country to phase Election; ii. Rs. 23.9 billion – fertilizer; iii. Rs. 25.7 billion – pharmaceuti- out its lockdowns in less than 7 weeks, albeit cal drugs; iv. Rs. 45.8 billion – interests subsidy for senior citizens with measures that will define the “new normal”. the banking system; v. Rs. 18.4 billion – road construction contractors; vi. Rs. 7.1 billion – Gamperaliya rural work; vii. Rs. 6.9 billion – urban The World Health Organization (WHO) has development work; viii. Rs. 2.8 billion – school development; and ix. Rs. 212 billion – foreign funds disbursed but not accounted for 2019 noted the initiatives taken by Sri Lanka as there were no budgetary provisions in the approved Appropriation have been far more effective in containing Act.
4 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 01 Chapter macroeconomic management mostly due to COVID-19 which has increased the additional the loss of labour income in the tourism, exports financing needs by about 2.0 percent of GDP. and transport and other service sectors arising The outbreak of COVID-19 around the world from the closures and slowdown of economic has imposed multiple economic challenges. In activities. The government has utilized the 2019, an 17-year low of 2.3 percent GDP growth public service delivery effectively, to facilitate registered after a serious setback with the and support the most vulnerable groups such misalignment of the economy, partly due to the as the low-income wage earners, farmers and impact of Easter Sunday attacks coupled with MSMEs. Having identified that the loss of labour tight fiscal and monetary policy undertakings. income is likely to propel the vulnerable into The limited fiscal space arisen from the arrears poverty and unemployment in the aftermath of financed deficit of 8.5 percent of GDP and a the pandemic, the government has identified higher ratio of government debt to GDP of 92.4 sectors that needs urgent support. In that the percent poses risks to the macroeconomic government as has been announced will invest stability. Foreign currency exposure to the heavily into agriculture in a multitude of ways total debt is almost 50 percent and total including the infusion of technology to improve debt service payments including amortization productivity providing land for cultivation and interest payments during the rest of the together with improved extension services. period June-December 2020 is expected to New industries are also been facilitated USD 3.8 billion. Official reserves of USD 7.5 including the pharmaceutical industry and billion is low relative to the short-term external food processing industry etc. liabilities. The government announced fiscal stimulus package in the latter part of 2019 to The fiscal and monetary stimulus measures spur economic growth with the introduction are expected to help revive the businesses of the simplified and transparent tax regime, and support the individuals affected by the reducing non-priority public outlays to contain outbreak. For instance, garment industry has the deficit while settling all outstanding arrears received fresh orders amounting nearly USD 1 in 2020. billion to manufacture health and safety gears as of mid-May, over 90 percent of the factories Figure 1.2 | Government Debt Servicing (% of in 14 BOI zones have commenced operations. Government Revenue) With the augmented demand from tea export
124.7 destinations including Russia, Turkey and the 118.0 Middle East, tea prices have increased at a 108.6 108.8 107.0 100.4 100.6 96.5 96.8 93.0 90.8 90.5 92.5 90.6 record high at the tea auction. 88.6 89.4 87.5 83.2 80.2 76.4 Figure 1.1 | Major Fiscal Balances (% of GDP)
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Prov. 2.0 2.0 Source : Central Bank of Sri Lanka 1.0 - - (2.0) (1.0) Figure 1.3 | Debt Servicing and Government Revenue (2.0) (4.0) (3.0) (4.6) (% of GDP) (5.4) (5.4) (5.3) (5.1) (6.0) (5.6) (5.7) (5.5) (5.8) (4.0) (6.2) (6.5) (7.0) (6.8) (8.0) (5.0) (7.6) 6.8 (8.5) 16.6 16.6 16.3 (10.0) 15.5 15.8 (6.0) 15.2 14.9 14.9 6.9 14.5 14.1 13.7 7.4 13.4 13.3 13.4 (7.0) (12.0) 6.4 12.7 12.0 11.9 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5.1 11.5 5.7 4.9 5.9 Prov. Est. Proj. Proj. Proj. Proj. 5.7 5.1 4.8 6.0 5.5 4.9 4.8 4.7 6.7 4.7 5.5 5.1 Budegt DeĮcit (Right Axis) Current Account BalancĞ;>ĞŌdžŝƐͿ Primary BalancĞ;>ĞŌdžŝƐͿ 4.3
12.0 10.6 10.0 10.7 9.2 8.3 8.6 8.9 8.6 8.6 7.3 7.5 7.3 7.4 7.5 7.0 6.5 Source : Department of Fiscal Policy 6.0 6.1 6.2
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Prov. The fiscal deficit is expected to expand to 8.5 Debt Repayments Interest Payments Government Revenue percent of GDP in 2020 with the slowdown of Sources : Central Bank of Sri Lanka and Department of Fiscal Policy economic activities triggered in the second quarter of 2020, a slump in revenues, increased Several aberrations in the policy front have been expenditure due to the spillover spending from witnessed in 2019. The envisaged fiscal and 2019 and increased spending on the control of
5 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 01 Chapter
exports targets were missed, among others. imprudent expenditure and financing policies The envisaged budget deficit of 4.4 percent has resulted in the accumulation of debt, which of GDP has expanded to 6.8 percent of GDP has created significant vulnerabilities in the excluding the unpaid claims. The actual deficit macroeconomic environment. for 2019 would be 9.0 percent of GDP with the inclusion of all unpaid claims. Reflecting the Figure 1.5 | Government Expenditure (% of GDP) government’s dissavings, the current account 20.9 20.0 19.9 19.5 19.3 18.7 19.4 deficit of Rs. 410 billion was recorded in 2019 17.8 17.4 17.3 5.4 5.3 4.1 5.7 4.8 4.8 4.2 2.8 from the envisaged surplus of Rs. 36 billion. 4.9 4.8 4.6 The estimated primary surplus, which arrests 14.6 14.2 15.5 14.7 14.5 14.5 15.3 15.0 the difference between revenue and grants 13.0 12.6 12.8 and non-interest expenditure, of Rs. 228 billion 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Prov. 2020 Est. turned into a deficit of Rs. 115 billion in 2019. In Recurrent Expenditure Capital Expenditure (& Net Lending) the same vein, the actual government revenue of Rs. 1,899 billion in 2019 was an aberration of Source : Department of Fiscal Policy almost 20 per cent or Rs. 456 billion from the estimated revenue of Rs. 2,357 billion. This was Figure 1.6 | Major Components of Government driven mainly by a 20–25 percent combined Expenditure (% of GDP) shortfall in revenues from taxes on goods and 5.5 5.6 4.2 5.8 5.0 4.9 4.4 2.9 5.1 5.0 4.7 1.1 services i.e Value Added Tax (VAT) and import- 1.7 1.3 1.0 0.9 1.4 1.8 1.1 3.7 3.1 1.6 1.2 1.2 3.9 3.5 3.4 3.3 3.9 3.0 based taxes stemming from the contraction of 2.7 2.6 3.1 4.4 4.6 4.7 4.4 5.1 4.8 4.4 4.8 the imports of intermediate goods and almost 4.0 4.1 4.3 5.9 6.0 a 50 percent decline in the import of motor 5.5 4.9 4.7 4.6 4.2 4.8 5.1 5.5 5.5 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Est. vehicles. The expected target of USD 12.9 Prov. billion from exports was also missed. Interest Payments Salaries & wages Subsidies & Transfers Goods & Services Public Investments
Figure 1.4 | Major Components of Tax Revenue (% of Source : Department of Fiscal Policy GDP)
12.4 12.1 12.5 11.9 The government’s commitments made under 0.8 0.8 0.9 1.0 0.7 10.3 1.2 1.3 0.7 the IMF supported three-year Extended Fund 0.5 1.4 1.8 1.8 0.7 1.7 0.7 Facility (EFF) has not been fulfilled as envisaged. 3.5 3.4 2.7 4.5 3.8 Appropriation Act has not been approved by
3.0 3.3 3.2 2.0 2.4 Parliament for the year 2020, instead, a Vote
2.8 2.4 2.2 2.1 2.2 on Account for 4 months from January to April
2015 2016 2017 2018 2019 Pro. 2020 has been approved following the 2019 Presidential Election. However, the provision in Income Tax Value Added Tax Excise Tax PAL/SCL/NBT Import DuƟes Other the Vote on Account was not sufficient to realize unclaimed bills, which has been a challenge for Source : Department of Fiscal Policy the continuation of essential cost items such A significant revenue slippage occurred over as fertilizer and pharmaceutical products, in the last three years as against the estimated particular the labour-intensive construction revenue which is about 85 percent despite sector was badly affected. Many of the SMEs the revenue consolidation efforts through the especially in the construction sector and the increasing the rates while introducing new agriculture sector were faced with closure and taxes and expanding tax bases in flagging also have been unable to meet their dues to economic conditions which have resulted the banks. In fact the Banks too saw elevated in a further decline in government revenue. levels of Non-performing loan ratios at around Also, expenditure rationalization has been 4.5 percent of which almost 25 percent was conducted at the expense of curtailing most of due to the SME sector. the productive investment expenditure while expanding recurrent expenditure further which has led a large fiscal overhang over the last three years. The non-containment of fiscal space with
6 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 01 Chapter
Figure 1.7 | Outstanding Central Government Debt (% The new government which took office in of GDP) November 2019 announced a comprehensive
65.0 120.0 set of new policies and strategies in line with 105.6 103.3 102.3 102.3 60.0 96.9
100.0 the policy document “Vistas of Prosperity and 60 90.6 58 87.9 86.8 85.0 86.1 55.0 83.8 56 81.4 78.8 55 77.7 77.9 Splendour”. The government introduced an 54 80.0 71.6 71.1 70.8 71.3 50.0 52 68.7 50 50 economic stimulus package to revitalize the 49 48 48 45.0 60.0 46 45 46 45 45 44 43 43 43 economy through a simplification of tax system 40.0 42 41 42 40 40 40.0 39 39
35.0 38 37 37 relying on large transactions while reforming 36 35
34 20.0 33 30.0 32 32 32 32 31 corporate management structures of State 30
25.0 - 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Owned Enterprises (SOEs). Prov. DomesƟc Debt Foreign Debt Total Debt Source : Central Bank of Sri Lanka In line with the new government’s policy stance, several tax policy measures have As such to stimulate the economy and also been implemented to easing the tax burden to maintain essential and important public on individuals, the corporate sector and the finance activities, the Hon. Prime Minister general public. The reduction of the VAT rate to sought approval from Parliament to enable the 8 percent from 15 percent, except the financial Treasury to honour, such payments, and bring services, helped the revival of business such expenditure along with unaccounted confidence and increase the consumption. foreign loans expenditure into the government The services by hotels, guest houses and accounts, to no avail. restaurants have been zero-rated if at least 60 percent of inputs are locally sourced. Annual Parliament was dissolved on March 02, 2020, VAT registration threshold expanded to Rs. by His Excellency the President and required 300 million per annum from Rs. 12 million per expenditure to withdraw money from the annum to provide relief for SMEs. Meanwhile, Consolidated Fund under Article 150 (c) of the Telecommunication Levy reduced to 11.25 Constitution was approved to facilitate the percent from 15 percent. announced Parliamentary Elections and honour the unpaid claims.
Box 1.1 | Major Fiscal Measures: January – May 2020 Effective Measures Date Income Tax – Inland Revenue Act, No. 24 of 2017 Corporate Income Tax 01.01.2020 Category Rate Standard income tax rate 24% Income tax rate applicable for manufacturing industry 18% Income tax rate applicable for exports, tourism, education, healthcare, 14% construction and agro-processing Income tax rate applicable for betting and gaming, liquor and tobacco 40% Personal Income Tax 01.01.2020 Taxable Income per annum Rate First 3,000,000 Exempted 3,000,000 – 6,000,000 6% 6,000,000 – 9,000,000 12% Exceeding 9,000,000 18% Terminal Benefits 01.01.2020 Income from Terminal Benefits Rate First 10,000,000 Exempted Next 10,000,000 6% Balance 12%
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Box 1.1 | Major Fiscal Measures: January – May 2020 contd... Effective Measures Date Pay As You Earn Tax (PAYE) 01.01.2020 To remove PAYE on any employment receipts to any resident or non-resident person and to introduce Advance Personal Income Tax deductible at the source, subject to the consent of the employee. Withholding Tax (WHT) 01.01.2020 To remove WHT on any payments made to any resident person except the following: WHT on the amounts paid as winning from lottery, reward, betting or gambling – 14%. WHT on sale of any gem at an auction conducted by the National Gem and Jewellery Authority – 2.5% WHT on payments made to any non-resident person 14%. Income Tax Exemptions 01.01.2020 - Profits and income earned from Information Technology (IT) and enabling services. - Profits and income earned from services rendered to persons outside Sri Lanka, including income earned from foreign sources, in the event the payments for such services are received in foreign currency through a bank. - Interest income earned on Non-Resident Foreign Currency (NRFC) and Resident Foreign Currency (RFC) accounts. - Dividends paid by a resident company to any non-resident. - Dividends distributed by commercial hub operators. - Amounts derived by any non-resident person from laboratory services or standard certification services. - Amounts received by any religious institutions by way of grants and donations. 01.04.2019 - Profits and income earned from farming including agriculture, fish and livestock farming. 01.04.2018 - Interest paid on loans obtained from any person outside Sri Lanka - Any income earned by any non-resident person on any Sovereign Bond denominated in foreign or local currency - Interest or discount paid or allowed to any person on Sovereign Bonds denominated in foreign currency. - Funds received by any Public Corporation out of the funds voted by Parliament from the Consolidated Fund or out of any loan arranged through the Government. Economic Service Charge (ESC) – Economic Service Charge Act, No. 13 of 2006 01.01.2020 To remove ESC. Value Added Tax (VAT) – Value Added Tax Act, No. 14 of 2002 01.01.2020 - To increase the threshold for registration of VAT to Rs. 300 million per annum from Rs. 12 million per annum. - To exempt Information Technology (IT) and enabling services from VAT. Excise (Special Provisions) Duty – Excise (Special Provisions) Act, No. 13 of 1989 06.03.2020 Gazette Notification No. 2165/60 of 06.03.2020 To amend the Schedule II of the Extraordinary Gazette Notification No. 2113/9 of 05.03.2019. Excise (Ordinance) Duty – Excise Ordinance (Chapter 52) 01.03.2020 Excise Notification No. 01/2020 (Gazette Notification No. 2164/72 of 01.03.2020) To amend rules in the Excise Notification No. 04/2019. 30.04.2020 Excise Notification No. 02/2020 (Gazette Notification No. 2173/11 of 30.04.2020) To amend the Schedule in the Excise Notification No. 988. Ports and Airports Development Levy (PAL) – Ports and Airports Development Levy Act, No. 18 of 2011 25.02.2020 Gazette Notification No. 2164/8 of 24.02.2020 To grant concessionary rate of 7.5 percent on the importation of clinker. 16.04.2020 Gazette Notification No. 2171/6 of 16.04.2020 To exempt the payment of PAL: On the importation of medical equipment and hospital furniture consigned to the Secretary, Ministry of Health & Indigenous Medical Services as a donation.
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Box 1.1 | Major Fiscal Measures: January – May 2020 contd... Effective Measures Date 23.04.2020 Gazette Notification No. 2171/10 of 22.04.2020 To grant concessionary rate of 5.0 percent on the importation of steel industry related raw materials. 19.05.2020 Gazette Notification No. 2176/10 of 19.05.2020 To exempt the payment of PAL: - On the supply or donation of health protective equipment and similar products by export-oriented BOI enterprises to the Ministry of Health & Indigenous Medical Services, Department of Health Services, Tri Forces, Sri Lanka Police and COVID Centre (National Operation Centre for Prevention of COVID-19 Outbreak). - On the importation or importation and supply or importation and donation of machinery and equipment including medical, surgical, and dental instruments, apparatus, accessories and parts thereof, hospital/medical furniture and drugs, chemicals and similar items, required for the provision of health services to address the COVID 19 Pandemic. 26.05.2020 Gazette Notification No. 2177/4 of 26.05.2020 To exempt the payment of PAL: - On the importation of raw materials and packing materials by pharmaceutical manufacturers for manufacture of pharmaceuticals. CESS Levy – Sri Lanka Export Development Act, No. 40 of 1979 14.01.2020 Gazette Notification No. 2158/1 of 13.01.2020 To remove CESS levy on the importation of wheat flour. 20.05.2020 Gazette Notification No. 2176/13 of 20.05.2020 To exempt the payment of CESS: - On the supply or donation of health protective equipment and similar products by export-oriented BOI enterprises to the Ministry of Health & Indigenous Medical Services, Department of Health Services, Tri Forces, Sri Lanka Police and COVID Centre (National Operation Centre for Prevention of COVID-19 Outbreak). - On the importation or importation and supply or importation and donation of machinery and equipment including medical, surgical, and dental instruments, apparatus, accessories and parts thereof, hospital/medical furniture and drugs, chemicals and similar items, required for the provision of health services to address the COVID 19 Pandemic. Customs Import Duty (CID) – Revenue Protection Act, No. 19 of 1962 08.03.2020 Revenue Protection Order No. 01/2020 (Gazette Notification No. 2165/72 of 07.03.2020) To create new HS Code for Black Gram. 10.04.2020 Revenue Protection Order No. 02/2020 (Gazette Notification No. 2170/6 of 09.04.2020) To revise CID on the importation of lubricants. 17.04.2020 Revenue Protection Order No. 03/2020 (Gazette Notification No. 2174/4 of 16.04.2020) To revise CID on the importation of selected items. 23.04.2020 Revenue Protection Order No. 04/2020 (Gazette Notification No. 2172/6 of 22.04.2020) To revise CID on the importation of petrol and diesel. Surcharge on Customs Duty – Customs Ordinance (Chapter 232) 14.03.2020 Gazette Notification No. 2166/35 of 13.03.2020 To introduce surcharge on Customs Duty on the importation of petrol and diesel. 23.04.2020 Gazette Notification No. 2172/7 of 22.04.2020 To increase surcharge on Customs Duty on the importation of petrol and diesel. Customs Import Duty (CID) Waiver – Customs Ordinance (Chapter 232) 14.01.2020 To introduce CID waiver of Rs. 13 per kg on the importation wheat flour. 14.03.2020 To remove CID waiver of Rs. 3 per litre on the importation of auto diesel. To reduce CID waiver on the importation of petrol (Octane 92) to Rs. 5 per litre from Rs. 17 per litre. 23.04.2020 To remove CID waiver of Rs. 5 per litre on the importation of petrol (Octane 92). Special Commodity Levy (SCL) – Special Commodity Levy Act, No. 48 of 2007 25.01.2020 Gazette Notification No. 2159/41 of 24.01.2020 To extend the validity period of SCL on the importation of Potatoes for a period of 31 days.
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Box 1.1 | Major Fiscal Measures: January – May 2020 contd... Effective Measures Date 02.02.2020 Gazette Notification No. 2160/63 of 01.02.2020 To extend the validity period of SCL on the importation of B’onions, Chickpeas, Red Lentils (whole and split), Yellow Lentils (whole and split), Dates (fresh and dried), Oranges (fresh), Apples (fresh), Maize, Vegetable Oils, Beet and Cane Sugar, White Crystalline Cane Sugar and White Crystalline Beat Sugar for a period of six months. 07.02.2020 Gazette Notification No. 2161/34 of 06.02.2020 To decrease SCL on the importation of Fish (fresh, chilled or frozen) to Rs. 25 per kg for a period of three months. 25.02.2020 Gazette Notification No. 2164/10 of 24.02.2020 To extend the validity period of SCL on the importation of Potatoes for a period of 31 days. 04.03.2020 Gazette Notification No. 2165/12 of 03.03.2020 To increase SCL on the importation of Fish (fresh, chilled or frozen) to Rs. 150 per kg for a period of six months. 08.03.2020 Gazette Notification No. 2165/73 of 07.03.2020 To extend the validity period of SCL on the importation of Mackerel, Black Gram, Cowpeas and Kurakkan for a period of six months. 13.03.2020 Gazette Notification No. 2166/34 of 13.03.2020 To remove retrospective effect of the Order on the importation of Fish Bait issued in Gazette Notification No. 2165/12 of 03.03.2020. 18.03.2020 Gazette Notification No. 2167/10 of 18.03.2020 To remove retrospective effect of the Order on the importation of Fish (fresh, chilled or frozen) issued in Gazette Notification No. 2165/12 of 03.03.2020. 19.03.2020 Gazette Notification No. 2167/11 of 18.03.2020 To impose SCL of Rs. 1 per kg on the importation of Disinfectants and Face Masks for a period of two months. 27.03.2020 Gazette Notification No. 2168/7 of 26.03.2020 To extend the validity period of SCL on the importation of Potatoes for a period of three months. 10.04.2020 Gazette Notification No. 2170/5 of 09.04.2020 To revise SCL on the importation of Vegetable Oils for a period of three months. 17.04.2020 Gazette Notification No. 2171/2 of 16.04.2020 To revise SCL on the importation of fruits including Oranges (fresh), Grapes (fresh and dried) and Apples for a period of two months. 17.04.2020 Gazette Notification No. 2171/3 of 16.04.2020 To waive SCL on the importation of Vegetable Oils for a period of three months. 01.05.2020 Gazette Notification No. 2173/12 of 30.04.2020 To increase SCL on the importation of B’onions to Rs. 15 per kg from Rs. 1 per kg for a period of three months. Finance Act, No. 35 of 2018 Luxury Tax on Motor Vehicles 20.02.2020 Gazette Notification No. 2163/26 of 20.02.2020 To amend the Gazette Notification No. 2147/72 of 31.10.2019. 26.05.2020 Gazette Notification No. 2177/2 of 26.05.2020 To amend the Gazette Notification No. 2147/72 of 31.10.2019. Debt Repayment Levy (DRL) 01.01.2020 -To remove Debt Repayment Levy. Finance Act, No. 11 of 2006 Levy on Tele-dramas, Films and Television Commercials 27.03.2020 Gazette Notification No. 2168/9 of 27.03.2020 To amend the Gazette Notification No. 2044/21 of 07.11.2017.
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Several taxes i.e. Economic Service Charge Customs Imports Duty (CID), VAT, PAL and (ESC), Debt Repayment Levy (DRL) and Nation Commodity Export Subsidy Scheme (CESS) Building Tax (NBT) were removed to simplify effective from April 29, 2020 while ensuring the tax structure. The personal income tax- the availability of those equipment and similar free allowance increased to Rs. 3 million per products. annum from Rs. 500,000 per annum. The tax slab has broadened to Rs. 3 million per annum The government extended the payments of VAT from Rs. 600,000 per annum while revising the and Withholding Tax (WHT) taxes, submission progressive tax rate to 6 percent, 12 percent of VAT returns and fees and charges as a policy with a maximum of 18 percent. The standard response to the pandemic. Agrahara insurance Corporate Income Tax (CIT) rate structure benefits were doubled for employees in the reduced to 24 percent from 28 percent. The health sector, Police, civil defence and all concessionary rate of 14 percent is applicable government servants engaged in controlling to the income from exports, tourism, education, the spread of COVID-19. To lessen the impact healthcare, construction and agro-processing of possible loss of income on the poor and and 18 percent applicable on income from vulnerable households, the government has manufacturing. The high tax rate of 40 percent introduced a cash grant allowance of Rs. continued to be applied on the liquor, tobacco 5,000 per month from April to May 2020 for and betting and gaming. Key potential sectors the recipients of the elderly, differently-abled, including agriculture, IT, income earned from Samurdhi, farmers, kidney patients and all foreign sources and interest income earned those on the waitlist and displaced daily paid from NRFC and RFC were exempted from workers based on the existing cash transfer income tax to revitalize the economic activities. system. A COVID-19 Health Care and Social Security Fund was established to facilitate Upward adjustments were made to excise necessary healthcare and relief measures and duty on all categories of liquor and cigarettes contribution to the Fund was removed from to recoup the potential revenue loss of VAT taxes and foreign exchange restrictions. As reduction and the removal of NBT applicable to a contribution to the South Asian region, the such items while maintaining the retail prices government pledged USD 5 million to the intact. The impact of the removal of NBT from SAARC COVID-19 Emergency Fund. import activities has been adjusted with the upward revision of standard PAL rate to 10.0 In providing relief to the hard-hit entrepreneurs, percent from 7.5 percent. However, three- a debt moratorium programme has been tier concessionary rates of 2.5, 5.0 and 7.5 implemented through banks complemented percent were granted to relief the imports of by guarantees from the Central Bank of Sri raw materials, crude petroleum oil and fuels, Lanka (CBSL). Meanwhile, the new government intermediate goods as well as investment scaled up the Government Guaranteed paddy goods. purchasing price to Rs. 50.00 per kg of any variety of paddy from the previous prices of Rs. In addition to the fiscal stimulus provided 50 per kg of Keeri Samba, Rs. 41 for Samba and following the Presidential Election in the latter Rs. 38 for Nadu. Under the paddy purchasing part of 2019, swift measures have been provided programme for 2019/20 Maha Season, more to combat COVID-19 outbreak while providing than Rs. 2,480 million has been diverted into relief for all. As fiscal measures, importation of the rural agriculture-based economy to ensure protective gears to be donated to the Ministry food security in the country. To safeguard the of Healthcare and Indigenous Medical Services local farming community, the government is have been exempted from PAL effective from also committed to streamlining the governance April 16, 2020 to support the fight against the framework for external trade based on national outbreak of COVID-19. Meanwhile, the supply security, environment, and health. It is in this of personal protective equipment and similar background that the government introduced products by BOI enterprises to the Ministry of restrictions with effect from December Healthcare and Indigenous Medical Services, 2019 on the import and re-export of nine Department of Health Services, Tri Forces, crops i.e. pepper, nutmeg, tamarind, mace, etc were exempted from all taxes including cinnamon, areca-nut, cardamom, clove and
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ginger. Measures have been taken to ban the 1.2 2020 Fiscal Operations importation of garbage or waste materials which are recycled and re-exported. However, During the first quarter of 2020, the total local recycling industries are not restricted expenditure incurred amounted to Rs. 1,229 under the above policy measures. Further, the billion comprising of recurrent expenditure import of lanterns, kites and incense sticks amounting to Rs. 715 billion and capital are restricted. Also, import taxes have been expenditure amounting to Rs. 150 billion, revised to encourage domestic industries to including the spillovers from 2019. Rs. 360 billion regain the production which has been affected has been allocated for the loan repayment. by the COVID-19 while saving foreign exchange The estimated government revenue for the outflows. respected period is Rs. 420 billion.
Table 1.1 I Government Fiscal Operations (a) 2018 2019 2020 2018 (c) 2019 2020 Actual Provisional Estimated Actual Provisional Estimated Rs. Bn % of GDP Revenue & Grants 1,932 1,899 1,458 13.5 12.6 9.3 Revenue 1,920 1,891 1,450 13.4 12.6 9.2 Tax Revenue 1,712 1,735 1,305 11.9 11.6 8.3 Income Tax 310 428 314 2.2 2.8 2.0 Taxes on Goods & Services 1,062 976 668 7.4 6.5 4.3 Taxes on External Trade 340 332 323 2.4 2.2 2.1 Non-Tax Revenue 208 156 145 1.4 1.0 0.9 Grants 12 8 8 0.1 0.1 0.1 Expenditure 2,693 2,915 2,799 18.7 19.4 17.8 Recurrent Expenditure 2,090 2,301 2,362 14.5 15.3 15.0 Salaries & Wages 626 686 750 4.4 4.6 4.8 Goods & Services 139 162 135 1.0 1.1 0.9 Interest 852 901 857 5.9 6.0 5.5 Subsidies & Transfers 473 552 620 3.3 3.7 3.9 Capital Expenditure and Net Lending 604 614 437 4.2 4.1 2.8 Public Investments 625 631 452 4.4 4.2 2.9 Other -21 -17 -15 -0.1 -0.1 -0.1 Current Account Balance -170 -410 -912 -1.2 -2.7 -5.8 Primary Balance 91 -115 -484 0.6 -0.8 -3.1 Overall Fiscal Balance (Budget Deficit) -761 -1,016 -1,341 -5.3 -6.8 -8.5 Deficit Financing 761 1,016 1,341 5.3 6.8 8.5 Foreign Financing (Net) (b) 465 363 491 3.2 2.4 3.1 Domestic Financing (Net) 296 654 850 2.1 4.4 5.4 Source: Department of Fiscal Policy (a) Based on the economic classification of government fiscal operations. (b) Includes treasury bonds and treasury bills issued to foreign investors. (c ) Revised GDP
In line with fiscal consolidation efforts, the by expenditure units. In this regard, the rationalization of expenditure is one of the government has already taken a decision to priorities of the new government, in particular, reexamine its debt financed public investment certain expenditures curtailed including the pipeline amounting to almost USD 9 billion purchase of new vehicles and the rent or and reprofile it by advancing urgent projects, purchase of buildings, equipment etc, while canceling those that will not generates an monitoring the expenditure rationalization adequate return financially or economically
12 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 01 Chapter while differing certain projects that needs to be vulnerable of the society will be provided undertaken later. The government will also take with a secured job thus livelihoods of 100,000 into account the exposure to foreign currency families will be improved and they will be out and the terms of the loan including the cost of Samurdhi scheme. The poorest household of financing and the tenure. At the same time will enjoy a bag of essential food items as a some of these projects will be implemented temporary measure and a Food Security Card through equity investments rather than through (FSC) will also be introduced to all beneficiaries. debt finance. This will support the government However, they will be supported to transfer out to rationalize its debt stock while also ensuring from poverty while providing credit facilities assets creations without elevated level of for the business start-ups and while also indebtedness. In this regard, the government supporting the acquisition of housing facilities. has also taken a decision not to commence In addition, rural infrastructure development any new construction of building for state drive such as “Sapiri Gamak” is expected to institutions for a period of two years. improve the livelihoods of the poor.
The rationalization efforts have been further Archaic regulations, which are detrimental to benefited from the savings arisen from the tax economic growth, are being revamped and IT reductions which help improve cash flows, in based information processors and systems are particular, SOEs together with the decrease expected to spearhead. In this endeavour, the in the budgetary allocations made for the Integrated Treasury Management Information spending agencies. System (ITMIS) will support better Treasury cash management while E-procurement will The total outstanding central government debt be fully implemented during 2020, improving stock increased to 86.8 percent of GDP or Rs. transparency, and reducing the lead time to 13,031 billion at the end of 2019, compared to purchase goods and services. E-documentation 83.7 percent of GDP or Rs. 12,030 billion in 2018. of the Customs to support trade facilitation However, the exposure to the foreign currency and the Revenue Administrative Management in the total debt stock remains a concern which Information System (RAMIS) at the Inland was 42.6 per cent. The government investment Revenue Department will strengthen their is directed towards achieving national security, revenue administration. food security, energy security, creating new industrial initiatives, public health, education, SOEs remains central, in the government’s skills development and knowledge-based economic policy framework amidst their sub- economy. Meanwhile, private sector investment optimal level performance. The lack or absence is geared towards expanding the value-chains of coherent pricing policy, inadequate level in the exports sector while enhancing local of capital infusion, in particular, equity and production. Public investment, therefore, is incompetent or less empowered boards have expected to increase over the medium-term to been identified as the most important factors in spur the economic growth of the country. contributing to the sub-optimal performance. As such, the government introduced a new The ‘National Programme for Eradication of procedure to select members of the Boards of Poverty’ has placed emphasis on eradicating SOEs, resulting in professionals and corporate poverty alleviation and youth unemployment leaders getting appointed to lead specially the in a multi-faceted approach. In this regard, key SOEs to revitalize such entities. a Poverty Alleviation Task Force has been appointed. This move is significantly important A Fuel Price Stability Fund (FPSF) has been at the time of the outbreak of COVID-19 where established to facilitate the most stable retail disruptions in the economic activities have price of petrol and diesel while the benefits resulted in sharp increase of unemployment of low oil prices are distributed in a more and income losses for informal workers who economically viable and equitable manner. constitute about 70 percent of the total While maintaining the retail prices of Petrol labour force and are vulnerable given the and Diesel at present levels, customs duty lack of employment protection. Under this surcharge has been imposed on the imports of programme, 100,000 persons from the most Petrol and Diesel while revenue derived from
13 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 01 Chapter
such imports will be credited to the FPSF. This 1.3 The Way Forward has so far allowed the Ceylon Electricity Board (CEB) and Ceylon Petroleum Corporation (CPC) COVID-19 has posed a series of threats to to settle their dues. human health with no drugs or vaccine so far to combat the outbreak and the pandemic has Notwithstanding the disturbances caused affected more than 6.0 million people across by the outbreak of COVID-19 pandemic, the world. The pandemic has disrupted the headline inflation as measured by the year- Sri Lankan economy and its economic impact on-year (Y-o-Y) change both in the National is uncertain and is yet to be assessed in full. Consumer Price Index (NCPI, 2013=100) and The COVID-19 cases are now declining in Sri the Colombo Consumer Price Index (CCPI, Lanka due to the government’s commitments 2013=100) declined to 5.9 percent and 5.2 per towards advanced medical standards and cent, respectively in April 2020 from 7.0 per practices. In a connected globalized world, cent and 5.4 percent in March 2020 driven by the pandemic has contagion effect beyond the monthly decline in food prices stemming mortality and morbidity to the Sri Lankan from the supply side improvements together economy due to the disruption of production, with the statistical effect of the high base supply chain and employment. Transport, prevailed in April 2019. Core inflation (Y-o-Y), consumption and financial markets adversely which reflects the underlying inflation in the affected. Amidst the global turbulence, the Sri economy, remained low. Lankan economy is expected to grow 1.0–1.5 percent in 2020, compared to its initial growth The country’s reserve position stood at USD 7.6 target of 4.5–4.7 percent anticipated aftermath billion at the end of 2019 and increased to USD of the Presidential Election. As such, a range 7.9 billion at end February 2020. The BOP has of policy measures has been implemented to recorded a surplus in 2019 amounting to USD covering fiscal, monetary and health responses. 377 million. However, Foreign Direct Investment Policy responses to mitigate the pandemic are inflows moderated in 2019. The Board of detailed in Box 1.2. Investment (BOI) is being revamped in terms of its both operational and legal framework The Presidential Task Force on food distribution and benefited with the political stability and and logistics management resolved issues of investor friendly-tax system. Establishing a access and distribution of food items during fabric park in Eravur and the Colombo Port City the lockdown period to support farmers and will be lined up for the investor attraction in Sri consumers. Moreover, the government has Lanka. embarked on an aggressive health campaign to disseminate good hygiene practices among The All Share Price Index (ASPI) of the Colombo people, quarantining COVID-19 affected people Stock Exchange (CSE) crossed 6,200 points with in 34 centres island wide and reducing social an increase of 183 points with an announcement interactions. At the same time, since January of tax relief in December 2019 and following 2020, policy interest rates have been reduced the Presidential Election, however, spill-overs by almost 150 basis points with the Statutory of COVID-19 on the CSE, the ASPI dropped Reserve Ratio (SRR) also being reduced by by almost 23 percent as at May 25, 2020 1.00 percentage points, with the advent of experiencing similar developments even in COVID-19, the CBSL together with the banks major stock markets in the United States of have introduced a stimulus package to support America, the People’s Republic of China, the hardest hit SMEs and other businesses Italy, South Korea, France, Spain, Germany which includes a 6-month debt moratorium and Japan. However, with the opening of the and 6 percent working capital. CSE on May 21, 2020 while there was an initial drop in the ASPI and the S&P SL20, in less At the same time, Sri Lanka is considered than a week of opening the CSE the S&P SL20 vulnerable to weather-related shocks due to index gained almost 6.98 percent marking the the impact of the global climate change which highest daily percentage gains since the index has a direct impact on agriculture, irrigation was introduced in 2012. and hydropower generation. The World Bank has estimated that the impact of such extreme
14 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 01 Chapter weather on the economy could be almost sprinkler or drip irrigation and advanced water 1.2 percent of GDP by 2025 thus creating management practices will be introduced significant issues on the fiscal and physical while addressing the over-reliance on hydro in resilience in the medium term. To address the power generation mix. such shocks, new irrigation systems such as
Box 1.2 | Key Policy Responses to COVID-19
Fiscal Sector
- Establishment of A COVID-19 Healthcare and Social Security Fund with an allocation of Rs. 100 million from the President Fund.
- Granting tax exemptions on the importation or importation and supply or importation and donation of machinery and equipment including medical, surgical, and dental instruments, apparatus, accessories and parts thereof, hospital/medical furniture and drugs, chemicals and similar items, required for the provision of health services to address the COVID 19 Pandemic.
- Granting tax exemptions on the supply or donation of health protective equipment and similar products by export-oriented BOI enterprises to the Ministry of Health and Indigenous Medical Services, Department of Health Services, Tri Forces, Sri Lanka Police and COVID Centre.
- Granting tax exemption on the importation of raw materials and packing materials by pharmaceutical manufacturers for manufacture of pharmaceuticals.
- Removal of the Teledrama Levy imposed on imported foreign films and teledramas.
- Establishment of the Fuel Price Stabilization Fund (FPSF) with an initial capital of Rs. 50 billion. Surcharge on Customs Duty collected on fuel imports will be credited to the FPSF.
- Provisions of Rs. 5,000 cash allowance to senior citizens, differently-abled persons, kidney patients and farmers and displaced daily worker for the month of April and May.
- Allocation of Rs. 1.2 billion for preventive measures.
- Payment of an interest-free advance of Rs. 10,000 to Samurdhi beneficiaries through all Samurdhi Banks.
- Implementation of a debt moratorium facilitated through banks complemented by guarantees from the Central Bank.
- Introduction of the one-month grace period to the general public for the payments of utility bills and monthly credit card bills less than Rs. 50,000.
- Doubling the Agrahara insurance benefits for health workers engaged in Corona prevention activities, Police, Tri-forces personnel and other government employees.
- Reduction of prices for selected essential foods (e.g. Canned Fish, Dhal) and medical items.
- Suspension of the loan payment deductions from salaries of all public sector employees drawn from advance accounts until further notice.
- Extending the payment deadlines for Withholding tax and Value Added Tax.
- Imposition of Maximum Retail Price (MRP) for face masks.
External Sector
- Suspension of Foreign currency outflows in relation to any investments by local persons, outward remittances and repatriation of funds by emigrants for three months.
- Suspension of Letters of Credit (LCs) facilities on the importation of selected motor vehicles and on the importation of selected non-essential goods under LCs, documents against acceptance and advance payments for a period of three months.
- Imposition of restrictions on all non-essential imports with certain conditions.
15 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 01 Chapter
Monetary Sector
- Suspension of the leasing loan repayment for a period of six months for 1.5 million self-employed persons, including owners of three-wheelers, trucks, school buses and vans and self-employed motorists.
- Injection of liquidity amounting Rs. 65 billion into the market to facilitate economic activity.
- Introduction of the Rs. 50 billion re-financing facility to support business and the economy.
- Introduction of a “Special Deposit Account” to support the national efforts to manage the challenges faced due to COVID-19.
- Reduction of the Standing Deposit Facility Rate (SDFR) and Standard Lending Facility Rate (SLFR) by 150 basis points from January to May 2020 to reduce market lending rates.
- Reduction of Statutory Reserve Ratio (SRR) by 1.00 percentage points to 4.00 percent from 5.00 percent.
- Reduction of the interest rate for credit card domestic transactions to 15% upto Rs. 50,000 and reduce 50% in minimum monthly charges.
- Opening of all bank branches during non-curfew hours providing maximum service to customers.
- Issuance of the guidelines to licensed banks for them to maintain uninterrupted credit flows by cutting down on discretionary payments and other non-essential expenditures.
Administrative Operations
- Establishment of the National Operations Centre for Prevention of COVID-19 and appointment of Presidential Task Forces on COVID-19 Health Care, Education, Economic Revival and Poverty Alleviation and a high level coordination council to manage health risks and economy easing strategies.
- Conversion of National Institute of Infectious Diseases and seven other major hospitals into COVID-19 treatment centres and establishing around 34 Quarantine Centres islandwide.
- Increase the Daily PCR testing to over 1,500 tests.
- Delivery of Thriposha, “Poshana Malla” and medicines directly to the targeted beneficiaries.
- Payment of the pensions to 645,179 pensioners though Divisional Secretariats and Postal Services.
- Implementation of the “Saubhagya Home Garden” programme to ensure the food security of the country.
- Provisions of fertilizer, and seeds and plantation material for “Samurdhi” beneficiaries to encourage farming.
- Encourage of domestic manufacturers and inventors to produce requested equipment such as hospital beds, disinfection chambers and sanitizers.
- Relaxing of the restrictions such as curfew on all agricultural activities to meet local and export demand.
- Contribution of USD 5 million to the SAARC COVID-19 Emergency Fund.
- Arrangement of Sri Lankan Airline flights to bring back Sri Lankans stranded due to COVID-19 in India, UK, China and other countries.
- Issuance of Guidelines to carry out “work from home” activities especially for public sector.
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1.4 Medium-term Strategy and with the increase in non-performing loans in Outlook 2020–2024 the financial sector will negatively impact the envisaged economic revival. The economic The COVID-19 has created severe challenges. impact and policy measures to contain the The real GDP is expected to decline to around spread of the pandemic imposes additional 1.0–1.5 percent in 2020. A gradual pick up is stress to the fiscal sector with the overall fiscal expected in 2021 returning the economy to deficit expected to shoot to 8.5 percent of normalcy. With the revival of the domestic GDP in 2020. However, it will contain to 6.5 supply chain in agriculture and strong percent of GDP in 2021 and stabilize at 4.0 participation of private sector in electricity and percent by 2025. The slowdown of economic telecommunication services and rebounding, activity and disruptions are expected to result in particular, the domestic tourism sector is in a contraction in government revenue to expected to provide the impetus for recovery 9.3 percent of GDP in 2020 and the revenue in the second half of 2020 and 2021. However, generation is anticipated to increase, the prolonged decline in export earnings, starting from 2021 with the accelerated fiscal lower remittances and the pressure exerted on consolidation measures. the tourism sector and ramification effects on the disruption of value-chain to other sectors
Table 1.2 I Medium-Term Macro-Fiscal Framework % of GDP 2017* 2018* 2019 2020 2021 2022 2023 2024 Actual Actual Provisional Projections Revenue & Grants 13.8 13.5 12.6 9.3 11.8 13.5 14.6 15.4 Revenue 13.7 13.4 12.6 9.2 11.7 13.4 14.5 15.4 Tax Revenue 12.5 11.9 11.6 8.3 10.6 12.1 13.1 14.0 Non-Tax Revenue 1.2 1.4 1.0 0.9 1.1 1.3 1.4 1.4 Grants 0.06 0.09 0.05 0.05 0.05 0.04 0.04 0.03 Expenditure 19.3 18.7 19.4 17.8 18.3 19.3 19.7 20.1 Recurrent Expenditure 14.5 14.5 15.3 15.0 15.4 15.5 15.6 15.7 Interest Expenditure 5.5 5.9 6.0 5.5 5.9 6.0 6.1 6.1 Capital Expenditure & Net Lending 4.8 4.2 4.1 2.8 3.0 3.7 4.1 4.4 Of which Public Investments (a) 4.9 4.4 4.2 2.9 3.0 3.8 4.2 4.5 Current Account Balance -0.7 -1.2 -2.7 -5.8 -3.6 -2.1 -1.1 -0.3 Primary Balance 0.02 0.6 -0.8 -3.1 -0.6 0.2 1.0 1.5 Overall Budget Balance -5.5 -5.3 -6.8 -8.5 -6.5 -5.8 -5.1 -4.6 Deficit Financing 5.5 5.3 6.8 8.5 6.5 5.8 5.1 4.6 Foreign Financing 2.9 3.2 2.4 3.1 2.0 1.7 1.4 1.2 Domestic Financing 2.6 2.1 4.4 5.4 4.5 4.1 3.7 3.4 Central Government Debt (% of GDP) 77.9 83.7 86.8 92.4 89.4 85.1 81.8 77.9 Source: Department of Fiscal Policy and Department of National Budget * Based on Revised GDP as at March 31, 2020
Macro-Fiscal Medium-term strategy has earmarked to contain the fiscal deficit to 4.0 been formulated factoring the impact of the percent by 2025. challenges faced with the COVID-19 outbreak. While the outbreak has given rise to increased The government’s policy strategy is geared expenditures in health, social security etc, towards striking a balance with the mitigating such demands could be managed within the the spread of COVID-19, support the vulnerable, existing limits, by reallocating resources to the entrepreneurs, households and industries, urgent expenditure items. The fiscal indicators regain the loss/weakened economic in 2020 also have been further stressed due activity while maintaining fiscal and financial to the high levels of unpaid government bills. sustainability in the near-term to medium term. With all these challenges, the government has
17 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 01 Chapter
18 02 Economic Developments in 2019 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
2.1 Overview
4,000
In 2019, the Sri Lankan economy subdued to 4,077 4,079 3,886 3,852 3,821 3,842
2.3 percent, reflecting slower recovery after a 3,000 3,610 3,351 Chapter 02 Chapter
series of setbacks, following the Easter Sunday 3,129 Attacks (ESA). The external sector moderated 2,000 US$ in 2019 with a narrowed trade deficit and the improvement of the current account with a 1,000 surplus in the balance of payment (BOP). ESA had a contagion effect to disturb earnings from 0
tourism and remittances. Gross official reserves 2011 2012 2013 2014 2015 2016 2017 2018 2019 remain low relative to the short term external liabilities. Inflation stationed low despite some Source: Department of Census and Statistics volatility in food inflation with the supply-side Table 2.1 | Sectoral GDP Growth Rates in 2019 (%) disruptions. The Central Bank adopted an Sector Q1 Q2 Q3 Q4 Annual accommodative monetary policy stance with GDP 3.8 3.7 9.1 4.8 4.5 an expectation of reduction of market interest (Nominal) rates. The unemployment rate increased to Agriculture -4.2 -6.4 -0.1 -0.4 -2.2 4.8 percent in 2019, compared to 4.4 percent Industry 6.8 6.6 8.9 3.5 7.7 in 2018 due to the increase in the unemployed Services 5.5 6.2 13.1 9.6 6.6 GDP (Real) 3.7 1.6 2.7 2.5 2.3 male population. Meanwhile, the equity market Agriculture 5.5 1.0 0.4 1.6 0.6 demonstrated a sluggish performance in 2019 Industry 3.0 1.4 3.3 4.9 2.7 due to the slowdown of domestic economic Services 4.1 1.6 2.8 4.6 2.3 activities, loss of investor confidence and Source: Department of Census and Statistics security concerns, among others. 2.2 Sri Lankan Economy Figure 2.1 | Quarterly Growth Rates of GDP The Sri Lankan economy slowed down by 4.0 3.9 2.3 percent in 2019, compared to 3.3 percent 4.0 3.7 3.5 growth recorded in 2018 with the adverse
3.0 2.7 impact of the Easter Sunday Attacks (ESA) in the first part of 2019 which had a ramification 1.9 2.0
% 2.0 1.6 effect on the domestic economic activities, in particular, tourism sector. The economy 1.0 has been weakened over the last five years due to multiple reasons and the ESA has 0.0 1st Q 2nd Q 3rd Q 4th Q further exacerbated the weakened economic activities in 2019. The hardest-hit tourism 2018 2019 sector which earns, on average, USD 3,900 Source: Department of Census and Statistics million to the economy excluding the indirect income generation activities generated an Domestic economic activities started to adverse impact on the industrial, services rejuvenate with the fiscal stimulus announced and agricultural activities. However, industrial in the latter part of 2019, however, the spread activities demonstrated a moderate expansion of COVID-19 across the borders including Sri of 2.7 percent, in value-added terms, with the Lanka has prompted to a contraction of the resumption of construction and mining activities world economy which has adverse impacts in the mid of 2019 amidst the sluggishness on the growth prospects of 2020. However, in food, beverages and tobacco sector. The economic growth is expected to an uptick in Services sector, which is the largest sector in the 3rd quarter of 2020 for the economy to the economy with Rs. 5.7 trillion in value-added take off in new trajectory commencing from terms, expanded by mere 2.3 percent growth 4th quarter. due to the slowdown of wholesale and retail trade, transport, financial services and real Figure 2.2 | Per Capita GDP (USD) estate activities coupled with the contraction
20 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 in accommodation, food, beverage sectors. net external demand, arising from the rate of Agriculture sector expanded marginally to expansion of exports of goods and services 0.6 percent in 2019 from 6.5 percent in 2018 are higher than the moderate growth in mainly due to the adverse weather conditions imports of goods and services, improved in prevailed in the country with the sluggish 2019. National savings significantly declined, 02 Chapter growth in vegetables and animal production however, resource gap lessened with the drop together with the contraction in marine fishing, in investment expenditure in 2019. tea, spices, rice and forestry related activities. Investment expenditure declined with the Gross Domestic Products (GDP) at current deterioration of investor confidence together market prices recorded as Rs. 15,016.1 billion or with policy uncertainties prevailed in the country USD 84 billion in 2019, compared to Rs. 14,366.1 amidst the adoption of an accommodative billion or USD 88.4 billion in 2018. Accordingly, monetary policy stance and fiscal stimulus GDP per capita increased by 3.9 percent to Rs. package announced following the ESA in April 688,719 in 2019 from Rs. 662,949 in 2018. Per 2019. In contrast, consumption expenditure capita GDP was USD 3,852 in 2019 and it was grew moderately. With the restriction imposed USD 4,079 in 2018. on the imports of non-essential items, the
Table 2.2 | Gross Domestic Product (GDP) at constant (2010) market prices, 2014 to 2019 Rs. Million 2018/2017 2019/2018 Economic Activity 2014 2015 2016 2017 (a) 2018 (a) 2019 (b) Change Change (%) (%) Agriculture, Forestry and Fishing 639,696 669,725 644,655 642,159 683,816 687,857 6.5 0.6 1 Growing of Cereals (except rice) 13,969 14,984 13,158 11,503 11,736 10,615 2.0 -9.6 2 Growing of Rice 61,019 76,293 52,388 48,648 70,380 70,169 44.7 -0.3 3 Growing of Vegetables 55,244 56,730 58,349 55,240 57,439 58,298 4.0 1.5 4 Growing of Sugar cane, Tobacco and 2,287 1,882 2,347 2,044 1,820 1,973 -11.0 8.4 other non-perennial crops 5 Growing of Fruits 40,888 48,038 46,512 49,961 55,654 60,399 11.4 8.5 6 Growing of Oleaginous Fruits 64,158 67,514 66,971 53,773 57,577 68,062 7.1 18.2 (Coconut, King Coconut, Oil palm) 7 Growing of Tea (Green Leaves) 73,936 72,051 63,972 66,879 67,141 66,300 0.4 -1.3 8 Growing of other beverage crops 1,538 1,259 1,354 1,268 1,592 1,219 25.6 -23.4 (Coffee, Cocoa, etc) 9 Growing of spices, aromatic, drug and 57,505 60,797 62,931 63,200 66,914 66,223 5.9 -1.0 pharmaceutical crops 10 Growing of Rubber 28,688 25,783 23,028 24,165 24,085 21,807 -0.3 -9.5 11 Growing of other perennial crops 15,402 16,839 16,484 16,717 16,303 16,255 -2.5 -0.3 12 Animal Production 47,950 51,857 55,631 58,729 63,418 65,440 8.0 3.2 13 Plant propagation and agricultural 9,767 10,421 10,210 9,238 9,258 8,675 0.2 -6.3 supporting activities 14 Forestry & Logging 47,450 48,362 52,485 62,545 62,020 59,036 -0.8 -4.8 15 Marine Fishing and Marine Aquaculture 105,822 104,413 105,100 103,043 102,175 96,589 -0.8 -5.5 16 Fresh water fishing Fresh water Aquaculture 14,072 12,503 13,735 15,208 16,304 16,797 7.2 3.0 Industries 2,218,711 2,267,725 2,396,833 2,509,421 2,540,315 2,608,211 1.2 2.7 17 Mining and quarrying 201,613 191,145 217,577 237,827 225,505 231,893 -5.2 2.8 18 Manufacture of food, beverages and 513,960 528,821 529,786 534,924 556,140 574,888 4.0 3.4 Tobacco products 19 Manufacture of textiles, wearing 276,800 282,719 289,001 304,090 314,442 326,803 3.4 3.9 apparel and leather related products 20 Manufacture of wood and of products 23,139 27,320 32,855 32,909 33,845 31,178 2.8 -7.9 of wood and cork, except furniture 21 Manufacture of paper products, printing 24,968 27,728 30,283 31,885 32,226 30,803 1.1 -4.4 and reproduction of media products 22 Manufacture of coke and refined 28,723 29,075 31,245 29,743 27,312 33,694 -8.2 23.4 petroleum products 23 Manufacture of chemical products and 82,243 83,179 90,095 93,552 96,761 100,511 3.4 3.9 basic pharmaceutical products
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Table 2.2 | Gross Domestic Product (GDP) at constant (2010) market prices, 2014 to 2019 contd... Rs. Million 2018/2017 2019/2018 Economic Activity 2014 2015 2016 2017 (a) 2018 (a) 2019 (b) Change Change (%) (%) Chapter 02 Chapter 24 Manufacture of rubber and plastic products 71,909 76,144 77,055 86,202 88,147 83,009 2.3 -5.8 25 Manufacture of other non – metallic 78,671 75,191 69,660 77,821 85,031 85,341 9.3 0.4 mineral products 26 Manufacture of basic metals and 24,882 28,953 38,577 43,862 48,111 46,328 9.7 -3.7 fabricated metal products 27 Manufacture of machinery and 32,064 38,848 46,610 50,967 52,075 52,578 2.2 1.0 equipments i.e. 28 Manufacture of furniture 82,748 94,489 96,303 97,920 100,302 100,797 2.4 0.5 29 Other manufacturing and repair 55,993 68,509 70,923 76,943 78,408 75,040 1.9 -4.3 and installation of machinery and equipment 30 Electricity, gas, steam and air 80,298 85,202 92,356 94,803 100,382 104,437 5.9 4.0 conditioning supply 31 Water collection, treatment and supply 11,504 12,023 12,972 13,562 14,351 15,139 5.8 5.5 32 Sewerage, Waste, treatment, and 17,355 21,681 25,539 28,316 30,207 32,403 6.7 7.3 disposal activities 33 Construction 611,842 596,697 645,994 674,097 657,070 683,371 -2.5 4.0 Services 4,618,501 4,894,717 5,127,616 5,313,435 5,555,303 5,680,757 4.6 2.3 34 Wholesale and Retail Trade 884,094 933,216 957,088 993,667 1,040,360 1,071,847 4.7 3.0 35 Transportation of goods and 885,506 931,529 982,703 1,013,857 1,034,755 1,049,566 2.1 1.4 passengers including warehousing 36 Postal and courier activities 4,056 4,052 4,260 4,425 4,485 4,752 1.4 6.0 37 Accommodation, Food and beverage 131,481 134,017 139,443 146,432 154,794 147,671 5.7 -4.6 service activities 38 Programming and broadcasting 2,513 2,624 2,831 2,804 2,519 2,639 -10.2 4.8 activities and audio video productions 39 Telecommunication 30,986 34,146 36,984 41,503 45,830 53,695 10.4 17.2 40 IT programming consultancy and 10,579 12,148 13,015 13,564 15,072 17,044 11.1 13.1 related activities 41 Financial Service Activities Auxiliary 420,223 493,785 554,564 606,512 687,918 701,880 13.4 2.0 financial service 42 Insurance, reinsurance and pension funding 74,978 82,013 92,172 95,925 112,493 118,987 17.3 5.8 43 Real estate activities, including 444,049 489,352 520,085 544,733 566,078 579,601 3.9 2.4 ownership of dwelling 44 Professional services 166,486 154,266 152,229 158,755 165,550 169,523 4.3 2.4 45 Public Administration and defence, 402,205 430,105 452,586 430,672 428,022 437,065 -0.6 2.1 compulsory social security 46 Education 173,751 159,875 171,830 172,701 179,524 185,116 4.0 3.1 47 Human Health Activities, Residential 147,962 160,056 162,405 174,155 179,356 182,777 3.0 1.9 care and social work activities 48 Other personal service activities 839,633 873,534 885,421 913,729 938,547 958,592 2.7 2.1 Gross Value Added (GVA), at basic prices 7,476,908 7,832,167 8,169,103 8,465,015 8,779,434 8,976,825 3.7 2.2 (+) Taxes less Subsidies on Products 758,522 815,667 866,727 894,132 889,166 912,554 -0.6 2.6 Gross Domestic Products (GDP), at 8,235,429 8,647,833 9,035,830 9,359,147 9,668,600 9,889,379 3.3 2.3 Constant Market Price Source: Department of Census and Statistics (a) Revised (b) Provisional
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Table 2.3 | Sectoral Distribution of GDP Growth (%) -Constant (2010) Prices Economic Activity 2015 2016 2017(a) 2018(a) 2019(b) Agriculture, Forestry and Fishing 4.7 -3.7 -0.4 6.5 0.6 1 Growing of Cereals (except rice) 7.3 -12.2 -12.6 2.0 -9.5
2 Growing of Rice 25.0 -31.3 -7.1 44.7 -0.3 02 Chapter 3 Growing of Vegetables 2.7 2.9 -5.3 4.0 1.5 4 Growing of Sugar Cane, Tobacco and Other non-perennial Crops -17.7 24.7 -12.9 -10.9 8.4 5 Growing of Fruits 17.5 -3.2 7.4 11.4 8.5 6 Growing of Oleaginous Fruits (Coconut, King Coconut, Oil Palm) 5.2 -0.8 -19.7 7.1 18.2 7 Growing of Tea (Green Leaves) -2.5 -11.2 4.5 0.4 -1.3 8 Growing of Other Beverage Crops (Coffee, Cocoa, etc) -18.1 7.5 -6.4 25.6 -23.4 9 Growing of Spices, Aromatic, Drug and Pharmaceutical Crops 5.7 3.5 0.4 5.9 -1.0 10 Growing of Rubber -10.1 -10.7 4.9 -0.3 -9.5 11 Growing of Other Perennial Crops 9.3 -2.1 1.4 -2.5 -0.3 12 Animal Production 8.1 7.3 5.6 8.0 3.2 13 Plant Propagation and Agricultural Supporting Activities 6.7 -2.0 -9.5 0.2 -6.3 14 Forestry and Logging 1.9 8.5 19.2 -0.8 -4.8 15 Marine Fishing and Marine Aquaculture -1.3 0.7 -2.0 -0.8 -5.5 16 Fresh Water Fishing and Fresh Water Aquaculture -11.2 9.9 10.7 7.2 3.0 Industries 2.2 5.7 4.7 1.2 2.7 17 Mining and Quarrying -5.2 13.8 9.3 -5.2 2.8 18 Manufacture of Food, Beverages and Tobacco Products 2.9 0.2 1.0 4.0 3.4 19 Manufacture of Textiles, Wearing Apparel and Leather related Products 2.1 2.2 5.2 3.4 3.9 20 Manufacture of Wood and Products of Wood and Cork, except Furniture 18.1 20.3 0.2 2.8 -7.9 21 Manufacture of Paper Products, Printing and Reproduction of Media Products 11.1 9.2 5.3 1.1 -4.4 22 Manufacture of Coke and Refined Petroleum Products 1.2 7.5 -4.8 -8.2 23.4 23 Manufacture of Chemical Products and Basic Pharmaceutical Products 1.1 8.3 3.8 3.4 3.9 24 Manufacture of Rubber and Plastic Products 5.9 1.2 11.9 2.3 -5.8 25 Manufacture of Other Non-metallic Mineral Products -4.4 -7.4 11.7 9.3 0.4 26 Manufacture of Basic Metals and Fabricated Metal Products 16.4 33.2 13.7 9.7 -3.7 27 Manufacture of Machinery and Equipment 21.2 20.0 9.3 2.2 1.0 28 Manufacture of Furniture 14.2 1.9 1.7 2.4 0.5 29 Other Manufacturing and Repair and Installation of Machinery and Equipment 22.4 3.5 8.5 1.9 -4.3 30 Electricity, Gas, Steam and Air Conditioning Supply 6.1 8.4 2.6 5.9 4.0 31 Water Collection, Treatment and Supply 4.5 7.9 4.6 5.8 5.5 32 Sewerage, Waste, Treatment and Disposal Activities 24.9 17.8 10.9 6.7 7.3 33 Construction -2.5 8.3 4.4 -2.5 4.0 Services 6.0 4.8 3.6 4.6 2.3 34 Wholesale and Retail Trade 5.6 2.6 3.8 4.7 3.0 35 Transport of Goods and Passenger including Warehousing 5.2 5.5 3.2 2.1 1.4 36 Postal Courier Activities -0.1 5.1 3.9 1.4 5.9 37 Accommodation, Food and Beverage Service Activities 1.9 4.0 5.0 5.7 -4.6 38 Programming and Broadcasting Activities and Audio Video Productions 4.4 7.9 -0.9 .-10.2 4.8 39 Telecommunication 10.2 8.3 12.2 10.4 17.2 40 IT Programming Consultancy and Related Activities 14.8 7.1 4.2 11.1 13.1 41 Financial Service Activities and Auxiliary Financial Services 17.5 12.3 9.4 13.4 2.0 42 Insurance, Reinsurance and Pension Funding 9.4 12.4 4.1 17.3 5.8 43 Real Estate Activities, Including Ownership of Dwelling 10.2 6.3 4.7 3.9 2.4 44 Professional Services -7.3 -1.3 4.3 4.3 2.4 45 Public Administration and Defence; Compulsory Social Security 6.9 5.2 -4.8 -0.6 2.1 46 Education -8.0 7.5 0.5 4.0 3.1 47 Human Health Activities, Residential Care and Social Work Activities 8.2 1.5 7.2 3.0 1.9 48 Other Personal Service Activities 4.0 1.4 3.2 2.7 2.1 Gross Value Added (GVA), at Basic Prices 4.8 4.3 3.6 3.7 2.2 (+) Taxes less Subsidies on Products 8.3 6.3 3.2 -0.6 2.6 Gross Domestic Products (GDP), at Constant Market Price 5.0 4.5 3.6 3.3 2.3 Source : Department of Census and Statistics (a) Revised (b) Provisional
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AGRICULTURE SECTOR due to the unfavourable weather conditions in major paddy cultivation areas. Agriculture, forestry and fishing sector grew by 0.6 percent in value-added terms in 2019, The Government continued the paddy
Chapter 02 Chapter compared to 6.5 percent recorded in 2018 purchasing programme during 2019/2020 mainly due to the contraction of activities of Maha Season and approximately 51,923 metric marine fishing, tea, rubber, spices, forestry ton of paddy with a cost of Rs 2,480 million together with the moderation growth have been purchased under the programme. of activities such as vegetables, animal The guaranteed paddy purchasing prices for production and freshwater fishing stemming Keeri Samba, Samba and Nadu were Rs. 50 per from the adverse weather conditions prevailed kg, Rs. 41 per kg and Rs. 38 per kg, respectively in the country. Also, growing of cereals, other during 2019. However, the guaranteed paddy beverage crops such as coffee and cocoa etc., purchasing price of paddy increased up to Rs. plant propagation activities contracted during 50 per kg of any variety of paddy by the new the year and sub-sectors such as vegetables government. The farm gate prices of paddy and fruits showed moderate growth in 2019, declined in the first part of 2019 due to the compared to the previous year. However, only bumper paddy harvest in 2018/19 Maha season, the coconut sub-sector significantly expanded however, the paddy prices increased in the in 2019. latter part of 2019 due to the low production of Yala season which has resulted in the increase
Figure 2.3 | Agricultural Sector Composition – 2019 in retail prices, several policy measures have been taken to stabilize the rice price in December 2019 and January 2020 by milling Rice and 40,000 metric tons of paddy stocks stored in Other Cereals 4% 12% the Paddy Marketing Board (PMB) to release Fishing 16% rice to the market through Sathosa Ltd; the Vegetables 8% maximum retail price of Rs. 98 per kg for Samba and Nadu varieties except for Keeri Samba and Suduru Samba was fixed to provide relief to the Foresty and Fruits Logging 9% consumers while preventing price distortions 9% created by rice millers and traders. Under the fertilizer subsidy programme, fertilizer has Animal Oleaginous been provided to farmers at a subsidized price ProducƟon Fruits 9% 10% of Rs. 500 per 50 Kg bag, while with the new Rubber 3% Spices Tea government policy the fertilizer for paddy will 10% 10% be given free from 2020 yala season.
Source: Department of Census and Statistics Tea
Paddy Growing of tea sub-sector contracted by 1.3 percent, in value-added terms, in 2019 from Total Paddy production comprising 2018/19 0.4 percent growth in 2018. Tea production Maha and 2019 Yala seasons increased by 16.9 covering high and low grown tea declined by percent to 4.6 million metric tons in 2019, 1.3 percent to 300.1 million kg in 2019, compared compared to the production of 3.9 million metric to 303.8 million kg in 2018 due to several tons in 2018 benefiting from the increase in net reasons including the demand for salary hikes extent harvested and the yield particularly in and unfavorable weather conditions prevailed Maha season. The highest-ever bumper paddy in tea growing areas. Despite the sluggish production of 3.07 million metric tons recorded production, the tea traded at the Colombo in the 2018/19 Maha season reflecting the Tea Auction (CTA) and the quantity of exports increased extent due to the favourable weather increased in 2019. The average price at the CTA condition prevailed in the paddy growing dropped to Rs. 546.67 per kg in 2019 from Rs. areas. However, paddy production in the 2019 581.58 per kg in 2018. In the same vein, average Yala season declined slightly by 0.9 percent FOB export prices declined to USD 4.6 per kg to 1.52 million metric tons, compared to 2018 in 2019 from USD 5.1 per kg in 2018. The 2020
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first four moths showed a marked improvement coconut growing areas. Coconut production in tea prices and average FOB prices increasing increased by 17.6 percent to 3,086 million nuts to above USD 4.0 per kg. Also, online auction in 2019 from 2,623 million nuts in 2018 which system was introduced in 2020. has resulted in the increase in the production
of desiccated coconut and coconut oil by 79.0 02 Chapter Rubber percent to 44,081 metric tons and 309.2 per cent to 44,648 metric tons, respectively in 2019. In value-added terms, growing of rubber further Imports of Palm oil declined by 28.3 percent to contracted in 2019 to 9.5 percent, compared 155,997 metric tons in 2019. Consequently, the to a negative growth of 0.3 percent in 2018. average retail price of fresh coconuts declined Rubber production sharply dropped by 9.5 by 27.4 percent to Rs. 50.64 per nut in 2019 percent to 74.8 million kg in 2019 from 82.6 while the average price of coconut oil dropped million kg in 2018 due to the setback arising by 8.0 percent to Rs. 260.16 per 750 ml bottle from low attractive producer prices over the in 2019. With the improved supply condition, years and reduction of a number of tapping days coconut prices at Colombo Coconut Auctions stemming from the rainy weather conditions (CCA), the average auction prices declined to in rubber growing areas. Consequently, sheet Rs. 27.55 per nut in 2019 from Rs. 45.55 per nut rubber production declined by 9.5 percent to in 2018. 37.4 million kg in 2019 from 41.3 million kg in 2018 while crepe rubber production recorded Minor Export Crops a marginal drop of 0.5 percent to 14.1 million kg in 2019. Reflecting the contraction of domestic In 2019, growing of spices, aromatic, drug and manufacturing of rubber subsector in 2019, pharmaceutical crops sub-sector contracted domestic rubber usage in the industrial sector by 1.0 percent, compared to 5.9 percent declined by 16.8 percent to 113 million kg. The growth recorded in 2018 due to the combined natural rubber exports dropped by 7.0 percent effect on the increase in production of clove, to 13.0 million kg in 2019. The average prices of cocoa, areca-nut, nutmeg and the decline in Ribbed Smoked Sheet No. 1 (RSS1) and Latex production of pepper, cinnamon, cardamom Crepe rubber at the Colombo Rubber Auction and citronella. The producer prices of pepper auctioned at low prices of Rs. 288.51 per kg declined by 11.6 percent to Rs. 517.60 per kg and Rs. 302.32 per kg, respectively. in 2019 due to the low demand for the pepper in the international market. Earnings from the Coconut minor export crops dropped by 1.7 percent due to the combined result on the increased Growing of coconut in value-added terms, exports volumes of clove, nutmeg and mace significantly increased by 18.2 percent in 2019 and the decline in export volumes of pepper, from 7.1 percent in 2018 due to the favourable cardamom and coffee. weather conditions prevailed in 2018 in
Table 2.4 | Minor Export Agricultural Crops: Production and Exports (MT) Production Export * Crop 2016 2017 2018 (a) 2019 (b) 2016 2017 2018 (a) 2019 (b) Cinnamon 18,945 22,341 20,398 20,352 14,693 16,617 17,537 17,176 Pepper 18,476 29,546 22,551 22,156 7,876 13,309 13,535 8,261 Cocoa 650 471 413 548 35 2,584 296 520 Cardamom 120 113 86 69 779 839 108 13 Clove 1,823 6,413 3,360 4,786 1,843 7,806 3,279 5,115 Nutmeg & Mace 2,723 3,545 4,180 5,119 1,705 2,043 1,938 3,023 Sources: Central Bank of Sri Lanka and Sri Lanka Customs (a) Revised (b) Provisional * Including Re-export Other Crops inclement weather condition. Production of maize fell by 9.0 percent to 245,647 metric tons The production of Other Field Crops (OFCs) in 2019 while big-onion production declined dropped by 10.1 percent to 545,358 metric by 35.7 percent to 18,022 metric tons in 2019. tons in 2019 reflecting the heavy crop damage The decline in Big-onion production and the due to "Sena" caterpillar infestation and restriction imposed by India on Big-onion
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exports contributed to escalation of prices in while dried and canned fish imports increased Big-onion in the local market. However, the by 16.8 percent and 31.1 percent, respectively production of potatoes increased to 101,642 in 2019. Fish exports expanded with a value metric tons in 2019 resulting in a decline in increase in 11.5 percent to Rs. 53,483 million
Chapter 02 Chapter potato imports by 10.5 percent. Production and volume increase in 2.8 percent to 28,771 of fruits and vegetables declined considerably metric tons. The earnings from ornamental fish in 2019 due to the pest damage and extreme were Rs. 2,913 million in 2019. weather condition prevailed in the country. The total vegetable production dropped by INDUSTRY SECTOR 11.8 percent to 1,497,733 metric tons in 2019, In 2019, industry sector expanded by 2.7 compared to 1,698,698 metric tons in 2018. percent, in value-added terms, compared to The fruit production also recorded a drop of 3.1 1.2 percent growth recorded in 2018 benefiting percent in 2019. Meanwhile, sugar production from the construction and mining activities increased by 2.3 percent to 52,304 metric tons amidst a slower growth in the manufacturing in 2019 with the increased production of Gal sector, in particular, textiles and apparel and Oya and Sevanagala factories. chemical and pharmaceutical products. The construction sector, which corresponded the Livestock highest share to the GDP, grew by 4.0 percent Milk production declined by 6.3 percent to in value-added term in 2019, compared to 447.6 million litres in 2019 from 477.4 million the contraction of 2.5 percent in 2018. The litres mainly due to the outbreak of foot and sectors such as food, beverages and tobacco, mouth disease in the second half of 2019. The electricity and gas related activities and producer prices increased to Rs. 69.96 per litre manufacture of machinery and equipment in 2019 from Rs. 66.88 per litre in 2018. The sectors demonstrated positive growth. import of milk powder declined by 5.3 percent Mining and Quarrying to 93,749 metric tons in 2019. Meanwhile, the poultry sector showed an improvement in Mining and quarrying sub-sector expanded, in 2019 and chicken production increased by 5.0 value-added terms, by 2.8 percent in 2019 from percent to 225,000 metric tons in 2019. Further the negative growth of 5.2 percent recorded egg production increased by 5.7 percent to in 2018 benefiting from the recovery of 2,084 million eggs. Production of pork and construction activities. Gem mining activities mutton also increased by 7.8 percent to 11,240 expanded with the increase in export volume. metric tons and 15.3 percent to 1,880 metric Sand mining activities recorded a slowdown tons, respectively while beef production with the completion of the initial stage of declined by 5.5 percent to 29,990 metric tons. Colombo Port City Development Project amidst the stimulation from the increased Marine and Inland Fishing construction activities. The fisheries sector, comprising marine and Figure 2.4 | Industry Sector Composition – 2019 inland fishing sectors, recorded a mixed ConstrucƟon Mining and performance in 2019. Marine fish production, 26% Quarrying 9% which accounts for nearly 82 percent of the total fish production, declined significantly Electricity,Gas by 9.2 percent to 172,910 metric tons in Steam and Air 2019, particularly due to weather related CondiƟoninig Supply disturbances. However, inland fisheries and 4% aquaculture sector production showed a positive growth by 3.0 per cent in 2019 mainly
due to the release of fingerlings in reservoirs/ Water tanks. Meanwhile, production of shrimp farms CollecƟon, Treatment and Sewerage, considerably declined by 21.8 percent to 6,400 Supply Waste metric tons in 2019 mainly due to the white spot 1% Treatment and Disposal syndrome disease. Total fish imports increased AcƟviƟes Manufacturing by 13.2 percent to 95,637 metric tons in 2019 1% 59% Source: Department of Census and Statistics
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Manufacturing for such products including the fertilizer. Due to the low production of wooden and plastic Manufacturing industries recorded a marginal furniture and mattress, the manufacturing of growth of 1.9 percent in 2019, compared to the furniture sector marginally increased by 3.6 percent growth in 2018 mainly due to the 0.5 percent in 2019, compared to 2.4 percent in 02 Chapter adverse impact of the Easter Sunday attacks. 2018. Similarly, the manufacture of other non- Manufacture of textile and wearing apparels metallic mineral products sub-sector grew by related activities grew by 3.9 percent in 0.4 percent in 2019. The manufacture of rubber 2019, compared to 3.4 growth in 2018. Food and plastic products and leather and related beverages and tobacco products sub-sector products contracted by 5.8 percent in 2019 recorded a slowdown of 3.4 percent in 2019 with the decline in local demand for shoes and from 4.0 percent in 2018 mainly driven by the other leather products. Other sectors such as decline in domestic demand triggered by the the manufacture of wood, paper products, ESA and increased input cost of the production. basic metals and other manufacturing sub- The manufacture of the chemicals and chemical sectors contracted in 2019. However, the products sub sector expanded by 3.9 percent manufacture of coke and refined petroleum in value-added terms in 2019, compared to 3.4 products increased significantly. percent in 2018 due to increase in demand
Table 2.5 | Performance of the Selected Industrial Exports USD Million.
Item 2014 2015 2016 2017 2018 2019 (a)
Food , Beverages and Tobacco 289 307 324 393 462 447 Animal Fodder 64 75 68 80 108 129 Textiles and Garments 4,930 4,820 4,884 5,032 5,318 5,596 Rubber Products 890 761 768 835 875 866 Gems, Diamonds and Jewellery 394 332 274 258 278 306 Machinery and Mechanical Appliances 343 294 318 371 435 400 Transport Equipment 152 244 131 162 120 146 Petroleum Products 338 374 287 434 622 521 Chemical Products 134 126 126 146 167 176 Wood and Paper Products 123 112 117 139 141 129 Leather Travel Goods and Footwear 139 136 166 158 148 103 Plastics and Articles thereof 67 62 66 75 78 73 Base Metals and Articles 62 56 90 116 165 177 Ceramic Products 41 35 34 34 31 30 Other Industrial Exports 296 283 288 309 311 326 Total Industrial Exports 8,262 8,017 7,940 8,542 9,258 9,426 Source: Central Bank of Sri Lanka (a) Provisional
Other Industry activities such as electricity, supply activities grew by 5.5 percent in 2019 water and sewerage and waste management while sewerage, waste treatment and disposal activities exhibited positive developments in activities expanded by 7.3 percent in 2019. 2019. Electricity sector expanded by 4.0 percent in 2019, compared to 5.9 percent in 2018 owing Construction to the moderate increase in total electricity generation by 3.3 percent in 2019, compared Construction activities significantly expanded to 4.8 percent growth recorded in 2018. The by 4.0 percent in 2019, compared to negative hydropower generation dropped significantly growth of 2.5 percent recorded in 2018 in value by 24.9 percent in 2019 mainly due to low rainfall added terms with the completion of mega-scale in the water catchment areas. Consequently, construction projects such as the extension of thermal power generation increased notably to Southern Expressway, Outer Circular Highway compensate for the reduction in hydropower and other condominium development generation. Water collection, treatment and projects. With the recovery of construction
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activities, local cement production noticeably terms of value and volume declined due to the increased by 19.5 percent which has resulted drop in importation of consumer goods and in the contraction of cement imports by 7.6 intermediate goods. However, the total export percent. However, the delay in payments for volume increased with the rise in industrial
Chapter 02 Chapter the government related projects has prompted exports and agricultural exports. to increase the severe financial burden to the contractors in 2019. Transportation of Goods and Passengers
SERVICES SECTOR The value-added transportation of goods and passengers recorded a slower pace of growth of The Services activities adversely impacted in 1.4 percent in 2019, compared to the growth of 2019 mainly due to the Easter Sunday attacks 2.1 percent in 2018. This setback was due to the which have compelled to shrinkage of tourism- drop in mobility stemming from the tightened related activities such as accommodation, security in the country and the drop in tourism transportation and trade sub-sectors. Services related activities aftermath of the Easter sector moderately expanded by 2.3 percent Sunder attacks. Consequently, total passenger in 2019 from 4.6 percent in 2018. Financial kilometres operated by Sri Lanka Transport services, insurance and real estate activities Board and private bus operators declined by grew moderately in 2019. Other services 16.8 percent to 66.2 billion kilometres in 2019 such as broadcasting, telecommunication, while the passenger kilometers operated IT programming, public administration by Sri Lanka Railways also dropped by 5.2 demonstrated a significant growth whereas percent to 7.3 billion kilometres in 2019. The education, health and other personal service total passenger kilometers flown by Sri Lankan activities recorded positive developments. Airlines declined notably by 4.1 percent in 2019 to 15.5 billion kilometres owing to the Wholesale and Retail Trade sharp drop of tourist arrivals during the year. Meanwhile, port services also demonstrated The wholesale and retail sector recorded a slow performance during the year and total a moderate growth of 3.0 percent in 2019, container traffic and cargo handled by Sri compared to 4.7 percent growth in 2018, in Lanka Ports Authority grew moderately by 2.6 value-added terms. This sector was adversely percent to 7.2 million TEUs and 1.9 percent to affected by the lower demand in the economy 107 million metric tons, respectively in 2019. following the Easter Sunday attacks and the Besides, postal and courier services expanded curtailment of imports. As such, total imports in by 5.9 percent in 2019 from 1.4 percent in 2018.
Table 2.6 | Selected Indicators of Services Sector Indicator 2016 2017 2018 (a) 2019 (b) Port Services Vessels Arrived *(b) 5,023 4,879 4,874 4,697 Total Cargo Handled (MT '000) 86,546 93,857 104,934 106,979 Total Container Traffic (TEU '000) (c) 5,735 6,209 7,047 7,228 Transshipment Container ** (TEU '000) 4,435 4,826 5,704 5,955 Telecommunication Sector Fixed Telephone Lines*** (No '000) 1,166 1,198 1,216 1,245 Cellular Phones (No '000) 26,228 28,199 32,528 32,884 Wireless Phone (No '000) 1,384 1,405 1,269 1,055 Internet and E mail Subscribers ('000) (d) 4,921 5,904 10,563 13,408 Health Sector Private Hospitals 225 181 191 207 Public Hospitals 610 612 612 603 No of Beds (Government) 76,829 76,569 76,824 77,964 No of Doctors (Government) 20,458 20,349 19,692 18,130 No of Nurses (Government) 32,499 34,221 34,714 38,276 Financial Sector Bank Branches and Other Outlets 6,107 6,213 6,882 7,387
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Table 2.6 | Selected Indicators of Service Sector contd... Indicator 2016 2017 2018 (a) 2019 (b) Credit Cards in Use 1,315,915 1,486,545 1,710,671 1,854,103 Registered Finance Companies 46 45 43 42
Registered Leasing Companies 7 6 5 4 02 Chapter Tourism Sector Tourist Arrivals 2,050,832 2,116,407 2,333,796 1,913,702 Tourist Earnings (USD Mn) 3,518 3,925 4,381 3,607 Annual Room Occupancy Rate 74.8 73.3 72.8 57.1 Transport Services (New Registrations) Buses 2,685 3,331 2,957 1,613 Cars 45,172 39,182 80,776 38,232 Dual Purpose Vehicles 26,887 16,742 16,931 13,459 Goods Transport Vehicles – Lorries (e) 7,563 11,432 9,371 5,223 Motor Cycles 340,129 344,380 339,763 284,301 Three Wheelers 56,945 23,537 20,063 15,490 Land Vehicles – Tractors 10,285 8,821 7,460 5,696 Land Vehicles – Trailers 3,662 4,228 2,822 1,970 Source: Sri Lanka Ports Authority, Telecommunications Regulatory Commission of Sri Lanka, Ministry of Health & Indigenous Medicine, Department of Motor Traffic, Sri Lanka Tourism Development Authority, Central Bank of Sri Lanka (a) Revised (b) Provisional (c ) Including KKS, Myliddy, Point Pedro & Karrainagar Ports (d) Including mobile internet connections (e) Including special purpose vehicles Motor Lorry, Lorry others (Prime movers, Trailors, Fork Lift, Ambulances) * Excluding of Sailing craft, Naval Vessels, Fishing trawlers,Yatch & Dredgers **Including Re-Stowing *** excluding fixed wireless phones Accommodation, Food and Beverage in non-bank financial institutions and slower Services pace of deposits base of the banks. Insurance activities increased in a slower pace of growth Reflecting the sharp reduction in tourist arrivals of 5.8 percent in 2019, compared to 17.3 percent and domestic tourist activities following the recorded in 2018. Meanwhile, real estate related Easter Sunday attacks, the accommodation, activities increased by 2.4 percent in 2019 from food and beverage services sector contracted 3.9 percent in 2018. by 4.6 percent in 2019, compared to the higher growth of 5.7 percent in 2018. Tourist Other Service Activities arrivals declined by 18.0 percent to 1.9 million persons in 2019, compared to arrivals of 2.3 The value-added Telecommunication activities million tourists in 2018 resulting in a decline grew by 17.2 percent in 2019, compared to in earnings from tourism to USD 3,607 million 10.4 percent growth in 2018 mainly due to the in 2019 from USD 4,381 million in 2018. Room increase in cellular phone connections, internet occupancy at graded hotels approved by and e-mail subscribers during the year. IT the Sri Lanka Tourism Development Authority programming consultancy and related activities (SLTDA) declined considerably to 57.1 percent grew by 13.1 percent in 2019, compared to in 2019, compared to 72.8 percent in 2018. 11.1 percent growth in 2018 reflecting the continuous developments in the IT industry. Financial, Insurance and Real Estate Activities Public administration and defence and compulsory social security services grew by Financial and auxiliary services grew marginally 2.1 percent during 2019 against the contraction by 2.0 percent in 2019, compared to a higher of 0.6 percent in 2018. Meanwhile, education pace of growth of 13.4 percent in 2018, in value- and health services grew by 3.1 percent and added terms due to the slow performance of 1.9 percent, respectively in 2019. Expansion gross loans and advances in the banking sector of professional and other personal service together with the decline in such advances activities grew at a slower growth of 2.1 percent in 2019, compared to 2.7 percent in 2018.
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Domestic Demand and Consumption Expenditure in constant prices, consumption Domestic demand comprising of the expenditure grew by 3.5 percent whereas consumption and investment expenditure capital expenditure contracted by 9.5 percent Chapter 02 Chapter of the country expanded moderately by 3.3 in 2019 leading to a net effect of 0.7 percent percent to Rs. 15,936 billion at current market contraction in domestic demand. Exports of prices during 2019, compared to 8.0 percent goods and services at constant prices, grew (Rs. 15,428 billion) growth in 2018 driven by by 7.1 percent whereas imports of goods and the drop of 5.9 percent in the investment services contracted by 5.8 percent in 2019 expenditure (gross domestic capital formation) and the combined effect led to a net external together with the growth of 6.9 percent in demand to record a significant improvement of consumption expenditure. 23.2 percent in 2019.
External demand comprising exports and The private and government consumption imports of goods and services at current accounted for 78.7 percent to the GDP grew market prices increased by 13.4 percent in 2019, by 6.9 percent at constant prices in 2019. compared to negative growth of 10.3 percent Accordingly, private consumption recorded a in 2018: exports of goods and services grew by growth of 6.8 percent to Rs. 10,406 billion in 5.5 percent in 2019, compared to 13.2 percent in 2019, compared to growth of 9.0 percent in 2018; imports of goods and services marginally 2018. Meanwhile, government consumption at grew by 0.9 percent in 2019, compared to 12.4 current prices grew by 8.1 percent to Rs. 1,417 percent in 2018. The net effect of exports and billion in 2019, compared to the highest growth imports of goods and services prompted to of 15.2 percent recorded in 2018. Thus, GDP at improvement in net external demand in 2019. constant market prices grew by 2.3 percent to Consequently, GDP at current market prices Rs. 9,889 billion in 2019. grew by 4.5 percent to Rs. 15,016 billion in 2019.
Table 2.7 | Domestic Demand, Supply and Trade Balance (a) Current Market Prices Item Change (%) As a Percent of GDP (Rs. Bn.) 2017(b) 2018(b) 2019(c) 2017(b) 2018(b) 2019(c) 2017(b) 2018(b) 2019(c) Domestic Demand 14,291 15,428 15,936 11.0 8.0 3.3 107.2 107.4 106.1 Consumption 10,080 11,056 11,823 5.8 9.7 6.9 75.6 77.0 78.7 Private 8,943 9,745 10,406 5.0 9.0 6.8 67.1 67.8 69.3 Government 1,137 1,311 1,417 12.0 15.2 8.1 8.5 9.1 9.4 Investment 4,211 4,372 4,113 26.0 3.8 -5.9 31.6 30.4 27.4 Net External Demand -963 -1,062 -919 -10.2 -10.29 13.4 -7.2 -7.4 -6.1 (Trade balance) Export of Goods and Services 2,910 3,292 3,472 14.6 13.2 5.5 21.8 22.9 23.1 Import of Goods and Services 3,873 4,354 4,392 13.4 12.4 0.9 29.1 30.3 29.2 Domestic Supply = GDP 13,328 14,366 15,016 11.1 7.8 4.5 100.0 100.0 100.0 Sources: Department of Census and Statistics and Central Bank of Sri Lanka (a) The data is based on the base year 2010 GDP estimates of the Department of Census and Statistics (b) Revised (c) Provisional
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Table 2.8 | Aggregate Supply and Use of Goods and Services (a) Item Rs. Bn. Change (%) As a % of GDP 2017(b) 2018(b) 2019(c) 2018(b) 2019 (b) 2018(b) 2019(c) Aggregate Demand 17,201 18,720 19,408 8.8 3.7 130.3 129.2
Domestic Demand 14,291 15,428 15,936 8.0 3.3 107.4 106.1 02 Chapter External Demand = Export of Goods and Services 2,910 3,292 3,472 13.1 5.5 22.9 23.1
Aggregate Supply 17,201 18,720 19,408 8.8 3.7 130.3 129.2 Gross Domestic Product 13,328 14,366 15,016 7.8 4.5 100.0 100.0 Import of Goods and Services 3,873 4,354 4,392 12.4 0.9 30.3 29.2
Trade Gap of Goods and Services -963 -1,062 -919 -10.3 13.4 -7.4 -6.1 Share of Imports in Aggregate Supply (%) 22.5 23.3 22.6 3.3 -2.7 0.2 0.2 Sources: Department of Census and Statistics and Central Bank of Sri Lanka (a) The data is based on the base year 2010 GDP estimates of the Department of Census and Statistics (b) Revised (c) Provisional
Investment and Savings GDP declined to 25.3 percent in 2019 from 27.3 percent in 2018. The national savings- Investment expenditure contracted by 5.9 investment gap narrowed to 2.1 percent of percent to Rs. 4,113 billion in 2019, compared GDP in 2019 from 3.1 percent of GDP in 2018 to the growth of 3.8 percent recorded in 2018 reflecting the higher contraction in investment due mainly to the changes in inventories. expenditure. Meanwhile, Foreign Direct Investment (FDI) including loans to companies registered under Figure 2.5 | Savings – Investment Gap BOI, declined by 49.8 percent to USD 1,189 million in 2019, compared to USD 2,367 million 40 35 in 2018. 30 31.6 31.2 25 30.4 27.9 27.4
20 23 Table 2.9 | Investment and Savings 24.4 23.6 21.3
15 20.6 Rs. Bn. As a % of GDP Item GDP % of 10 (a) (b) 2018 2019 2018 2019 5 Domestic Investment 4,372 4,113 30.4 27.4 0 Domestic Savings 3,310 3,193 23.0 21.3 -5 -2.2 -7.2 -6.1 Private 3,480 3,604 24.2 24.0 -10 -7.3 -7.4 2015 2016 2017 2018 2019 Government -170 -410 -1.2 -2.7 Savings Investment Saving - Investment Gap Investment – -1,062 -920 -7.4 -6.1 Domestic Savings Gap Source: Central Bank of Sri Lanka Net Factor Income -390 -432 -2.7 -2.9 From Abroad (c) Net Foreign Private 1,000 1,031 7.0 6.9 2.3 External Sector Transfers National Savings 3,920 3,792 27.3 25.3 The external sector demonstrated a mixed Sources: Department of Census and Statistics and Central Bank of performance in 2019 due to the uncertain Sri Lanka environment prevailed in the country engulfed (a) Revised by the Easter Sunday attacks. The continued (b ) Provisional (c ) The difference with the BOP estimates is due to the time lag in expansion of trade deficit reversed in 2019 compilation. and deficit narrowed significantly to USD 7,997 million, compared to USD 10,343 million in 2018 The national savings declined by 3.3 percent to due to the shrinkage of merchandise imports Rs. 3,792 billion in 2019, compared to Rs. 3,920 stemming from the policy measures taken to billion in 2018. This decline was led by negative curtail imports of gold and motor vehicles. The growth of domestic savings and slower growth current account deficit improved with a deficit of net current transfers from the rest of the of USD 1,808 million in 2019, compared to a world. National savings as a percentage of deficit of USD 2,799 million in 2018. Earnings
31 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
from exports slightly increased by 0.4 percent Figure 2.6 | Workers’ Remittances to USD 11,940 million in 2019, compared to USD 11,890 million in 2018 benefiting from the 7,500 7,000 increased in exports of textiles and garments 6,500
Chapter 02 Chapter 6,000 by 5.2 percent. Imports significantly declined 5,500 by 10.3 percent to USD 19,937 million in 2019 5,000 4,500 from USD 22,233 million in 2018 mainly driven US$ Mn. 4,000 by the drop in import expenditure on fuel, 3,500 3,000 machinery and equipment, building materials 2,500 and dairy products covering contraction of 2,000 import expenditure on consumer goods, 1,500 2011 2012 2013 2014 2015 2016 2017 2018 2019 intermediate goods and investment goods. However, Services account balance recorded a Source: Central Bank of Sri Lanka surplus of USD 2,849 million in 2019 amidst the drop in earnings from tourism and transport Figure 2.7 | Growth in Exports & Imports and Trade services. Meanwhile, primary account deficit Balance (Quarterly)
expanded slightly while secondary income 20 account demonstrated a surplus of USD 5,766 2,000 0 million which was a contraction of USD 397 1,000 million. -20 0
% -40
Reflecting the increased inflows from -60 -1,000 US$ Mn.
International Sovereign Bonds (ISBs) and two -80 -2,000 tranches from the Extended Fund Facility -100 -3,000 Programme of the IMF, financial account further Jun Jun Jun Jun Sep Sep Sep Sep Dec Dec Dec expanded in 2019 amidst the moderate inflows Dec 2019-Mar 2018-Mar 2017-Mar of foreign direct investments coupled with 2016-Mar
net outflows recorded in the government Trade Balance (Right Axis) Growth in Exports (Left Axis) securities and equity market. With the eruption Growth in Imports (Left Axis) of COVID-19, the government has taken several Source: Central Bank of Sri Lanka bold measures to mitigate the adverse impact on the external sector including the exchange rate. Importation of non-essential items such as Table 2.10 | External Trade motor vehicles and other consumer goods has USD Million been temporarily suspended while allowing 2016 2017 2018 (a) 2019 (b) health related equipment free from taxes and Exports 10,310 11,360 11,890 11,940 duties. Agricultural 2,326 2,767 2,579 2,462 Exports Meanwhile, gross official reserves as at end Industrial 7,940 8,542 9,258 9,426 Exports December 2019 stood at USD 7.6 billion and Mineral Exports 29 35 34 34 the reserve position has improved as at end February 2020 recording USD 7.9 billion. Unclassified 15 17 18 18 Benefiting from the significant contraction Imports 19,183 20,980 22,233 19,937 of trade deficit, Sri Lankan rupee marginally Consumer 4,319 4,503 4,980 3,957 appreciated by 0.6 percent against the USD Goods in 2019, compared to a sharp depreciation Intermediate 9,870 11,436 12,488 11,370 Goods recorded in 2018. Investment 4,981 4,895 4,690 4,603 Goods Unclassified 13 147 75 8 Trade Deficit -8,873 -9,619 -10,343 -7,997 Source: Central Bank of Sri Lanka (a) Revised (b) Provisional
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Figure 2.8 | Trade Balance Exports 25 Earnings from exports increased marginally 20 by 0.4 percent to USD 11,940 million in 2019, 15
compared to USD 11,890 million in 2018 due 02 Chapter 10 to the increased earnings from textiles and
5 garments by 5.2 percent and coconuts by 6.0
US $ Bn. US $ percent. Industrial exports slightly increased 0 by 1.8 percent and other categories such as -5 agricultural and mineral exports contracted by -10 4.6 percent and 1.4 percent, respectively.
-15 2015 2016 2017 2018 2019 Figure 2.10 | Composition of Exports
Exports Imports Trade Balance 12,000 Source: Central Bank of Sri Lanka 10,000 Figure 2.9 | Balance of Payments 8,000
6,000 4 US$ Mn. 4,000 2 2,000
0 0 2015 2016 2017 2018 2019 % of GDP
-2 Agricultural Industrial Mineral Other
Source: Central Bank of Sri Lanka -4 2015 2016 2017 2018 2019 Industrial exports, which contributed to 78.9
Current Account Capital and Financial Account percent to the total exports, grew marginally Other Balance of Payments by 1.8 percent to USD 9,426.3 million in 2019, compared to USD 9,258.2 million in 2018. Source: Central Bank of Sri Lanka Earnings from textiles and garments, with
Table 2.11 | Import & Export of Services a share of 46.9 percent to the industrial earnings in 2019, increased by 5.2 percent USD Million to USD 5,596.5 million benefiting from the Imports Exports Item increased demand from the USA, EU countries, 2018 2019(a) 2018 2019 (a) in particular, after the reinstatement of GSP+ Transportation 1,737 1,710 2,486 2,339 facility and other markets such as Canada and Computer and 372 380 848 899 Japan etc. As the third-largest contributor, Information exports of rubber products contracted by Travel and Tourism 1,660 1,638 4,381 3,607 1.1 percent to USD 866.1 million in 2019 due Communication 112 135 147 155 to the decline in tyre exports. Earnings from petroleum products declined by 16.2 percent Construction 33 35 65 67 in 2019 to USD 521.1 million in 2019 due to Insurance 97 102 130 137 lower demand for bunkering and aviation fuel Financial Services 447 470 242 213 after the Easter Sunday attacks. Earnings from Other Business 75 78 40 35 food beverages and tobacco exports declined Government 75 77 35 21 to USD 447.0 million in 2019, compared to USD Expenditure n.i.e. 462.3 million in 2018 due to lower production. Total 4,608 4,625 8,374 7,474 Earnings from gems, diamonds and jewellery Source: Central Bank of Sri Lanka expanded by 10.0 percent to USD 305.7 million (a) Provisional in 2019. Exports of machinery and mechanical appliances recorded negative growth of 8.0 percent to USD 400 million in 2019 whereas
33 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
export earnings from printing and transport is the largest contributor to the agricultural equipment sectors significantly augmented exports contracted by 5.7 percent to USD in 2019. Meanwhile, exports of leather, travel 1,346 million in 2019 from USD 1,428 million in goods and footwear and exports of paper 2018 driven mainly by the decline in average
Chapter 02 Chapter products, plastic articles and ceramic products tea export prices by 9.1 percent to USD 4.60 declined in 2019. per kg from USD 5.06 per kg. However, the volume of tea exports increased to 293 million Table 2.12 | Value of Agricultural Exports kg in 2019 from 282 million kg in 2018. Turkey, USD Million Russia and the Middle East countries continued Category 2015 2016 2017 2018 2019(a) be the major buyers of tea. In the same vein, Tea 1,340 1,269 1,530 1,429 1,346 earnings from rubber exports declined by 23.4 Rubber 26 33 39 32 24 percent to USD 24 million in 2019, compared to Coconut 352 366 348 311 330 USD 32 million in 2018. Earnings from spices Other Agricultural 600 489 610 542 499 declined by 13.2 percent due to lower export Exports quantity of cinnamon and pepper. However, Seafood 163 170 241 266 263 export earnings from cloves, nutmeg and mace Total 2,481 2,326 2,767 2,579 2,462 increased during the year. Meanwhile, coconut Sources: Sri Lanka Customs and Central Bank of Sri Lanka (a) Provisional exports increased by 6.0 percent to USD 329 million while vegetable exports increased by Overall, agricultural exports, which shares 20.6 13.3 percent to USD 312 million in 2019. Earnings percent of the total exports, declined by 4.6 from seafood exports declined due to the drop percent to USD 2,462 million in 2019, compared in demand. Earnings from mineral exports to USD 2,579 million in 2018 due mainly to declined by 1.4 percent in 2019. lower earnings of key agricultural exports such as tea, rubber and spices. Tea exports, which
Table 2.13 | Value of Industrial Exports USD Million Category 2015 2016 2017 2018 2019 (a) Textile and Garments 4,820 4,884 5,032 5,318 5,597 Rubber Products 761 768 835 875 866 Petroleum and Chemical Products 500 413 581 622 521 Gems, Diamonds and Jewellery 332 274 257 278 306 Machinery and Mechanical Appliances 294 318 371 435 400 Food, Beverages and Tobacco 307 324 393 462 447 Other Industrial Exports 1,003 960 1,073 1,268 1,290 Total 8,017 7,940 8,542 9,258 9,426 Sources: Sri Lanka Customs and Central Bank of Sri Lanka (a) Provisional
Imports
Total imports expenditure significantly imports, declined by 20.5 percent to USD dropped by 10.3 percent to USD 19,937 million 3,957 million in 2019, compared to USD 4,980 in 2019, compared to USD 22,233 million in million in 2018 owing to the contraction of 2018 reflecting the curtailment of non-essential imports of food and beverages and non-food imports in the latter part of 2019. The decline consumable goods, mainly personal motor in import expenditure on consumer goods, vehicles. Expenditure on food and beverages intermediate goods and investment goods declined by 11.2 percent to USD 1,427 million mainly contributed to this decline. in 2019 due to the decline in dairy products, sugar and confectionary products. Due to the Import expenditure on consumer goods, increased domestic production, expenditure which constituted for 19.8 percent of the total on rice imports significantly declined by 88.0
34 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 percent to USD 12.8 million. Sugar imports and prices of all categories of products stemming dairy imports declined by 19.4 percent and 6.1 from the drop in average international crude percent, respectively. Expenditure on seafoods oil prices in 2019. Expenditure on diamond, increased by 8.8 percent to USD 215 million in precious stones and metals declined sharply
2019. by 64.8 percent to USD 201 million in 2019 from 02 Chapter USD 573 million in 2018 with the imposition of Expenditure on non-food consumer goods customs duty of 15 percent on gold imports. declined by 25.0 percent to USD 2,530 million However, textiles and textiles articles imports in 2019 from USD 3,374 million in 2018 led by increased slightly by 1.8 percent to USD 2,909 the decline in expenditure on personal motor million in 2019, compared to USD 2,859 million vehicles and home appliances. Expenditure on in 2018 in line with the increase in exports of personal motor vehicles considerably dropped garments. Meanwhile, import expenditure on by 48.2 percent to USD 816 million in 2019 due wheat and maize declined by 7.3 percent and to the temporary suspension of motor vehicle fertilizer imports declined by 15.4 percent to imports in the latter part of 2019 coupled with USD 221 million in 2019. the increase in deposit margin requirement. However, import expenditure on medical and Expenditure on investment goods declined pharmaceutical products increased by 3.9 by 1.9 percent to USD 4,603 million in 2019, percent to USD 553 million in 2019. Meanwhile, from USD 4,690 million in 2018 driven by expenditure on clothing and accessories the contraction of import expenditure on declined by 11.3 percent to USD 275 million in machinery and equipment, building material 2019. and transport equipment. Import expenditure on machinery and equipment declined Expenditure on intermediate goods with a marginally by 0.1 percent to USD 2,490 million share of 57.0 percent to the total imports in 2019. Meanwhile, expenditure on transport expenditure, declined by 9.0 percent to USD equipment contracted by 10.7 percent to 11,370 million in 2019, compared to USD 12,488 USD 597 million in 2019 due to the decline in million in 2018 driven mainly by the decline in all categories of transport vehicles and parts. import expenditure on fuel, chemical products, Import expenditure on building materials wheat and maize despite the increased dropped by 1.0 percent to USD 1,509 million in expenditure on textile and textiles items. Fuel 2019 led by the decline in raw materials for the import bill declined by 6.3 percent to USD 3,892 construction industry. million in 2019 due to the decline in import
Table 2.14 | Value of Imports USD Million Category 2016 2017 2018 2019 (a) Consumer Goods 4,319 4,503 4,980 3,957 Food and Beverages 1,627 1,841 1,606 1,427 Sugar 343 256 248 200 Milk and Milk Products 249 316 332 312 Other Food and Beverages 787 752 1,026 915 Non-food Consumables 2,692 2,661 3,374 2,530 Vehicles 795 773 1,574 816 Home appliances-Radio and Television Sets 136 141 124 102 Rubber Products 112 94 95 83 Medical and Pharmaceutical Products 526 520 532 553 Household and Furniture Items 182 186 169 172 Other 941 948 880 805 Intermediate Goods 9,869 11,436 12,488 11,370 Fertilizer 137 103 262 221
35 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 2.14 | Value of Imports contd... USD Million Category 2016 2017 2018 2019 (a) Petroleum 2,481 3,428 4,152 3,892 Chapter 02 Chapter Chemical Products 856 834 904 832 Paper and Paper Boards 487 485 529 457 Wheat and Maize 249 357 374 346 Textile & Textile article 2,705 2,724 2,859 2,909 Diamond and Presious Metals 514 772 573 201 Base Metal 456 629 683 563 Other Intermediate Goods 1,984 2,104 2,153 1,948 Investment Goods 4,981 4,895 4,690 4,603 Machinery and Equipment 2,741 2,621 2,492 2,490 Transport Equipment 663 675 668 597 Building Material 1,569 1,591 1,525 1,509 Other Investment Goods 8 8 6 8 Unclassified Imports 13 147 75 8 Total Imports 19,182 20,980 22,233 19,937 Sources: Sri Lanka Customs,Caylon Petroleum Corporation, Lanka IOC PLC and Central Bank of Sri Lanka
Earnings from Tourism
Earnings from tourism were setback in 2019 the Middle East coupled with the subdued following the Easter Sunday attacks in April economic performance in the major remittance 2019 which have been recovered in the latter generating destinations stemming from the part of 2019 led by the expeditious policy declining trend in world crude oil prices. measures taken end November – December 2019. As such, the fiscal and financial stimulus Current and Capital Account Balance has been provided to revive the industry including the improvement of security The current account deficit narrowed to USD conditions, promotional activities, granting 1,808 million in 2019 from USD 2,799 million in VAT rate reductions and other concessions 2018 which is equivalent to 2.2 percent of GDP in while providing financial support for the sector. 2019 from 3.2 percent in 2018. The contraction Earnings from tourism declined by 17.7 percent of the current account deficit was mainly to USD 3,607 million in 2019 from USD 4,381 attributable to the significant contraction of million in 2018. Tourist arrivals also declined trade deficit. by 18 percent to 1.9 million in 2019 from 2.3 million in 2018. The recovery of the tourism Inflows to the capital account marginally sector observed from November to mid-March increased to USD 23 million in 2019 from USD reversed after the spread of COVID-19 in mid- 14 million in 2018 due to the inflows in the form March 2020. Swift actions are being taken to of capital transfers to the government and the attract more tourists to Sri Lanka in the post- private sector. COVID period while adhering health related guidelines. Overall Balance
Workers’ Remittances The overall balance recorded a surplus of USD 377 million in 2019 from a deficit of USD 1,103 Workers’ remittances declined by 4.2 percent million in 2018 with the support of the significant to USD 6,717 million in 2019 from USD 7,015 improvement in the financial account led by million in 2018. The drop in receipts was due the proceeds of the ISBs. mainly to the geopolitical uncertainty in
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Table 2.15 | Balance of Payments: 2015 – 2019 USD Million Item 2015 2016 2017 2018 (a) 2019(b) Trade Balance -8,388 -8,873 -9,619 -10,343 -7,997
Exports 10,546 10,310 11,360 11,890 11,940 02 Chapter Imports 18,935 19,183 20,980 22,233 19,937 Service (net) 2,325 2,879 3,303 3,766 2,489 Receipts 6,397 7,138 7,724 8,374 7,474 Payments 4,072 4,259 4,421 4,608 4,625 Income (net ) -2,013 -2,202 -2,319 -2,385 -2,426 Receipts 127 127 173 249 252 Payments 2,140 2,329 2,492 2,633 2,678 Goods, Services and Income (net) -8,076 -8,196 -8,636 -8,962 -7,574 Current Transfers (net) 6,193 6,454 6,327 6,163 5,766 Private Transfers(net) 6,167 6,435 6,316 6,155 5,757 Receipts (Workers' Remittances) 6,980 7,242 7,164 7,015 6,717 Payments 814 807 848 860 960 Official Transfers (net) 27 19 11 8 9 Current Account -1,883 -1,742 -2,309 -2,799 -1,808 Capital and Financial Account -1,797 -2,628 -2,112 -3,363 -2,409 Capital Account 46 25 11 14 23 Current and Capital Account -1,837 -1,717 -2,298 -2,785 -1,785 Financial Account(c) -1,843 -2,653 -2,123 -3,378 -2,432 Errors and Omissions -476 -465 175 -593 -647 Overall Balance (Balance of Payments) -1,489 -500 2,068 -1,103 377 As a percentage of GDP Trade Deficit 6.0 -10.9 -10.9 -11.7 -9.5 Current Account Deficit -2.3 -2.1 -2.6 -3.2 -2.2 Source: Central Bank of Sri Lanka (a) Revised (b) Provisional (c) Includes additional components in the financial account based on BPM 6 new classification from 2012 onwards
2.4 Monetary Sector Developments temporary caps on deposit rates of licensed banks and non-financial institutions were By the reduction of policy interest rates and imposed in April 2019. These measures helped several other measures, the Central Bank ease the monetary conditions and market adopted an accommodative monetary policy interest rates, in particular, market deposit stance in 2019. On February 22, 2019, the rates. Central Bank lowered the Statutory Reserve Ratio (SRR) applicable on all rupee deposit The Central Bank further accelerated its liabilities of licensed commercial banks by accommodative monetary policy position with 1.00 percentage point to 5.00 percent from a reduction of the SDFR and the SLFR by 50 6.00 percent effective from March 2019 to basis points to 7.00 percent and 8.00 percent, improve domestic money market liquidity respectively in August 2019. To reduce lending thereby turning market liquidity into surplus rates, the Central Bank imposed temporary levels. Subsequently, policy interest rates, that caps on lending rates in September 2019 while is, the Standing Deposit Facility rate (SDFR) removing deposit rate caps by licensed banks. and the Standing Lending Facility Rate (SLFR) The SDFR and the SLFR further reduced by 50 reduced by 50 basis points to 7.50 percent basis points to 6.50 percent and 7.50 percent, and 8.50 percent, respectively in May 2019 to respectively in January 2020. To support the lower market lending rates, thereby improving economic activities with the spread of COVID-19 credit flows to the private sector. In addition, which has erupted in March, SDFR and SLFR considering the high market interest rates, reduced by 25 basis points to 6.25 percent
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and 7.25 percent, respectively with effect from in 2018 while credit to public corporations and March 17, 2020 and SDFR and SLFR further new credit to the government increased by 8.3 reduced by 25 basis points to 6.00 percent and percent to Rs. 818 billion and 9.9 percent to Rs. 7.00 percent, respectively effective from April 2,767 billion, respectively in 2019.
Chapter 02 Chapter 03, 2020. Meanwhile, SRR on all rupee liabilities of licensed commercial banks reduced by 1.00 Figure 2.11 | Reserve Money and Private Sector Credit percentage point to 4.00 percent with effect Growth from March 16, 2020. Further, SDFR and SLFR reduced by 50 basis points to 5.50 percent 1,200 30 and 6.50 percent, respectively, effective from 1,000 25 May 06, 2020 to cushion the adverse economic 800 20 impact caused by the COVID-19. So far in 2020, 600 15 the policy interest rates have been reduced by % 150 basis points. Bn. Rs. 400 10 200 5 The Average Weighted Call Money Rate - 0 (AWCMR) was 9.0 percent at the beginning 2015 2016 2017 2018 2019 of 2019 and it declined to 7.50 percent by Reserve Money Credit to Private Sector the end of 2019. The Average Weighted Prime Source: Central Bank of Sri Lanka Lending Rate (AWPLR) closed to 12.0 percent at the beginning of 2019 and it declined to Figure 2.12 | Private Sector Credit Growth and 10.0 percent at the end of 2019. The Treasury Trade Deficit Bill yield rates on 91-day, 182-day and 364-day increased to 7.51 percent, 8.02 percent and 40 1200
8.45 percent, respectively. Average Weighted 1000 30 Lending Rate (AWLR) declined to 13.65 percent 800 at end 2019 whereas Average Weighted 20
Deposit Rate (AWDR) declined to 8.20 percent % 600
10 US$ mn. at end 2019. 400
0 200 The outstanding amount of reserve money declined by 3.0 percent to Rs. 933 billion at -10 0 Jul Jul Sep Nov Mar Sep May Nov Mar end 2019. Broad Money (M2b) increased to 7.0 May 2018 Jan 2019 Jan percent to Rs. 7,624 billion at end 2019 from 13.0 2020 Jan percent by end 2018. Meanwhile, credit to the Trade DeĮcit (RHS Axis) Growth in Private Sector Credit (LHS Axis) private sector increased by 4.3 percent to Rs. 5,798 billion in 2019, compared to 15.9 percent Source: Central Bank of Sri Lanka
Table 2.16 | Outstanding Loans and Advances Granted by Commercial Banks (a)(b) Rs. Billion 2019/2018 2018 2019 (c) % Change 1. Agriculture and Fishing 470.0 471.1 0.2 o/w Tea 100.0 95.8 -4.2 Rubber 34.4 25.9 -24.7 Coconut 24.5 24.7 0.8 Paddy 35.7 38.0 6.4 Vegetable, Fruits and Minor Food Crops 37.9 30.8 -18.7 Livestock and Dairy Farming 24.5 26.2 6.9 Fisheries 20.1 21.5 7.0 2. Industry 2,354.4 2,427.0 3.1 o/w Construction 1,133.8 1,197.6 5.6 Food and Beverages 124.6 130.8 5.0 Textiles and Apparel 201.6 214.6 6.4
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Table 2.16 | Outstanding Loans and Advances Granted by Commercial Banks (a)(b) contd... Rs. Billion 2019/2018 2018 2019 (c) % Change Chemical, Petroleum, Pharmaceutical, and Healthcare, and Rubber and Plastic 121.9 119.8 -1.7
Products 02 Chapter Basic Metal Products 36.6 42.6 16.4 Machinery and Transport Equipment 202.7 192.3 -5.1 3. Services 1,641.4 1,692.8 3.1 o/w Wholesale and Retail Trade 486.7 502.4 3.2 Tourism 198.3 235.1 18.5 Financial and Business Services 396.3 370.6 -6.5 Transport 88.8 89.4 0.7 Communication and Information Technology 59.0 61.8 4.8 4. Personal Loans and Advances (d) 1,267.4 1,418.5 11.9 o/w Consumer Durables 228.4 239.1 4.7 Pawning 171.7 211.0 22.9 Credit Cards 106.6 131.0 22.9 Other (e) 709.4 773.8 9.1 Total 5,733.1 6,009.4 4.8 Source: Central Bank of Sri Lanka (a) Based on the Quarterly Survey of Commercial Banks’ Loans and Advances to the Private Sector, which includes loans and advances of both DBUs and OBUs of commercial banks. (b) Includes loans, overdrafts, bills discounted and purchased and excludes cash items in the process of collection (c ) Provisional (d) Excludes personal housing loans, which have been included under ‘Construction’ classified under ‘Industry’ (e) Includes Safety Net Scheme related loans from September 2015
2.5 Inflation Headline inflation as measured by year-on-year change in the NCPI demonstrated an increased Inflation, as measured by the change in the trend reaching to 6.2 percent in December Colombo Consumers’ Price Index (CCPI, 2019 and increased to 7.0 percent in March 2013=100) and the National Consumer Price 2020. The CCPI also recorded an increasing Index (NCPI, 2013=100) on the basis of both trend in the latter part of 2019 commencing annual average and year-on-year basis from September 2019 with fluctuations and remained a mid-single-digit levels during 2019 reached to 4.8 percent in December 2019. The and January-April 2020. The CCPI, year-on-year CCPI declined to 5.2 percent in April 2020 from basis, continued to increase in September 2019 6.2 in February in 2020 with the supply-side and reached its highest level of 6.2 percent in improvements, in particular, food items. February 2020 due to the sharp increase in food prices stemming from the supply side shocks Figure 2.13 | Headline Inflation, Food Inflation & amidst the positive impact on the reduction Non-Food Inflation of VAT rate by 7 percent, the removal of NBT 16 and rate reduction of Telecommunication Levy. 14 12 The prices of non-food category also increased 10 during 2019. A notable upward pressure on the 8
% 6 price levels witnessed from the beginning of 4 2 September 2019 to February 2020. However, 0 inflation dropped to 5.2 percent in April 2020 -2 -4 due to the improved supply of food items in Jul-18 Jul-19 Jan-18 Jan-19 Jan-20 Oct-18 Oct-19 Apr-18 Apr-19 the basket. Apr-20
Headline InŇaƟon Food InŇaƟon Non-Food InŇaƟon Inflation measured by both the CCPI and NCPI Source: Department of Census and Statistics demonstrated three episodes of the declining trend in June-July and November a year-on- The core inflation, which depicts underlying year basis while the rest of period, that is, nine inflation in the economy, a year-on-year CCPI months in 2019, inflation exhibited an increasing basis, recorded an increasing trend from 5.5 trend.
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percent in January 2019 and moved to its increased to 7.4 percent in 2019. However, peak in May 2019 recording 6.2 percent and labour statistics show that male unemployment decelerated to 4.8 percent in December 2019. has declined to 3.2 percent in the fourth The increasing trend exhibited from January quarter of 2019 from 3.4 percent of the first
Chapter 02 Chapter to October 2019 reversed in November 2019 quarter of 2019. The unemployment rate among due to the tax stimulus announced by the New the population with G.C.E (A.L) and above Government. Benefiting from rates reduction category recorded the highest unemployment of VAT and Telecommunication Levy coupled rate of 8.5 percent while unemployment among with the removal of NBT, core inflation declined G.C.E. (O/L) category increased to 6.5 percent to 5.1 percent in November from 5.5 percent in 2019 from 5.2 percent in 2018. Meanwhile, in October 2019. The core inflation further unemployment among youth category aged decelerated to 3.0 percent in January 2020 15–24, which represents 49 percent of the total reached to 2.9 percent in March 2020. Due to unemployed in the country increased to 21.5 the supply and demand side effects stemming percent in 2019. Other age categories such from the impact of COVID-19, it slightly as age group of 25–29 and 30–39 recorded increased to 3.1 percent in April 2020. unemployment rate of 11.0 percent and 3.1 percent, respectively in 2019. 2.6 Employment and Unemployment 2.7 Equity Market Developments The employed population increased by 2.1 percent to 8.2 million in 2019 from 8.0 million The equity market showed a sluggish in 2018. The highest employed population performance in the latter part of 2018 and of 3.8 million were engaged in the services continued until the end of 2019 due to sector while 2.2 million and 2.0 million were subdued domestic economic activities, loss employed in the industry and agriculture of investor confidence coupled with security sector. Meanwhile, departure for foreign concerns raised by the Easter Sunday attacks employment demonstrated a declining trend and the political instability. Consequently, All and the employment in this category declined Share Price Index (ASPI) marginally grew by by 3.9 percent to 203,186 in 2019 from 211,459 1.3 percent to 6,129.2 points while the S&P in 2018 of which male departures constituted Sri Lanka 20 index declined by 6.3 percent in 60.1 percent. Housemaid and unskilled 2019. However, after the presidential election category which shared more than half of the in November 2019, the performance of market total foreign employed population declined activities rebounded with increased investor by 3.3 percent in 2019. However, departures of confidence. professional category significantly increased by 36.7 percent to 9,860 persons in 2019. In 2019, S&P SL 20 index, which is the most liquid stocks, declined by 6.3 percent to 2,937.0 points The overall labour force participation rate in 2019 from to 3,135.2 points at end 2018. The increased marginally to 52.3 percent in 2019 market capitalization increased marginally by from 51.8 percent in 2018 due to the increase 0.4 percent to 2,851.3 billion in 2019. Meanwhile, in female labour force participation rate. average daily turnover dropped to Rs. 711.2 However, female labour force participation in million in 2019 from Rs. 833.6 million in 2018. 2019 was 34.5 percent well below the male Foreign outflows continued to increase despite labour force participation rate of 73.0 percent some improvements as reflected in the decline in 2019. in foreign investor contribution to total market turnover by 36.4 percent in 2019 together with The unemployment rate increased to 4.8 the drop in foreign sales significantly declined percent in 2019, compared to 4.4 percent by 31.9 percent to Rs. 68,272 million vis-à-vis recorded in 2018 due to the increase in the decline in foreign purchases by 26.6 percent to unemployed population by 38,000 stemming Rs. 56,537 million in 2019. Although indicators mainly from the surge in unemployed male of equity market exhibited some improvements population by 13.0 percent. Male unemployment after the presidential election, the outbreak of increased by 0.3 percentage points to 3.3 COVID-19 has adversely impacted the equity percent while the female unemployment rate market in 2020.
40 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 2.17 | Movements in the Capital Market Indicators 2011 2012 2013 2014 2015 2016 2017 2018 2019 All Share Price Index (1985=100) 6,074 5,643 5,913 7,299 6,895 6,228 6,369 6,052 6,129 S&P SL 20 Index – 3,085 3,264 4,089 3,626 3,496 3,672 3,135 2,937
Market Capitalization (Rs. Bn.) 2,214 2,168 2,460 3,105 2,938 2,745 2,899 2,840 2,851 02 Chapter No. of Listed Companies in Trading 272 287 289 294 294 295 296 297 289 Annual Average Turnover (Rs.Bn.) 546 214 200 341 253 176 221 200 171 Foreign Sales (Rs. Mn.) 68,854 33,972 60,873 83,554 89,793 74,275 94,627 100,315 68,272 Foreign Purchases (Rs. Mn) 49,875 72,653 83,657 104,771 84,421 74,625 112,285 77,067 56,537 Sources: Colombo Stock Exchange and Central Bank of Sri Lanka *Discontinued in the beginning of 2013
2.8 Global Economic Environment and Prospects 1
The world economy is expected to achieve financial markets, tourism and supply chain 2.5 percent growth in 2020, according to the due to the strong interconnection between Global Outlook of the World Bank issued in economies. However, the COVID-19 pandemic January 2020. However, the growth prospects is spreading quickly throughout the world were faded away with the eruption of COVID-19 increasing death tolls in the USA, Spain, Italy, outbreak to almost all countries in the world Russia, India and other continents. Due to the which have propelled to lower the projection to outbreak of COVID-19, the world economy 2.4 percent in 2020 from 2.9 percent registered is expected to contract significantly by 3.0 in 2019 reflecting the disturbances of the global percent in 2020, much worse than during the supply chain, travel and commodity markets, in crisis in 1930. It is projected that the world particular, epidemic peaks in China, as per the economy will grow by 5.8 percent in 2021 March report of the Organization for Economic aftermath of the COVID-19 with the expectation Co-operation and Development (OECD). of normalization of the economic activities. Growth projections remain uncertain due to the adverse effects on investor confidence,
Table 2.18 | World and Regional Output Annual percent change Actual Forecast 2018 2019 2020 2021 World Output 3.6 2.9 -3.0 5.8 Advanced Economies 2.2 1.7 -6.1 4.5 United States 2.9 2.3 -5.9 4.7 Euro Area 1.9 1.2 -7.5 4.7 Germany 1.5 0.6 -7.0 5.2 France 1.7 1.3 -7.2 4.5 Italy 0.8 0.3 -9.1 4.8 Spain 2.4 2.0 -8.0 4.3 Japan 0.3 0.7 -5.2 3.0 United Kingdom 1.3 1.4 -6.5 4.0 Canada 2.0 1.6 -6.2 4.2 Emerging Market and Developing Economies 4.5 3.7 -1.0 6.6 Emerging and Developing Asia 6.3 5.5 1.0 8.5 China 6.7 6.1 1.2 9.2 India 6.1 4.2 1.9 7.4
1 This section is mainly based on the various reports and articles published by the World Bank, the IMF, United Nations and Bloomberg such as World Economic Outlook, Fiscal Monitor, Global Economic Prospects, World Economic Situation and Prospects, Commodity Market Outlook and other published articles.
41 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 2.18 | World and Regional Output contd... Annual percent change Actual Forecast 2018 2019 2020 2021
Chapter 02 Chapter Indonesia 5.3 4.8 -0.6 7.8 Malaysia 5.3 4.8 -0.6 7.8 Vietnam 5.3 4.8 -0.6 7.8 Thailand 5.3 4.8 -0.6 7.8 Latin America and the Caribbean 1.1 0.1 -5.2 3.4 Brazil 1.3 1.1 -5.3 2.9 Emerging & Developing Europe 3.2 2.1 -5.2 4.2 Russia 2.5 1.3 -5.5 3.5 Middle East, North Africa, Afghanistan & Pakistan 1.8 1.2 -2.8 4.0 Sub-Saharan Africa 3.3 3.1 -1.6 4.1 South Africa 0.8 0.2 -5.8 4.0 Sri Lanka 3.3 2.3 1.5 4.5 Sources: World Economic Outlook, IMF, April 2020 Annual Report 2019, Central Bank of Sri Lanka
The world economy was completely lockdown consumers, individuals and entrepreneurs due mainly to the heightened uncertainty, until the gradual normalization begins. Many mitigation efforts to curb the pandemic, advanced economies including the USA, the supply disturbances, rigid financial market, United Kingdom. Australia, France, Italy and changes in expenditure patterns, volatile Japan have announced large fiscal stimulus commodity markets such as fuel and base packages to revive and maintain the economic metal and changes in confidence while sinking activities. Fiscal support measures have been labour supply. Most of the economies are announced by Indonesia and South Africa to encountered with multifaceted issues covering support affected workers. On the other hand, health impact, domestic and external shocks, countries require external finance to overcome capital outflows and the fall of commodity the financial burden in terms of debt servicing prices. Various policies are tested to save lives and other financial needs. In line with fiscal in a short-term as well as long-term to mitigate stimulus, central banks also provide monetary the impact across the globe. Many economies stimulus and liquidity facilities which will help have implemented fiscal and financial stimulus to regain confidence. and monetary policy measures to support
Table 2.19 | A Snapshot of the World – 2019 2019 GDP Growth (Annual Unemployment Fiscal Balance Gross Debt Country Inflation (Percent) percent change) (Percent) (Percent of GDP) (Percent of GDP) Argentina -2.2 53.5 9.8 -3.9 88.7 Australia 1.8 1.6 5.2 -3.7 45.0 Brazil 1.1 3.7 11.9 -6.0 89.5 Canada 1.6 1.9 5.7 -0.4 88.6 Chile 1.1 2.3 7.3 -2.6 27.9 China 6.1 2.9 3.6 -6.4 54.4 France 1.3 1.3 8.5 -3.0 98.5 Germany 0.6 1.3 3.2 1.4 59.8 Greece 1.9 0.5 17.3 0.4 179.2 India 4.2 4.5 …. -7.4 71.9 Indonesia 5.0 2.8 5.3 -2.2 30.4 Italy 0.3 0.6 10 -1.6 134.8 Japan 0.7 0.5 2.4 -2.8 237.4 Korea 2.0 0.4 3.8 -1.8 40.7 Malaysia 4.3 0.7 3.3 -3.2 57.2 Mexico -0.1 3.6 3.3 -2.3 53.4
42 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 2.19 | A Snapshot of the World – 2019 contd... 2019 GDP Growth (Annual Unemployment Fiscal Balance Gross Debt Country Inflation (Percent) percent change) (Percent) (Percent of GDP) (Percent of GDP) Russia 1.3 4.5 4.6 1.9 14.0 Chapter 02 Chapter Singapore 0.7 0.6 2.3 -3.5 111.8 South Africa 0.2 4.1 -3.0 -6.3 62.2 Spain 2.0 7.0 14.1 -9.5 95.5 Sri Lanka 2.3 4.3 4.8 -6.8 86.8 Thailand 2.4 6.9 1.1 -0.8 41.1 United Kingdom 1.4 1.8 3.8 -2.1 85.4 United States 2.3 1.8 3.7 -5.8 109 Vietnam 7 2.8 2.2 -3.3 42.9 Venezuela -35 19,906 …. -10 232.8 Sources: "World Economic Outlook", IMF, April 2020 Fiscal Monitor, IMF, April 2020 Annual Report 2019, Central Bank of Sri Lanka … Negligible
China demonstrated its economic impact in plunged by about 65 percent and base metal the areas of declining industrial production, prices dropped about 15 percent reflecting investment and low demand for services in the weaker demand for such commodities. first quarter of 2020 and also other economies Financial conditions have been tightened. have been entailed economic slowdown due to Central banks in advanced countries have the measures taken to mitigate the outbreak. been forced to reduced interest prompt rates, Commodity prices have plummeted. During injection of liquidity in to the market to offset the first quarter of 2020, crude oil prices the tightening in financial conditions.
Table 2.20 | General Government Gross Debt Percent of GDP Actual Forecast 2018 2019 2020 2021 World 81.5 83.3 96.4 93.2 Advanced Economies 103.9 105.2 122.4 121.9 United States 106.9 109.0 131.1 131.9 Euro Area 85.9 84.1 97.4 95.6 Germany 61.9 59.8 68.7 65.6 France 98.4 98.5 115.4 116.4 Italy 134.8 134.8 155.5 150.4 Spain 97.6 95.5 113.4 114.6 Greece 184.8 179.2 200.8 194.8 Ireland 63.6 58.6 63.3 60.0 Japan 236.5 237.4 251.9 247.6 United Kingdom 85.7 85.4 95.7 95.8 Canada 89.7 88.6 109.5 108.6 Emerging Market and Middle-Income Economies 49.7 53.2 62.0 64.6 Asia 50.9 55.1 64.1 68.0 China 49.1 54.4 64.9 70.1 India 69.4 71.9 74.3 73.8 Europe 29.4 29.2 36.5 36.3 Russia 13.6 14.0 17.9 17.1 Latin America 66.6 70.5 78.0 76.2 Brazil 87.1 89.5 98.2 98.2 Mexico 53.7 53.4 61.4 59.0 Middle East and North Africa (MENA) 38.8 41.9 51.2 52.8 South Africa 56.7 62.2 77.4 85.6 Low-income Developing Countries 42.6 43.0 47.4 47.7 Sri Lanka 83.7 86.8 92.4 89.4 Sources: Fiscal Monitor, IMF, April 2020 Annual Report 2019, Central Bank of Sri Lanka
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Figure 2.14 | Monthly Movement of Six Months LIBOR Figure 2.16 | Crude Oil Prices: 2015 – Apr 2020
90
3.50% 80
3.00%
Chapter 02 Chapter 70 2.50% 60 2.00%
Percent 1.50% 50
1.00%
USD/bbl 40 0.50%
0.00% 30 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 20 May-10 May-11 May-12 May-13 May-14 May-15 May-16 May-17 May-18 May-19
10
Source: Data available at www.macrotrends.net 0 2015 Jul 2017 Jul 2016 Jul 2017Apr 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2015 Oct 2016 Oct 2017 Oct 2018 Oct 2019 Oct 2015 Apr 2016 Apr 2018 Apr 2018 July | 2019 July Figure 2.15 Exchange Rates Against USD : 2007 – April 2019 April 2020 Crude oil, average Brent Dubai WTI Source: World Bank, Development Prospect Group
0.95 120 0.90 Growth in the advanced economies such as the
0.85 110 USA (–5.9 percent), Japan (–5.2 percent) and 0.80 the United Kingdom (–6.5 percent) is expected 0.75 100 a contraction in 2020. Emerging market and 0.70 developing economies are anticipated to 90 USD/Yen 0.65 contract to 1.0 percent in 2020 while Emerging USD & Pound/ Euro 0.60 80 Asia is expected to grow by 1.0 percent.
0.55 70 0.50
0.45 60 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Jan - April Jan
USD/Euro USD/Pound USD/Yen
Source: Data available at x.rates.com
Table 2.21 | Overall Fiscal Balance Percent of GDP Actual Forecast 2018 2019 2020 2021 World -3.1 -3.7 -9.9 -5.9 Advanced Economies -2.6 -3.0 -10.7 -5.5 United States -5.7 -5.8 -15.4 -8.6 Euro Area -0.5 -0.7 -7.5 -3.6 Germany 1.9 1.4 -5.5 -1.2 France -2.3 -3.0 -9.2 -6.2 Italy -2.2 -1.6 -8.3 -3.5 Spain -2.5 -2.6 -9.5 -6.7 Greece 0.9 0.4 -9.0 -7.9 Ireland 0.1 0.3 -5.2 -0.8 Portugal -0.4 0.2 -7.1 -1.9 Japan -2.4 -2.8 -7.1 -2.1 United Kingdom -2.2 -2.1 -8.3 -5.5 Emerging Market and Middle Income Economies -3.8 -4.8 -9.1 -7.4 Asia -4.5 -6.0 -9.9 -8.6 China -4.7 -6.4 -11.2 -9.6 India -6.3 -7.4 -7.4 -7.3 Indonesia -1.8 -2.2 -5.0 -4.0
44 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 2.21 | Overall Fiscal Balance contd... Percent of GDP Actual Forecast 2018 2019 2020 2021
Malaysia -3.3 -3.2 -4.2 -3.6 02 Chapter Vietnam -3.5 -3.3 -5.2 -4.1 Thailand 0.1 -0.8 -3.4 -1.7 Europe 0.4 -0.7 -6.1 -4.2 Russia 2.9 1.9 -4.8 -3.0 Latin America -5.2 -4.0 -6.7 -4.0 Brazil -7.2 -6.0 -9.3 -6.1 Middle East and North Africa and Pakistan -2.9 -3.8 -9.8 -7.7 South Africa -4.1 -6.3 -13.3 -12.7 Low-Income Developing Countries -3.8 -4.1 -5.7 -4.9 Oil Producers -3.9 -4.3 -6.1 -5.3 Sri Lanka -5.3 -6.8 -7.9 -6.0 Sources: Fiscal Monitor, IMF, April 2020 Annual Report 2019, Central Bank of Sri Lanka The world economic growth declined by 0.7 percent in 2019 from 4.5 percent in 2018 with percentage points to 2.9 percent in 2019 from a moderate growth in China, India and Russia. 3.6 percent in 2018, according to the World Reflecting the plunge in petroleum prices, all Economic Outlook April 2020 release. Growth commodity prices declined in 2019. Inflation in advanced economies was 1.7 percent in 2019, in advanced countries declined to 1.4 percent compared to 2.2 percent in 2018. Growth in in 2019 while that of emerging and developing emerging markets and developing economies economies increased to 5.0 percent in 2019. registered a subdued performance of 3.7
45 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 02 Chapter
46 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 03 Chapter
PART II Final Budget Position
47 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 03 Chapter
48 03 Government Revenue MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
3.1 Overview direct taxes, in particular, the corporate tax increased with the implementation of New The steady decline in the economic activities Inland Revenue Act. The government revenue in the last 3 years seemed to not to have had declined by 0.8 percentage points to 12.6 the desired impact of revenue consolidation percent of GDP in 2019 from 13.4 percent of efforts implemented since 2017, through the GDP in 2018. This decline was mainly due to the increase in taxes, expansion of tax bases and drop in revenue from imports based taxes by other administrative measures, given the 0.9 percentage points to 4.7 percent of GDP steady drop in revenue experienced since, and 0.4 percentage points of non-tax revenue 2017 which has continued into 2019 as well. In stemming from the drop in profits transfers from Chapter 03 Chapter fact the actual revenue recorded of Rs.1,890.9 State Owned Business Enterprises (SOBEs), billion in 2019 is almost Rs. 453 billion or 19.3 non-availability of Central Banks profit transfers percent less than the estimated for 2019. The in 2019 and the decline in revenue collection Easter Sunday attacks of April 2019, further from fees and charges. In nominal terms, the exacerbated the situation which resulted in the total revenue declined by 1.5 percent to Rs. import shrinkage and slowdown of economic 1,890.9 billion in 2019 from Rs. 1,920.0 billion in activities. It was in this background that in the 2018. early part of 2019, the government in a bid to enhance its revenue collections, increased Excise duty rates on motor vehicles, cigarettes The actual government revenue of Rs. and liquor and Customs Duty rates on selected 1,890.9 billion in 2019 was around one-fifth items and SCL rates on several commodities. or Rs. 453.1 billion aberrations of the annual Several taxes were introduced or revised such estimated revenue of Rs. 2,344.0 billion. The as carbon tax, luxury tax on motor vehicles and aberration was mainly due to the low revenue embarkation levy in addition to the revision of mobilization from several taxes and the delay non-tax revenue such as fees and charges. in implementing certain revenue measures announced in the Budget 2019. The actual tax However, revenue collected from taxes on revenue of Rs. 1,734.9 billion was a 16 percent goods and services such as Value Added (Rs. 342.1 billion) below the estimated tax Tax (VAT), Excise duty on motor vehicles and revenue of Rs. 2,077.0 billion while non-tax petroleum products and telecommunication revenue of Rs. 156.0 billion was a 42 percent levy and non-tax revenue significantly declined (Rs. 111.0 billion) deviation from the estimated in 2019. At the same time, revenue sourced at non-tax of Rs. 267.0 billion. Table 3.1 | Summary of Government Revenue Rs. Million 2019 Item 2016 2017 2018 (Provisional) Total Revenue and Grants 1,693,557 1,839,562 1,932,459 1,898,808 Total Revenue 1,686,061 1,831,531 1,919,974 1,890,899 Tax Revenue 1,463,689 1,670,178 1,712,318 1,734,925 Income Tax 258,857 274,562 310,449 427,700 Taxes on Goods and Services 841,967 1,025,799 1,061,751 975,557 Taxes on External Trade 362,865 369,817 340,117 331,668 Non-Tax Revenue 222,372 161,353 207,656 155,974 Grants 7,496 8,031 12,485 7,909 As a % of GDP Total Revenue and Grants 14.1 13.8 13.5 12.6 Total Revenue 14.1 13.7 13.4 12.6 Tax Revenue 12.2 12.5 11.9 11.6 Non-Tax Revenue 1.9 1.2 1.4 1.0 Grants 0.1 0.1 0.1 0.1 Source: Department of Fiscal Policy
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Table 3.2 | Estimated and Actual Revenue – 2019 Rs. Million Item Estimated Actual Deviation Total Revenue 2,344,000 1,890,899 -453,101 Tax Revenue 2,077,000 1,734,925 -342,075 Department of Inland Revenue 799,129 784,642 -14,487 Tax on Income and Profit 377,000 426,038 49,038 VAT – Domestic (Net) 324,000 273,963 -50,037 Nation Building Tax (Domestic) 65,000 52,446 -12,554 Other 33,129 32,195 -934 03 Chapter Department of Sri Lanka Customs 1,098,240 807,233 -291,007 Import Duty 140,000 98,427 -41,573 VAT – Imports (Net) 205,000 169,914 -35,086 Nation Building Tax (Import) 26,000 18,227 -7,773 PAL 115,000 112,174 -2,826 CESS Levy 54,000 50,703 -3,297 ESC 8,000 1,662 -6,338 Special Commodity Levy & Other 92,240 72,033 -20,207 Excise (Special Provisions) Duty 458,000 284,093 -173,907 Cigarettes 115,000 87,367 -27,633 Petroleum 90,000 61,740 -28,260 Motor Vehicles & other 253,000 134,986 -118,014 Department of Excise 135,045 115,417 -19,628 Liquor/Tobacco 135,045 115,417 -19,628 Other 44,586 27,633 -16,953 Telecommunication Levy 25,000 18,261 -6,739 License Tax & Other 19,586 9,372 -10,214 Non – Tax Revenue 267,000 155,974 -111,026 Source: Department of Fiscal Policy
The government earmarked a first wave of consumption will spur the weakened economy fiscal stimulus package following the Easter thus augmenting revenue mobilization over Sunday Attacks in April 2019 to revive the the medium term. The highlights of the tourism sector with the reduction of VAT rate measures include the removal of taxes such as from 15 percent to 7 percent on hotels and tour Nation Building Tax (NBT), Economic Service operators while granting tax exemptions for the Charge (ESC) and Debt Repayment Levy import of security-related equipments. After (DRL), reduction of applicable tax rates such the Presidential election in November 2019, the as Value Added Tax (VAT) from 15 percent to new government introduced a second wave of 8 percent excluding financial services and fiscal stimulus package aiming at revitalizing Telecommunication Levy from 15 percent to persistent subdued economic activities of 11.25 percent, rationalization of corporate tax the country by energizing entrepreneurs, structure while expanding tax-free threshold consumers, working community, taxpayers for income taxes, reflecting the government’s and the general public through the simple commitment on tax reforms. Besides, three- and transparent people-friendly tax system as tier corporate tax structure was revised into announced in the new government’s Manifesto four-tier structure, particularly to boost the of ‘Vista of Prosperity and Splendour’. The construction and manufacturing sector while simplification and tax concessions provided granting concessionary tax rates. to the sectors, in particular investment and
51 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
3.2 Revenue Policy Measures – 2019 Figure 3.1 | Government Revenue 1,920 1,891 In 2019, key measures taken to augment the 1,832 government revenue are detailed in Box 3.1. The 1,686 composite VAT rate was upwardly revised on 1,455 1,195 locally sale BOI garments to Rs. 100 per piece 1,137 1,047
from Rs. 75 per piece as a revenue-enhancing 934.8 measure. The VAT rate on supply of service for the sale of condominium housing units reduced from 15 percent to 6 percent as a relief which Chapter 03 Chapter was subsequently exempted from December 01, 2019. Excise duty on motor vehicles of an engine capacity less than 2,000 cm3 increased to curtail the surge in importation of motor Source: Department of Fiscal Policy vehicles. The excise duty (Special Provisions) on cigarettes and beverages increased to Although Carbon tax on motor vehicles on the discourage the consumption of such products. basis of fuel type and usage period introduced In the same vein, the excise duty on all in 2019 effective from March 06, 2019, it was categories of liquor increased. removed effective from December 01, 2019. Luxury Tax on Motor Vehicles (LTMV) on the Several revenue measures have been taken basis of tax free thresholds and cylinder about border taxes. The unit rate of the Customs capacity introduced in March and it was Import Duty (CID) increased by 10 percent on revised in November 01, 2019, charging the the importation of 261 items including selected tax in excess of prescribed tax-free thresholds meat and dairy products, tobacco products, irrespective of the engine capacity with a view chemicals, metal products and machineries etc. of enhancing revenue collection. CID on the importation of undenatured ethyl alcohol increased to Rs. 1,000 per litre from Fees and charges were revised to enhance Rs. 200 per litre. Also, Customs Duty waiver revenue collection. As such, all categories of on the importation of petroleum products was passport processing fees, including normal periodically adjusted to stabilize domestic processing fees, urgent processing fees and prices in line with international prices. Special alteration fees were revised upwardly. Commodity Levy (SCL) on the importation of black gram, potatoes, dates, oranges, apples 3.3 Tax Policy Reforms – 2019/2020 and palm oil was revised upwards whereas the importation of fish reduced to Rs. 25 per kg The new government declared a series of from Rs. 100 per kg. tax policy measures aiming at revitalizing the weakened economy from the current Commodity Export Subsidy Scheme (CESS) economic slowdown in the flagging global levy on beedi leaves, the single largest revenue economy, in particular, stemming from Easter contributor to the CESS revenue, was upwardly Sunday attacks and policy uncertainty arisen revised to Rs. 3,500 per kg from 2,500 per from various factors during the last few years kg. Meanwhile, CESS Levy on the importation while enabling conducive environment to of 25 items was removed. Exemptions and regain business confidence and stimulating concessionary rates were granted under Ports the economy to speed recovery. The stimulus and Airports Development Levy (PAL) for the package is a much-awaited transformation importation of selected items, particularly to increase the aggregate demand through a machineries and equipment. Selected sectors simple, transparent and targeted tax system such as particularly importation of rough stones with the reduction/offsetting certain taxes by the lapidary sector have been exempted while enhancing the self-compliance and IT from NBT. infused tax administration.
Several income tax policy measures have been implemented with a view of easing the tax
52 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 burden on individuals and corporate businesses. zero-rated. If the local inputs exceed 60 percent Accordingly, Economic Service Charge (ESC) annual VAT registration threshold expanded to and Debt Repayment Levy (DRL) removed Rs. 300 million per annum from Rs. 12 million effective from January 01, 2020 and the Nation per annum to provide relief for SMEs, while Building Tax (NBT) removed from December 01, giving opportunity for voluntary registration 2019, to simplify the tax system. The personal for the persons who wish to continue the VAT income tax-free allowance increased to Rs. 3 registration. Meanwhile, Telecommunication million per annum from Rs. 500,000 per annum. Levy reduced to 11.25 percent from 15 percent The tax slab has broadened to Rs. 3 million with effect from December 01, 2019. per annum from Rs. 600,000 per annum while revising the progressive tax rate to 6 percent, Upward adjustments were made to excise 03 Chapter 12 percent with a maximum of 18 percent. The duty on all categories of liquor and cigarettes tax free limit of terminal benefits paid from the effective from December, 2019 to recoup the approved funds increased from Rs. 2 million to potential revenue loss of VAT reduction and the Rs. 10 million and the tax rate applicable on the removal of NBT applicable on such items while balance amount is revised on first Rs. 10 million maintaining the retail prices intact. The impact to 6 percent and the balance to 12 percent. The of the removal of NBT from import activities Corporate Income Tax (CIT) rate structure also has been adjusted with the upward revision revised reducing the standard CIT rate from of standard PAL rate to 10.0 percent from 7.5 28 percent to 24 percent. The concessionary percent. However, three-tier concessionary rate of 14 percent applicable on the income rates of 2.5, 5.0 and 7.5 percent were granted from export of goods, tourism, education, to relief the imports of raw materials, crude healthcare, construction and agro-processing petroleum oil and fuels, intermediate goods as and 18 percent applicable on income from well as investment goods. To safeguard local manufacturing. The high tax rate of 40 percent cement manufacturers from stiff competition, continued to be applied on the liquor, tobacco, PAL on cement clinker reduced to 7.5 betting and gaming. The profits and income percent from 10.0 percent with effect from earned from export of services, interest on February 25, 2020. Furthermore, donations of NRFC and RFC accounts, profits and income protective gears to the Ministry of Healthcare from IT and enabling services, profits and and Indigenous Medical Services have been income from the farming including agriculture, exempted from PAL effective from April 16, 2020 fish and livestock farming, interest paid on as a support to the fight against the outbreak loans obtained from any persons outside Sri of COVID-19. Meanwhile, the supply of personal Lanka, interest income on Sovereign Bonds, protective equipment and similar products by dividends paid to any non-resident person, BOI enterprises to the Ministry of Healthcare dividends distributed by Commercial hub and Indigenous Medical Services, Department Enterprises, or by any resident company from of Health Services, Tri Forces, etc are exempted another dividend received by that company from all taxes including Customs Duty, VAT, and grants and donations received by religious PAL and CESS while ensuring the availability of institutions are among the broad income tax those equipment and similar products effective exemptions that were introduced. from April 29, 2020.
Value Added Tax (VAT) policies have been Meanwhile, SCL was introduced on the introduced with the view of lowering the cost importation of wheat flour with effect from of living and benefiting the Small and Medium December 14, 2019 in place of CID and PAL. SCL Enterprises (SMEs). The reduction of the VAT rate on the importation of fish increased to Rs. 150 to 8 percent from 15 percent while continuing per kg from Rs. 25 per kg effective from March the VAT rate on the supply of financial services 04, 2020. CESS Levy of Rs. 15 per kg on the at 15 percent, effective from December 01, importation of wheat flour was removed with 2019 helped the revival of business confidence effect from January 14, 2020. Considering the and increase the consumption. The supply declining trend of international fuel prices, CID of services by hotels, guest houses and on the imports of petroleum products revised restaurants with the registration of Sri Lanka upwardly for petrol (both 92 octane and 95 Tourism Development Authority has been octane) to Rs. 50 per liter, auto diesel to Rs. 25
53 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
per liter from Rs. 2.85 per liter and super diesel increased by Rs. 59 billion or 3.2 percent to Rs. to Rs. 25 per liter from Rs. 15 per liter with 1,890.9 billion in 2019 from Rs. 1,831.5 billion in effect from April 23, 2020. In addition, Customs 2017 reflecting the weaker revenue collection surcharge on the importation of petroleum except for income taxes. The revenue in 2019 products increased for above fuel categories declined by 1.5 percent to Rs. 1890.9 billion further while introducing a Customs surcharge from Rs. 1,920.0 billion in 2018 mainly due to of Rs. 26 per litre on the importation of petrol the decline in domestic and import based taxes (Octane 92) effective from April 23, 2020. and non-tax revenue collection. Reflecting the Moreover, Customs duty waiver stood at Rs. 5 increased income tax revenue albeit at the per litre on petrol (Octane 92) was withdrawn low performance of the other domestic and
Chapter 03 Chapter with effect from April 23, 2020. The fuel price import-based taxes such as Excise duty, VAT, stabilization fund (FPSF) was incorporated PAL, NBT, CESS and SCL, total tax revenue with a view to keep fuel price stabilize for a slightly increased by 1.3 percent to Rs. 1,734.9 considerable time with an initial fund of Rs. 50 billion in 2019 from Rs. 1,712.3 billion in 2018. billion while the surcharge collected will be Non-tax revenue significantly declined in 2019 credited to the fund. in terms of as a percent of GDP and in nominal terms due to the drop in revenue from fees 3.4 Government Revenue Performance and charges and non-report of profit transfers from the Central Bank: non-tax revenue as a Total government revenue as a percent of GDP percentage of GDP declined by 0.4 percentage plummeted for the third consecutive year in points to 1.0 percent in 2019 from 1.4 percent 2019 from 13.7 percent of GDP in 2017 to 12.6 in 2018; in nominal terms, non-tax revenue percent in 2019 mainly due to weaker economic declined noticeably by 24.9 percent to Rs. activities which have ramification effects on 156.0 billion in 2019 from Rs. 207.7 billion in tax and non-tax revenue collection amidst the 2018. Consequently, the actual total revenue aggressive revenue mobilization efforts made was well below 80.7 percent of the envisaged to increase revenue through the increase in revenue estimate of Rs. 2,344.0 billion. The tax rates and broadening of the tax bases. realization of non-tax revenue was 58.4 percent In nominal terms, total revenue marginally of the estimated revenue for 2019.
Table 3.3 | Government Revenue Rs. Million 2019 Item 2014 2015 2016 2017 2018 (Provisional) Tax Revenue 1,050,362 1,355,779 1,463,689 1,670,178 1,712,318 1,734,925 Income Tax 198,115 262,583 258,857 274,562 310,449 427,700 VAT 275,350 219,700 283,470 443,739 461,651 443,877 Nation Building Tax 44,583 45,004 57,424 69,035 71,357 70,672 Excise Duty 256,690 497,623 454,952 469,454 484,242 399,478 Import Duties 81,108 132,189 156,487 136,501 96,991 98,427 Ports & Airports Development 68,646 58,644 88,823 102,360 113,950 112,174 Levy Special Commodity Levy 47,953 52,276 55,825 71,402 75,807 70,364 Other 77,917 87,760 107,851 103,125 97,872 112,233 Non Tax Revenue 144,844 99,099 222,372 161,353 207,656 155,974 Interest / Rent 13,647 7,321 15,806 11,845 13,731 18,547 Profit and Dividends 46,814 29,798 108,160 53,998 41,828 27,857 Sales and Charge 35,499 44,632 72,606 66,575 105,202 73,884 Social Security Contribution 14,919 15,213 18,046 22,940 25,215 28,985 Central Bank Profit Transfers 11,500 - 5,000 - 15,000 – Other 22,466 2,135 2,754 5,995 6,681 6,701 Total Revenue 1,195,206 1,454,878 1,686,061 1,831,531 1,919,973 1,890,899
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Table 3.3 | Government Revenue contd... Rs. Million 2019 Item 2014 2015 2016 2017 2018 (Provisional) As a % of GDP Tax Revenue 10.1 12.4 12.2 12.5 11.9 11.6 Income Tax 1.9 2.4 2.2 2.1 2.2 2.8 VAT 2.7 2.0 2.4 3.3 3.2 3.0 Nation Building Tax 0.4 0.4 0.5 0.5 0.5 0.5
Excise Duty 2.5 4.5 3.8 3.5 3.4 2.7 03 Chapter Import Duties 0.8 1.2 1.3 1.0 0.7 0.7 Ports & Airports Development 0.7 0.5 0.7 0.8 0.8 0.7 Levy Special Commodity Levy 0.5 0.5 0.5 0.5 0.5 0.5 Other 0.8 0.8 0.9 0.8 0.7 0.7 Non Tax Revenue 1.4 0.9 1.9 1.2 1.4 1.0 Interest / Rent 0.1 0.1 0.1 0.1 0.1 0.1 Profit and Dividends 0.5 0.3 0.9 0.4 0.3 0.2 Sales and Charge 0.3 0.4 0.6 0.5 0.7 0.5 Social Security Contribution 0.1 0.1 0.2 0.2 0.2 0.2 Central Bank Profit Transfers 0.1 – 0.04 - 0.1 - Total Revenue 11.5 13.3 14.1 13.7 13.4 12.6 Source: Department of Fiscal Policy
3.4.1 Tax Revenue
The tax revenue, comprising of direct and income taxes, PAYE tax, ESC and withholding indirect taxes, to GDP ratio declined to 11.6 tax on interest income. Direct tax revenue percent in 2019 from 11.9 percent in 2018. as a percentage of GDP augmented by 0.6 However, in nominal terms, tax revenue percentage points to 2.8 percent in 2019 from increased slightly by 1.3 percent to Rs. 1,734.9 2.2 percent of GDP in 2018 while in nominal billion in 2019 from Rs. 1,712.3 billion in the terms, it increased notably by 37.8 percent to previous year resulting in a 16.5 percent or Rs. Rs. 427.7 billion from Rs. 310.4 billion in 2018. 342.1 billion deviation from the annual estimate of Rs. 2,077.0 billion. The revenue decline in VAT, Figure 3.2 | Composition of Tax Revenue – 2019 NBT, excise duty on motor vehicles, petroleum products and cigarettes, SCL, PAL, CESS levy and Telecommunication Levy was responsible for this deviation amidst the slight increase in excise duty on liquor and CID. Revenue from indirect taxes to the government tax revenue was 75.3 percent: the contribution of taxes on goods and services and taxes on external trade to the indirect tax revenue amounted to 74.6 percent and 25.4 percent, respectively in 2019.
Reflecting the implementation of New Inland Revenue Act, revenue from direct taxes increased significantly both in terms of GDP Source: Department of Fiscal Policy and in nominal terms while contributing 24.7 percent of total tax revenue with an increase in revenue from corporate and non-corporate
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Table 3.4 | Government Tax Revenue – By Source Rs. Million Source 2018 2019 (Provisional) 2019/2018 Change (%) Income Tax 310,449 427,700 37.8 Corporate & Non Corporate 169,672 272,603 60.7 PAYE 41,385 49,445 19.5 ESC 52,979 55,301 4.4 Tax on interest 46,414 50,351 8.5
Domestic Consumption Based Taxes 547,568 533,801 -2.5 VAT – Domestic 282,488 273,963 -3.0 NBT – Domestic 51,192 52,446 2.4
Chapter 03 Chapter Tax on Liquor 113,944 115,443 1.3 Tax on Cigarettes/Tobacco 92,243 87,400 -5.3 Other (Excise) 7,701 4,549 -40.9 Import Based Taxes 809,844 711,927 -12.1 Import Duties 96,991 98,427 1.5 VAT – Import 179,163 169,914 -5.2 NBT – Import 20,165 18,227 -9.6 PAL 113,950 112,174 -1.6 SCL 75,807 70,364 -7.2 Cess Levy 53,369 50,703 -5.0 Petroleum – Excise 66,318 61,740 -6.9 Motor Vehicles – Excise 204,081 130,378 -36.1 Licence and Other 44,457 61,497 38.3 Telecommunications Levy 28,326 18,261 -35.5 Other 16,131 43,236 168.0 Total Tax Revenue 1,712,318 1,734,925 1.3
Source : Department of Fiscal Policy
Income Taxes Figure 3.3 | Performance of Income Tax
Revenue from income taxes increased due to the rise in revenue from all type of income taxes such as corporate and non-corporate taxes including PAYE tax, ESC and WHT on interest income. The share of income tax revenue to total tax revenue increased to 24.7 percent in 2019 from 18.1 percent in 2018 enhancing the revenue mobilization from direct taxes.
Table 3.5 | Performance of Income Tax
Rs. Million
2019 Growth Source: Department of Fiscal Policy Item 2017 2018 (Provisional) %
Total Income 274,562 310,449 427,700 37.8 Revenue from corporate and non-corporate Tax income taxes enhanced significantly by 60.8 Corporate & 143,588 169,672 272,603 60.7 percent to Rs. 272.6 billion in 2019 from Rs. Non Corporate 169.7 billion in 2018. The share of corporate income tax to the total income tax increased PAYE 32,920 41,385 49,445 19.5 to 95.8 percent reflecting the expansion of tax base of three-tier corporate tax structure ESC 44,720 52,979 55,301 4.4 introduced under the Inland Revenue Act, Tax on Interest 53,334 46,414 50,351 8.5 No. 24 of 2017 coupled with the improved tax administration, in particular, tax returns and Source: Department of Fiscal Policy payments. In terms of non-corporate taxes, PAYE tax revenue enhanced significantly by 19.5
56 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 percent to Rs. 49.4 billion in 2019 from Rs. 41.4 domestic economic activities declined by 3.0 billion in 2018 benefiting from the enhanced percent to Rs. 274.0 billion in 2019 from Rs. compliance due to the Revenue Administration 282.5 billion in 2018. Revenue from financial Management Information System (RAMIS). services which is the single largest contributor Revenue generated from ESC increased by 4.4 for the VAT revenue dropped by 10.8 percent percent to Rs. 55.3 billion in 2019 from Rs. 53.0 to Rs. 49.8 billion and other services declined billion in 2018 mainly due to the turnover-based by 5.5 percent to Rs. 138.9 billion in 2019. ESC collection. Meanwhile, revenue from WHT Revenue generated from the manufacturing on interest income increased by 8.5 percent to sector increased by 6.4 percent to Rs. 85.2 Rs. 50.3 billion in 2019 from Rs. 46.4 billion in billion. Meanwhile, revenue from VAT on import the previous year. related activities also fell by 5.2 percent to 03 Chapter Rs. 170.0 billion in 2019 from Rs. 179.2 billion Value Added Tax (VAT) in 2018. Despite the sluggish import related activities, items such as coal, milk powder, Total revenue from VAT declined mainly due to cement, steel billets and cement clinker were the slowdown in domestic economic activities mainly contributed to the revenue from VAT on and the contraction of import related activities. imports. VAT rate reduced to 8 percent from Consequently, the share of VAT revenue to total 15 percent and threshold for VAT registration tax revenue declined sharply to 25.6 percent increased in the latter part of 2019 which will in 2019 from 27.0 percent in 2018. Revenue have an impact on the revenue in the near term, from VAT as a percentage of GDP declined to however, VAT revenue is expected to pick up in 3.0 percent in 2019 from 3.2 percent in 2018. the medium term with the enhanced economic In nominal terms, it declined moderately by activities and aggregate demand. 3.9 percent to Rs. 443.9 billion in 2019 from Rs. 461.6 billion in 2018. Revenue from VAT on
Table 3.6 | Value Added Tax Revenue Rs. Million 2019 Item 2014 2015 2016 2017 2018 (Provisional) Domestic 140,413 131,662 168,817 276,065 283,327 275,089 Imports 136,221 89,174 115,339 168,394 179,163 169,914 Gross Revenue 276,634 220,836 284,156 444,459 462,490 445,003 Refunds 1,284 1,136 686 720 840 1,126 Net Revenue 275,350 219,700 283,470 443,739 461,651 443,877 Net Revenue as a % of GDP 2.7 2.0 2.4 3.3 3.2 3.0 Source: Department of Fiscal Policy 18.2 billion in 2019 from Rs. 20.2 billion in 2018. Nation Building Tax (NBT) NBT revenue from services declined marginally by 0.6 percent to Rs. 39.7 billion in 2019 from Revenue from NBT as a percent of GDP remained Rs. 40.0 billion in the previous year, while NBT unchanged at 0.5 percent in 2019. However, revenue from manufacturing sector increased the contribution of NBT revenue to total tax significantly by 13.5 percent to Rs. 12.7 billion in revenue declined to 4.1 percent in 2019 from 4.2 2019 from Rs. 11.2 billion in 2018. Imports such percent in 2018. In nominal terms, total revenue as milk powder, cellular phones, steel billets collection from NBT declined marginally in and cement were the main contributors to the 2019 due to the weakened domestic economic NBT revenue on imports. and import related activities. Accordingly, revenue from NBT declined by 1.0 percent Excise Duty to Rs. 70.7 billion in 2019 from Rs. 71.3 billion in 2018. However, revenue generated from Revenue generation from excise duties, the domestic activities increased slightly by 2.4 single largest contributor to the total tax percent to Rs. 52.4 billion in 2019 from Rs. 51.2 revenue, declined significantly both as a billion in 2018 whereas revenue from import percentage of GDP and in nominal terms mainly related activities declined by 9.6 percent to Rs. due to the reduction in revenue from excise
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duties on motor vehicles, petroleum products terms, revenue from excise duty also declined and cigarettes amidst the marginal increase in significantly by 17.5 percent to Rs. 399.5 billion revenue collection from liquor. Revenue from in 2019 from Rs. 484.2 billion in 2018. However, excise duties as a percentage of GDP declined revenue from excise duties continued to be the by 0.7 percentage points to 2.7 percent in leading contributor to the total tax revenue in 2019 from 3.4 percent in 2018. In nominal 2019, accounting for 23.0 percent of total tax Table 3.7 | Excise Duty Revenue revenue in 2019.
Rs. Million
2019 Item 2014 2015 2016 2017 2018
Chapter 03 Chapter (Provisional)
Liquor 69,100 105,234 120,238 113,684 113,944 115,443
Cigarettes 57,204 79,981 88,752 85,956 92,198 87,367
Motor Vehicles 98,531 263,470 186,499 189,740 204,081 130,378
Petroleum Products 28,732 45,092 55,719 73,983 66,318 61,740
Other 3,087 3,812 3,704 6,091 7,701 4,549
Total 256,654 497,589 454,912 469,454 484,242 399,478
Source: Department of Fiscal Policy
Revenue from motor vehicles declined excise duty on other articles mainly beverages significantly by 36.1 percent to Rs. 130.4 billion and plastic resins declined noticeably by 40.9 in 2019 from Rs. 204.1 billion in 2018 as a percent to Rs. 4.5 billion in 2019 from Rs. 7.7 result of the import curtailment policies such billion in 2018. However, revenue from liquor as upward revision of excise duty on motor increased marginally by 1.3 to Rs. 115.4 billion vehicles of an engine capacity less than 2,000 in 2019 from Rs. 113.9 billion in 2018 mainly due cm3 and the imposition of Luxury Tax on Motor to the upward revision of excise duty on all Vehicles (LTMV) as proposed in the Budget liquor categories with effect from March 2019. 2019. In addition to the revisions of excise This marginal increase was further attributed to duty and LTMV, a temporary suspension of the duty hike on liquor again in early December the establishment of Letter of Credit (LC) for 2019. Meanwhile, liquor and cigarette taxes the importation of motor vehicles under the were upwardly adjusted to recoup the loss concessionary permit scheme for government of revenue from the reduction of VAT rate and servants until April 2019 had a negative impact the removal of NBT with no adjustments to the on excise duty revenue on motor vehicles. retail prices. The above deterrence helped lower the contribution of revenue from motor vehicles Figure 3.4 | Cigarette Production and Excise Tax to total excise revenue to 32.6 percent in 2019 Revenue from 42.1 percent recorded in 2018.
Revenue from petroleum products also declined by 6.9 percent to Rs. 61.7 billion in 2019 from Rs. 66.3 billion in 2018 mainly due to the decline in diesel imports during the year and the reduction of excise duty to Rs. 6.00 per litre from Rs. 13.00 per litre on the importation of auto diesel with effect from November 2018. Excise duty revenue from cigarettes also declined by 5.2 percent to Rs. 87.4 billion in 2019 from Rs. 92.2 billion in 2018 reflecting the impact of upward revision of duty on cigarettes Sources : Department of Fiscal Policy and Department of Excise in several times coupled with a notable drop in production in 2019. Moreover, revenue from
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Table 3.8 | Production and Excise Tax Collection from Liquor and Cigarettes Quantity Produced Excise Tax Revenue Year Hard Liquor Malt Liquor Cigarattes % Liquor Cigarattes % % Change % Change % Change (Liter Mn) (Liter Mn) (Mn. Sticks) Change (Rs.Bn) (Rs. Bn) Change 2012 49.7 -7.6 99.3 13.5 4,320 -3.3 59.9 7.3 53.9 8.7 2013 44.2 -11.1 120.2 21.0 4,035 -6.6 66.0 10.2 58.6 8.7 2014 43.9 -0.6 124.5 3.6 3,777 -6.4 69.1 4.6 57.2 -2.3 2015 51.8 17.9 125.8 1.0 4,116 9.0 105.9 53.3 80.0 39.9 2016 55.6 7.3 52.2 -58.5 3,789 -7.9 120.8 14.1 88.8 11.0 2017 46.9 -15.5 71.1 36.3 3,149 -16.9 113.7 -5.9 86.0 -3.2 2018 25.3(a) -46.1 11.4(a) -84.0 3,150 0.0 113.9 0.2 92.2 7.2 2019 24.7(a) -2.4 34.5(a) 203.0 2,622 -16.8 116.6 2.4 87.4 -5.2 03 Chapter Sources: Department of Fiscal Policy, Department of Sri Lanka Customs and Department of Excise (a) Liquor Production in 2018 and 2019 are in Absolute liters
Customs Import Duty (CID) Ports and Airports Development Levy (PAL) Revenue from CID as a percentage of GDP remained unchanged at 0.7 percent in 2019 and Revenue from PAL declined both as a percentage the contribution of revenue from CID to total of GDP and in nominal terms reflecting the tax revenue remained at 5.7 percent. In nominal impact of import shrinkage in 2019 coupled terms, revenue from CID enhanced slightly by with the reduction of PAL rate on machineries 1.5 percent to Rs. 98.4 billion in 2019 from Rs. and equipment of HS Chapter 85 and 84 with 97.0 billion in 2018 benefiting from the increase effect from June 2019 and September 2019, in CID by 10 percent for 261 identified goods respectively. Accordingly, revenue from PAL as with effect from March 2019 as announced in the a percentage of GDP declined to 0.7 percent in Budget 2019 amidst the duty waivers granted 2019 from 0.8 percent in 2018 and in nominal on petrol, diesel, wheat grain and milk powder terms, revenue from PAL declined by 1.6 together with duty exemptions on selected percent to Rs. 112.2 billion in 2019 from Rs. 113.9 sectors including government projects during billion in 2018. Imports such as diesel, petrol, the year. In addition to the above revision, crude petroleum oil, milk powder and LP gas duty hikes on the importation of undenatured were main contributors to the PAL revenue. ethyl alcohol, petrol (Octane 92) and super The share of PAL in tax revenue decelerated in diesel effective from March 2019 and July 2019, 2019 to 6.5 percent from 6.7 percent recorded respectively had a significant impact on the in 2018. The standard PAL rate increased to revenue. Meanwhile, petrol, undenatured ethyl 10.0 percent from 7.5 percent with effect from alcohol, diesel, milk powder and wheat grain December 2019 which has an impetus for the continued to be the major revenue sources for enhancement of revenue from PAL. CID in 2019. CESS Levy Special Commodity Levy (SCL)
Revenue collection from SCL, a composite Total revenue collection from CESS levy levy, declined by 7.2 percent to Rs. 70.4 billion declined both in terms of GDP and in nominal in 2019 from Rs. 75.8 billion in 2018 as a result terms mainly due to the deceleration of import of import shrinkage of SCL liable commodities related activities as well as the removal of CESS together with the reduction of SCL rates levy on the imports of selected consumable applicable on the importation of several goods periodically. As a percentage of GDP, commodities including B’ onion, fish and maize CESS revenue declined to 0.3 percent in 2019 etc. Commodities such as non-refined palm from 0.4 percent in the previous year. The oil, sugar, B’ onion, potatoes and refined palm collected CESS revenue on the imports and oil were mainly contributed to SCL revenue in exports dropped by 5.0 percent to Rs. 50.7 2019. However, revenue from SCL as a percent billion in 2019 from Rs. 53.4 billion in 2018. of GDP remained unchanged at 0.5 percent. Revenue from CESS on the imports declined by 4.7 percent to Rs. 48.4 billion in 2019 from
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Rs. 50.8 billion in 2018. CESS collection from from Beedi leaves contributed to around one- Beedi leaves remained as the single largest fifth of total collected CESS revenue. Products contributor to total CESS revenue in 2019 due such as ceramic tiles, cement, fabrics and to the increase in CESS rate on the imports of lubricants remained as the main contributors to Beedi leaves to Rs. 3,500 per kg from Rs. 2,500 CESS revenue on imports. Revenue from CESS per kg effective from March 2019 as announced on the exports decreased by 11.3 percent to Rs. in the Budget 2019. Accordingly, CESS revenue 2.3 billion in 2019 from Rs. 2.6 billion in 2018.
Table 3.9 | CESS Revenue from International Trade and Government Subsidy for Agriculture Sector Development : 2017–2019 Rs. Million Chapter 03 Chapter 2019 2019 Description 2017 2018 Description 2017 2018 (Provisional) (Provisional) Cess on Exports 2,980 2,592 2,300 Commercial Crop Development 33,973 29,296 36,628 Tea-under Tea (Tax and Control of 550 591 721 Tea 445 615 556 Export) Act, Sri Lanka Tea Board Law Rubber-under Rubber Replanting 90 10 6 Rubber 703 542 564 Subsidy Act Coconut-under Coconut 105 107 144 Coconut 598 653 472 Development Act EDB Cess- under Sri Lanka Export 2,235 1,884 1,428 Cashew 54 67 70 Development Act Cess on Imports 56,574 50,777 48,403 Minor Export Crops (Cinnamon, 346 440 - Cocoa, Coffee, Pepper) Imports- under Sri Lanka Export 56,574 50,777 48,403 Fertilizer Subsidy for Total 31,827 26,979 34,966 Development Act Agriculture Sector Development Total 59,554 53,369 50,703 Total 33,973 29,296 36,628 Sources: Department of Sri Lanka Customs and Department of National Budget (a) Provisional
Telecommunication Levy
Revenue collection from Telecommunication Levy declined significantly by 35.5 percent as well as fees and charges. Non-tax revenue to Rs. 18.3 billion in 2019 from Rs. 28.3 as a percentage of GDP dropped to 1.0 percent billion in 2018 mainly due to the removal in 2019 from 1.4 percent in 2018. In nominal of Telecommunication Levy applied on terms, non-tax revenue declined significantly Internet services and the reduction of the by 24.9 percent to Rs. 156.0 billion in 2019 from rate of Telecommunication Levy on voice Rs. 207.6 billion in 2018. The share of non-tax communication from 25 percent to 15 percent revenue in total revenue declined notably to in November 2018. Also, Telecommunication 8.2 percent in 2019 from 10.8 percent in the Levy on voice communication further reduced previous year. from 15 percent to 11.25 percent in December 2019. The cumulative impact of tax removal and Profits and dividend transfers in 2019 fell by consecutive rate reductions led to a revenue 33.4 percent to Rs. 27.8 billion in 2019 from Rs. shortfall in Telecommunication Levy. 41.8 billion in 2018, reflecting the deteriorated financial performance of major SOBEs. Revenue 3.4.2 Non-tax Revenue from fees and charges declined significantly by 29.8 percent to Rs. 73.9 billion in 2019 from Rs. Non-tax revenue declined significantly both in 105.2 billion in 2018 due to the slowdown of terms of GDP as well as in nominal terms mainly economic activities and the impact of Easter due to the non-record of distributable profits Sunday attacks amidst the increase in fees from the Central Bank, the decline in profits and and charges in the Budget 2019. Meanwhile, dividend transfers from SOBEs together with rental income declined by 15.4 percent to Rs. the drop in revenue collection of rent income 4.7 billion in 2019 from Rs. 5.6 billion in 2018. However, non-tax revenue from other sources
60 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 such as interest income and social security 13.8 billion and 15.0 percent to Rs. 30.0 billion, contribution increased by 69.8 percent to Rs. respectively compared to the previous year.
Table 3.10 | Non-Tax Revenue Rs. Million Item 2014 2015 2016 2017 2018 2019 2018/2019 2019 (% (% change) of Total Non-Tax Revenue) Interest / Rent 13,647 7,321 15,806 11,845 13,731 18,547 35.1 11.9 Profits and Dividends 46,814 29,798 108,160 53,998 41,828 27,857 -33.4 17.9 Chapter 03 Chapter Sales and Charges 35,499 44,632 72,606 66,575 105,202 73,884 -29.8 47.4 Social Security 14,919 15,213 18,046 22,940 25,214 28,985 15.0 18.6 Contribution Central Bank Profit 11,500 - 5,000 – 15,000 – -100.0 0.0 Transfers Other 22,466 2,135 2,754 5,995 6,681 6,701 0.3 4.3 Total 144,845 99,099 222,372 161,353 207,656 155,974 -24.9 100.0 Sources: Department of Treasury Operations, Department of State Accounts and Department of Fiscal Policy
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Table 3.11 | Variance Analysis of Government Revenue Rs. Bn. Item 2018 2019 Est. 2019 Reason Revenue from income tax increased significantly by 37.8 percent or Rs. 42.7 billion to Rs. 427.7 billion in 2019 as against the estimate of Rs. 385 billion. This was mainly due to improved performance of corporate and non-corporate income tax by 60.7 percent with the expanding of the income tax base for Income Tax 310.5 385.0 427.7 the individuals and the corporate sector. Revenue from PAYE, WHT and ESC also positively contributed to this revenue achievement. Accordingly, the share of direct taxes to total tax revenue increased to 24.7 percent in 2019 from 18.1 in 2018. VAT revenue declined noticeably by 16.1 percent or Rs. 85.1 billion in 2019
Chapter 03 Chapter VAT 461.7 529 443.9 as against the estimate mainly due to subdued economic activity and the contraction of imports by 10.3 percent in 2019. Actual revenue from excise duties declined significantly by 32.6 percent or Rs. 193.5 billion (1.3 percent of GDP) compared to the annual estimate of 2019. The reduction of excise duty collection from motor vehicles with the decline of motor vehicle imports stemming from the upward revision of motor vehicle taxes together with the curtailment of motor vehicle imports was partly responsible for the deviation. The decline in revenue collected Excise Tax 484.2 593.0 399.5 from cigarettes due to the drop in production and the increase in duty rates and the decline in revenue collection from petroleum products with the reduction of duty rates on auto diesel by Rs. 7 per litre in November, 2018 while low tax compliance and the broadening of the tax relief on sugar based beverages to safeguard the domestic industries also attributable for this variation. However, the excise duty rate increase on liquor products helped contain the deviation. Revenue from Import Duty showed a marginal increase by 1.5 percent, collecting around 70 percent from Annual Estimate 2019. This performance Import Duty 97.0 140.0 98.4 was mainly benefited from the increase in Import Duty rates by 10 percent for 261 identified goods in line with the Budget 2019 coupled with duty hike of undenatured ethyl alcohol, petrol (octane 92) and super diesel in 2019. Ports and The import shrinkage together with the reduction of PAL rate on selected Airports machineries and equipment, the increase in the standard PAL rate to 10.0 114.0 115.0 112.2 Development percent from 7.5 percent in December 2019 helped realize 98 percent of the Levy (PAL) estimate. Nation Weakened domestic economic activity and the decline in imports caused Building Tax 71.4 91.0 70.7 the deviation of actual revenue from the estimate with a realization of 78 (NBT) percent. Amidst the decline in revenue collection from SCL, CESS and Telecommunication Levy, in particular, Rs. 28.7 billion collected from Debt Repayment Levy caused the narrow the deviation. The shrinkage of imports, Other Taxes 173.68 224.00 182.60 and the reduction of Telecommunication Levy on voice communication from 25 percent to 15 percent at the end of 2018 and rate cut to 11.25 percent from 15 percent in December 2019 attributed to this deviation. Non-tax revenue declined significantly mainly due to non-record of Central Bank profits, a decline in profits and dividends from major SOEs coupled with Non-Tax 207.7 267.0 156.0 drop in revenue from rent income and fees and charges. However, revenue Revenue from social security contribution and interest income positively contributed to the non-tax revenue. Total 1,920.0 2,344.0 1,890.9 Compiled by the Department of Fiscal Policy
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Box 3.1 | Major Fiscal Measures: January – December 2019 Effective Measures Date Value Added Tax (VAT) – Value Added Tax Act, No. 14 of 2002 21.05.2019 Gazette Notification No. 2124/3 of 21.05.2019 To reduce VAT rate to 5 percent from 15 percent for a period of one year on supply of services by a hotel, guest house, restaurant or other similar businesses and supply of services in respect of inbound tours, by a travel agent, registered with the SLTDA. 01.06.2019 Gazette Notification No. 2125/69 of 31.05.2019 To increase VAT rate to 7 percent from 5 percent until March 31, 2020 on supply of services by a hotel, guest Chapter 03 Chapter house, restaurant or other similar businesses and supply of services in respect of inbound tours, by a travel agent, registered with the SLTDA. 01.11.2019 Value Added Tax (Amendment) Act, No, 19 of 2019 To increase composite VAT rate applicable on local sale of selected garments by the export oriented Board of Investment (BOI) enterprises to Rs. 100 from Rs. 75 per piece. To exempt the supply of locally produced rice bran oil, manufactured from locally produced rice from VAT. To treat the supply of goods by the construction contractors to their overseas projects as exports. To reduce VAT on the supply of residential accommodation of condominium housing units to 6 percent and to calculate input tax relating to such supply at 5 percent. To remove the exemption applicable on the sale of condominium housing units 01.12.2019 Gazette Notification No. 2151/52 of 29.11.2019 To provides for the VAT rate applicable with effect from 01.12.2019, as follows; supply of services by a hotel, guest house, restaurant or other similar businesses providing similar services, registered with the SLTDA from VAT, in the event not less than sixty percent of the total value of the inputs is sourced from local supplies/sources – 0% importation of fabrics – 0% supply of financial services – 15% Standard rate applicable on supply of services and/or import/supply of goods other than the above – 8% 06.12.2019 Gazette Notification No. 2152/60 of 05.12.2019 To clarify the terms in Paragraph 1(a) in the Gazette Notification No. 2151/52 of 29.11.2019. Nation Building Tax (NBT) – Nation Building Tax Act, No. 9 of 2009 01.11.2019 Nation Building Tax (Amendment) Act, No. 20 of 2019 To remove the exemption on the importation, manufacture and sale of imported cigarettes from NBT. To exempt the importation of unprocessed gem stones for re-export after cutting and polishing from NBT, in the event the importer is registered with the National Gem and Jewellery Authority and the payments are made in foreign currency and remitted to Sri Lanka. To exempt the palm oil manufactured locally out of imported crude palm oil or imported palm olein NBT. To exempt importation of Lucerne (alfalfa) meal and pellets from NBT. To exempt importation of yachts and other vessels for pleasure or sports, rowing boats and canvas from NBT. To exempt importation of goods by an enterprise entered into an agreement with the BOI for a project with an investment of US dollars 50 million or above from NBT during the project implementation period or prior to the commencement of commercial operations. To exempt services of a construction contractor or a sub-contractor in respect of constructing any building, road, bridge, water supply, drainage or sewerage system, harbor, airport or any infrastructure project in telecommunication or electricity from NBT. To exempt foreign currency receipts by tourist hotels, guest houses, restaurants or other similar businesses which are registered with the SLTDA from NBT. 01.12.2019 To remove NBT. Excise (Special Provisions) Duty – Excise (Special Provisions) Act, No. 13 of 1989 11.01.2019 Gazette Notification No. 2105/48 of 11.01.2019 To extend the period to Customs clearance for which vehicles imported under public service permit scheme and Letters of Credit established on or before June 08, 2018.
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Box 3.1 | Major Fiscal Measures: January – December 2019 contd... Effective Measures Date 06.03.2019 Gazette Notification No. 2113/9 of 05.03.2019 To increase Excise Duty on cigarettes as follows:
Prevailed Tax Tax Revision Type (Rs. per 1,000 sticks) (Rs. per 1,000 sticks) < 60 mm 11,675 - 60 – 67 mm 17,375 19,500 Chapter 03 Chapter 67 – 72 mm 20,500 23,000 72 – 84 mm 33,550 37,580 > 84 mm 37,675 42,200 To revise Excise Duty on selected items as follows:
Item Prevailed Tax Tax Revision Sweetened beverages Rs. 12 per litre or 30 cents per gram Rs. 12 per litre or 40 cents per gram of sugar in excess of the exempted of sugar in excess of the exempted quantity quantity Palm oil fatty acids 25% 20% Tallow fatty acids 25% 20% Refrigerators 17% 25% Vehicles imported as chassis Rs. 700,000 per unit Rs. 500,000 per unit fitted with engines To increase Excise Duty on motor vehicles with engine capacity less than 2,000 cm3. To reduce Excise Duty on hearses, hybrid and electric vans and single cabs. To reduce Excise Duty on buddy trucks with a cargo carrying capacity of less than 2,000 kg. 13.03.2019 Gazette Notification No. 2114/25 of 13.03.2019 To remove retrospective effect of the Order issued in Gazette Notification No. 2113/9 of 05.03.2019. 15.03.2019 Gazette Notification No. 2114/49 of 14.03.2019 To reduce Excise Duty on electric vehicles. 05.04.2019 Gazette Notification No. 2117/48 of 04.04.2019 To grant concessionary Excise Duty to release vehicles lying in the Hambantota Port due to the revision of Excise Duty on motor vehicles during 2015 – 2017. 14.05.2019 Gazette Notification No. 2123/5 of 13.05.2019 To increase Excise Duty on cigarettes exceeding 72 mm but not exceeding 84 mm in length to Rs. 37,600 per 1,000 sticks from Rs. 37,580 per 1,000 sticks. 11.07.2019 Gazette Notification No. 2131/29 of 10.07.2019 To increase Excise Duty on cigarettes exceeding 67 mm but not exceeding 72 mm in length to Rs. 37,600 per 1,000 sticks from 23,000 Rs. per 1,000 sticks. 09.08.2019 Gazette Notification No. 2135/55 of 08.08.2019 To extend the period to Customs clearance for which vehicles charged and levied under the Gazette Notification No. 2117/48 of 04.04.2019. 15.10.2019 Gazette Notification No. 2145/12 of 14.10.2019 To reduce Excise Duty on cigarettes exceeding 67 mm but not exceeding 72 mm in length to Rs. 33,000 per 1,000 sticks from Rs. 37,600 per 1,000 sticks. 01.12.2019 Gazette Notification No. 2151/60 of 01.12.2019 To increase Excise Duty on cigarettes as follows:
64 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Box 3.1 | Major Fiscal Measures: January – December 2019 contd... Effective Measures Date Prevailed Tax Tax Revision Type (Rs. per 1,000 sticks) (Rs. per 1,000 sticks) < 60 mm 11,675 13,360 60 – 67 mm 19,500 22,300 67 – 72 mm 33,000 37,650 72 – 84 mm 37,600 43,100 > 84 mm 42,200 48,350 Chapter 03 Chapter Excise (Ordinance) Duty – Excise Ordinance (Chapter 52) 06.03.2019 Excise Notification No. 01/2019 (Gazette Notification No. 2113/6 of 05.03.2019) To increase Excise Duty on locally manufacturing liquor as follows: Prevailed Tax Tax Revision Type (Rs. per litre) (Rs. per litre) Special Arrack 3,300 - Other Arrack 3,300 3,550 Country made Foreign Liquor 3,300 3,550 Beer (alcohol percentage < 5 percent) 2,400 2,700 Beer (alcohol percentage > 5 percent) 2,400 2,700 Local Wine 100 600 06.03.2019 Excise Notification No. 02/2019 (Gazette Notification No. 2113/7 of 05.03.2019) To revise Excise Duty on imported foreign liquor as follows:
Prevailed Tax Tax Revision Type (Rs. per bulk litre) (Rs. per bulk litre) Malt Liquor (Beer) 50 55 Wine 100 110 Other 200 215 06.03.2019 Excise Notification No. 03/2019 (Gazette Notification No. 2113/8 of 05.03.2019) To increase Excise Duty on local wine (with sake) produced by local materials. 20.06.2019 Excise Notification No. 04/2019 (Gazette Notification No. 2128/30 of 20.06.2019) To introduce foolproof sticker and sticker management system. 27.09.2019 Excise Notification No. 05/2019 (Gazette Notification No. 2142/77 of 27.09.2019) To limit of sale of foreign liquor by retail and maximum quantity for transport and possession of foreign liquor for the bona fide private consumption or use without a pass. 01.11.2019 Excise Notification No. 06/2019 (Gazette Notification No. 2147/75 of 01.11.2019) To amend rules in the Excise Notification No. 04/2019. 03.12.2019 Excise Notification No. 07/2019 (Gazette Notification No. 2152/11 of 03.12.2019) To revise Excise Duty on locally manufacturing liquor as follows:
Prevailed Tax Tax Revision Type (Rs. per litre) (Rs. per litre) Special Arrack 3,300 3,800 Other Arrack 3,550 4,050 Country made Foreign Liquor 3,550 4,150 Beer (alcohol percentage < 5 percent) 2,700 3,200 Beer (alcohol percentage > 5 percent) 2,700 3,200 Local Wine 600 900
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Box 3.1 | Major Fiscal Measures: January – December 2019 contd... Effective Measures Date 03.12.2019 Excise Notification No. 08/2019 (Gazette Notification No. 2152/12 of 03.12.2019) To revise Excise Duty on imported foreign liquor as follows:
Prevailed Tax Tax Revision Type (Rs. per bulk litre) (Rs. per bulk litre) Malt Liquor (Beer) 55 135 Wine 110 230
Chapter 03 Chapter Other 215 650 03.12.2019 Excise Notification No. 09/2019 (Gazette Notification No. 2152/13 of 03.12.2019) To revise Excise Duty on locally produced wine. 27.12.2019 Excise Notification No. 10/2019 (Gazette Notification No. 2155/19 of 26.12.2019) To allow exporters to pay Excise Duty or furnish a bond or a bank guarantee and to export on duty free basis. Ports and Airports Development Levy (PAL) – Ports and Airports Development Levy Act, No. 18 of 2011 06.03.2019 Gazette Notification No. 2013/10 of 05.03.2019 To grant exemption and concessionary rates on the importation of selected items. To exempt the payment of PAL: on the sale of pleasure or excursion vessels and yachts, rowing boats and canoes and sailboats manufactured by any BOI enterprise to another BOI enterprise that chartered such vessels and yachts for its business. 07.05.2019 Gazette Notification No. 2122/16 of 07.05.2019 To grant exemption on the importation of security equipment. 01.06.2019 Gazette Notification No. 2125/64 of 31.05.2019 To grant concessionary rates on the importation of selected items in the HS Chapter 85. 25.09.2019 Gazette Notification No. 2142/7 of 24.09.2019 To grant exemption and concessionary rates on the importation of selected items. To exempt the payment of PAL: On the importation of goods by an enterprise entered into an agreement with the BOI for a project with an investment of US dollars 50 million or above during the project implementation period or prior to the commencement of commercial operations. On the importation of goods by any enterprise, which invests on a project to establish climate controlled warehouse facility/cold chain logistics infrastructure facility during the project implementation or construction period. 06.12.2019 Gazette Notification No. 2152/32 of 05.12.2019 To declare standard PAL rate as at 10.0 percent and three tier concessionary rates of 2.5, 5.0 and 7.5 percent. CESS Levy – Sri Lanka Export Development Act, No. 40 of 1979 06.03.2019 Gazette Notification No. 2113/3 of 05.03.2019 To remove CESS levy on the importation of selected goods. 06.03.2019 Gazette Notification No. 2113/4 of 05.03.2019 To introduce and/or revise CESS levy on the importation of selected goods including bio-degradable plastics, motor vehicle parts, tendu leaves, etc. 04.04.2019 Gazette Notification No. 2117/46 of 04.04.2019 To remove retrospective effect of the Order issued in Gazette Notification No. 2113/4 of 05.03.2019. 03.10.2019 Gazette Notification No. 2143/17 of 02.10.2019 To exempt the payment of CESS levy: On the importation of furniture classified under the HS Heading 94.03 by any tourism enterprise entered into an agreement with the BOI and registered with the SLTDA. On the importation of goods by an enterprise entered into an agreement with the BOI for a project with an investment of US dollars 50 million or above during the project implementation period or prior to the commencement of commercial operations. On the importation of goods by any enterprise, which invests on a project to establish climate controlled warehouse facility/cold chain logistics infrastructure facility during the project implementation or construction period.
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Box 3.1 | Major Fiscal Measures: January – December 2019 contd... Effective Measures Date Customs Import Duty (CID) – Revenue Protection Act, No. 19 of 1962 06.03.2019 Revenue Protection Order No. 01/2019 (Gazette Notification No. 2113/2 of 05.03.2019) To revise CID on the importation of selected 14 HS Codes. To create 55 new HS Codes. To increase CID on the importation of selected 261 HS Codes by 10%. 12.06.2019 Revenue Protection Order No. 02/2019 (Gazette Notification No. 2127/13 of 11.06.2019) Chapter 03 Chapter To revise CID on the importation of diesel. 11.09.2019 Revenue Protection Order No. 03/2019 (Gazette Notification No. 2140/19 of 10.09.2019) To revise CID on the importation of beans and tobacco. 28.09.2019 Revenue Protection Order No. 04/2019 (Gazette Notification No. 2142/87 of 27.09.2019) To revise CID on the importation of beverages. Customs Import Duty (CID) Waiver – Customs Ordinance (Chapter 232) 12.01.2019 To reduce CID waiver on the importation of petrol (Octane 92) and auto diesel to Rs. 19 per litre and Rs. 3 per litre from Rs. 20 per litre and Rs. 5 per litre, respectively. 12.06.2019 To reduce CID waiver on the importation of petrol (Octane 92) to Rs. 18 per litre from Rs. 19 per litre. To introduce CID waiver of Rs. 1 per litre on the importation of super diesel. 11.07.2019 To remove CID waiver of Rs. 1 per litre on the importation of super diesel. 11.09.2019 To reduce CID waiver on the importation of petrol (Octane 92) to Rs. 17 per litre from Rs. 18 per litre. 14.12.2019 To increase CID waiver on the importation of wheat grain to Rs. 12 per kg from Rs. 9 per kg. Special Commodity Levy (SCL) – Special Commodity Levy Act, No. 48 of 2007 04.01.2019 Gazette Notification No. 2104/30 of 03.01.2019 To increase SCL on the importation of Black Gram to Rs. 200 per kg from Rs. 125 per kg for a period of six months. 02.02.2019 Gazette Notification No. 2108/65 of 01.02.2019 To extend the validity period of SCL on the importation of Chickpeas (whole and split), Red Lentils (whole and split), Yellow Lentils (whole and split), Beet Sugar, Cane Sugar, White Crystalline Cane Sugar and White Crystalline Beet Sugar for a period of six months. 08.02.2019 Gazette Notification No. 2109/15 of 07.02.2019 To increase SCL on the importation of Potatoes to Rs. 50 per kg from Rs. 20 per kg for a period of three months. 09.02.2019 Gazette Notification No. 2109/20 of 08.02.2019 To increase SCL on the importation of Maize to Rs. 20 per kg from Rs. 10 per kg for a period of six months. 25.02.2019 Gazette Notification No. 2111/58 of 24.02.2019 To extend the validity period of SCL on the importation of Vegetable Oils for a period of one year. 03.03.2019 Gazette Notification No. 2112/48 of 02.03.2019 To extend the validity period of SCL on the importation of B’onions for a period of three months. 08.05.2019 Gazette Notification No. 2122/4 of 07.05.2019 To extend the validity period of SCL on the importation of Sprats, Dried Fish, Potatoes, Green Gram, Mangosteens (fresh and dried), Oranges (dried), Pears, Cherries, Plums and Sloes and Kiwifruit for a period of six months. 21.05.2019 Gazette Notification No. 2124/2 of 21.05.2019 To extend the validity period of SCL on the importation of Red Onions, Peas (whole and split), Dates (fresh and dried), Grapes (dried), Seeds of Cumin, Seeds of Fennel and Margarine for a period of one year. 22.05.2019 Gazette Notification No. 2124/4 of 21.05.2019 To increase SCL on the importation of B’onions to Rs. 40 per kg from Rs. 20 per kg for a period of six months. 04.07.2019 Gazette Notification No. 2130/20 of 03.07.2019 To extend the validity period of SCL on the importation of Black Gram for a period of one year.
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Box 3.1 | Major Fiscal Measures: January – December 2019 contd... Effective Measures Date 11.07.2019 Gazette Notification No. 2131/30 of 10.07.2019 To increase SCL on the importation of Dates (fresh and dried) to Rs. 80 per kg from Rs. 60 per kg for a period of 31 days. To increase SCL on the importation of Oranges (fresh) to Rs. 80 per kg from Rs. 65 per kg for a period of 31 days. To increase SCL on the importation of Apples (fresh) to Rs. 60 per kg from Rs. 45 per kg for a period of 31 days. To increase SCL on the importation of Vegetable Oils by Rs. 25 per kg for a period of 31 days.
Chapter 03 Chapter 19.07.2019 Gazette Notification No. 2132/13 of 18.07.2019 To extend the validity period of SCL on the importation of Maldive Fish, Chillies, Seeds of Coriander, Turmeric, Black Gram Flour, Grated or Powdered Cheese and Canned Fish for a period of one year. 02.08.2019 Gazette Notification No. 2131/44 of 01.08.2019 To extend the validity period of SCL on the importation Chickpeas (whole and split), Red Lentils (whole and split), Yellow Lentils (whole and split), Beet and Cane Sugar, White Crystalline Cane Sugar and White Crystalline Beat Sugar for a period of six months. 09.08.2019 Gazette Notification No. 2135/54 of 08.08.2019 To decrease SCL on the importation of Maize to Rs. 10 per kg from Rs. 20 per kg for a period of six months. 11.08.2019 Gazette Notification No. 2135/67 of 10.08.2019 To extend the validity period of SCL on the importation Dates (fresh and dried), Oranges (fresh), Apples (fresh) and Vegetable Oils for a period of three months. 08.09.2019 Gazette Notification No. 2139/74 of 07.09.2019 To extend the validity period of SCL on the importation Mackerel, Cowpeas and Kurakkan for a period of six months. 11.09.2019 Gazette Notification No. 2140/20 of 10.09.2019 To extend the validity period of SCL on the importation Black Gram for a period of six months. 01.10.2019 Gazette Notification No. 2143/3 of 30.09.2019 To extend the validity period of SCL on the importation Fish (fresh, chilled or frozen), Yoghurt, Butter, Dairy Spreads, Garlic, Grapes (fresh), Mathe Seed, Kurakkan Flour, Ground Nuts (shelled), Mustard Seeds and Salt for a period of one year. 03.10.2019 Gazette Notification No. 2143/21 of 02.10.2019 To decrease SCL on the importation of B’onions to Rs. 1 per kg from Rs. 40 per kg for a period of 31 days. 29.10.2019 Gazette Notification No. 2147/5 of 28.10.2019 To revise SCL on the importation of fish, (Other than the Mackerel fish) to Rs. 25 per kg and on the importation of Chillies (dried, neither crushed nor ground) to Rs. 5 per kg from Rs. 25 per kg for a period of one month. 03.11.2019 Gazette Notification No. 2147/74 of 01.11.2019 To extend the validity period of SCL on the importation B’onions for a period of three months. 08.11.2019 Gazette Notification No. 2148/25 of 07.11.2019 To extend the validity period of SCL on the importation Sprats, Dried fish, Potatoes, Green Gram, Mangoesteens (fresh and dried), Oranges (dried), Pears, Cherries, Plums and Sloes and Kiwifruit for a period of six months. 14.12.2019 Gazette Notification No. 2153/28 of 13.12.2019 To impose SCL of Rs. 8 per kg on the importation of Wheat Flour for a period of 31 days. 25.12.2019 Gazette Notification No. 2155/12 of 24.12.2019 To decrease SCL on the importation of Potatoes to Rs. 25 per kg from Rs. 50 per kg for a period of 31 days. Finance Act, No. 35 of 2018 Carbon Tax 01.01.2019 To impose Carbon Tax on motor vehicles as follows:
Age of the Vehicle/Rate Category of the vehicle Less than 5 years 5 to 10 years Over 10 years Hybrid (Petrol/Diesel) 25 cents per cm3 50 cents per cm3 Rs.1.00 per cm3 Fuel (Petrol/Diesel) 50 cents per cm3 Rs.1.00 per cm3 Rs.1.50 per cm3 Passenger Bus Rs. 1,000 Rs. 2,000 Rs. 3,000
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Box 3.1 | Major Fiscal Measures: January – December 2019 contd... Effective Measures Date 01.12.2019 To remove Carbon Tax. Cellular Tower Levy 01.01.2019 To impose the Cellular Tower Levy on mobile telephone operators at a rate of Rs. 200,000 per annum per tower. Levy on Mobile Short Message Services 01.01.2019 To imposed on bulk advertisements sent through mobile short message services at a rate of 25 cents per each mobile short message. Luxury Tax on Motor Vehicles Chapter 03 Chapter 06.03.2019 Gazette Notification No. 2113/11 of 05.03.2019 To impose luxury tax on motor vehicles as follows:
Type of Vehicle Engine Capacity Luxury Tax Free Threshold Rate (a) Diesel x > 2,300 cm3 Rs. 3.5 million 120 percent Petrol x > 1,800 cm³ Rs. 3.5 million 100 percent Hybrid Diesel x > 2,300 cm³ Rs. 4.0 million 90 percent Hybrid Petrol x > 1,800 cm³ Rs. 4.0 million 80 percent Electric x > 200 kw Rs. 6.0 million 60 percent (a) Applicable on the amount exceeding the luxury tax free threshold and the engine capacity 07.03.2019 Gazette Notification No. 2113/46 of 07.03.2019 To amend the Gazette Notification No. 2113/11 of 05.03.2019. 09.04.2019 Gazette Notification No. 2118/24 of 09.04.2019 To amend the Gazette Notification No. 2113/11 of 05.03.2019. 01.11.2019 Gazette Notification No. 2147/72 of 31.10.2019 To remove the applicability of engine capacity for the luxury tax on motor vehicles. 14.12.2019 Gazette Notification No. 2153/29 of 14.12.2019 To amend the Gazette Notification No. 2147/72 of 31.10.2019. Finance Act, No. 11 of 2004 International Telecommunications Operators Levy 14.05.2019 Gazette Notification No. 2123/19 of 14.05.2019 To revise rates of levy payable on Incoming International Calls and Incoming International Calls on Specific Telephone Numbers (STN) charge. To revise rate of disbursement of levy as Incoming Local, Access Charge (ILAC) and Levy as Telecommunications Development Charge (TDC). To revise rate of levy payable on Out Going Local Access Charge (OLAC). Finance Act, No. 25 of 2003 Embarkation Levy 01.04.2019 Gazette Notification No. 2116/62 of 29.03.2019 To increase Embarkation Levy by US dollars 10 to US dollars 60 per passenger for persons leaving Sri Lanka by aircraft or ship. 01.08.2019 Gazette Notification No. 2134/5 of 29.07.2019 To revoke the increase of Embarkation Levy. To charge the previous rate of US dollars 50 per passenger during August 01, 2019 to January 31, 2020. To charge the increased rate of US dollars 60 per passenger with effect from February 01, 2020. Telecommunication Levy Act, No. 21 of 2011 01.12.2019 To reduce Telecommunication Levy to 11.25 percent from 15 percent. Fees and Charges 19.06.2019 To increase passport processing fees as follows:
Previous Fee Revised Fee Category (Rs. per Unit) (Rs. per Unit) Alteration Fee 500 1,000 Processing fee (Urgent basis) 10,000 15,000 for children below 16 years for a period of three years 5,000 7,500 Processing fee (Normal basis) 3,000 3,500 for children below 16 years for a period of three years 2,000 2,500
69 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 03 Chapter
70 04 Government Expenditure MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
4.1. Overview Due to the sudden suspension of Parliament at the end of October 2018, the Appropriation Bill The total Government expenditure, in nominal that was submitted to Parliament in September terms, increased by 8.2 per cent to Rs. 2,915 2018 comprising the estimated expenditure billion in 2019, compared to Rs. 2,693 billion in for the year 2019 could not proceed. As 2018 with the increase of household welfare an alternative arrangement, the Minister of payments, salaries and wages and interest Finance submitted a Vote On Account in payments. Out of the total expenditure, Rs order to obtain authority to withdraw money 2,301 billion was recurrent expenditure and the from the Consolidated Fund to carry on the remainder Rs. 614 billion was for capital and net Government functions without interruption lending expenditure. until an Appropriation Act would be passed by Parliament. The Vote on Account 2019 Government expenditure as a percentage of was prepared comprising the expenditure GDP increased to 19.4 percent in 2019 from 18.7 estimates for the first four months of the year per cent in 2018 mainly due to the increase in 2019. recurrent expenditure. Recurrent expenditure
Chapter 04 Chapter as the percentage of GDP increased to 15.3 Later on 05th February 2019, the Appropriation percent from 14.5 percent in 2018 and capital Bill 2019, amalgamating the budgetary expenditure and net lending declined to provisions of the Vote On Account was 4.1 percent in 2019 from 4.2 percent in 2018. submitted to Parliament. The Bill was enacted Accordingly, expenditure on subsidies and as the Appropriation Act, No. 06 of 2019 with transfers increased by 0.4 percentage points amendments to the same. Only for the second to 3.7 percent of GDP in 2019 from 3.3 percent time in the history of Sri Lanka Parliament, at from 2018 while expenditure on salaries and the third reading of the debate expenditure wages increased to 4.6 percent in 2019 from heads were defeated. This time the defeated 4.4 percent in 2018. The interest payments expenditure heads included 31 Expenditure as a percentage of GDP increased to 6.0 per Heads i.e. all the Provincial Councils, 20 District cent of GDP in 2019 from 5.9 per cent in 2018. Secretaries and 02 Heads coming under the Meanwhile, expenditure on goods and services Ministry of Megapolis and Western Development increased to 1.1 percent of GDP. Although there were defeated on 29th March 2019 making zero were the accounted figure of Rs. 2,915 billion, expenditure estimates for the said Expenditure Rs. 367 billion remained unpaid and unrecorded Heads. Excluding those Expenditure Heads, the in 2019 thereby total government expenditure sum of Rs. 4,358 billion was appropriated among in 2019 would be Rs. 3,282 billion. 258 Expenditure Heads by the Appropriation Act for the government expenditure for the 4.2. Appropriation Act for 2019 and year 2019 which includes Rs. 2,207 billion for Vote on Account 2019 Recurrent Expenditure, Rs. 845 billion for capital expenditure, Rs.1,300 billion for Public Conventionally, the Appropriation Act for a year debt amortization and Rs. 6 billion for Advance is approved by Parliament at the end of the Account activities. The Appropriation Act previous year. Instead, the Appropriation Act contains three Schedules namely First, Second for the year 2019 was approved by Parliament and Third Schedule. Table 4.1. Illustrates a on 05th April 2019 as the Appropriation Act, summary of those schedules. The Government No. 06 of 2019 after the Appropriation Bill was borrowing limit for 2019, stipulated by Section submitted to Parliament on 05th February 2019 2 (1) (b) of the Appropriation Act, was Rs. 2,079 (first reading). billion, a 9.7 percent increase, compared to the borrowing limit of Rs. 1,894 billion in 2018. Table 4.1 | Schedule of the Appropriation Act in 2019 Schedule Description Amount First Schedule Expenditure of General Service of the Government by programme Rs. 2,120 billion Second Schedule Expenditure of the Government, authorized by law and to be charged on the Consolidated Fund. Rs. 2,232 billion Third Schedule Expenditure related to Advance Account Activities. Rs. 6 billion Total Government Expenditure Rs. 4,358 billion Sources : Department of State Accounts and National Budget
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4.3. Supplementary Estimates 4.3.2. Supplementary Estimate of Ministry of Highways & Road 2019 recorded the highest number of Development Supplementary Estimates approved by Parliament for the last two decades. During the Following the tendency of the previous two period concerned, 32 supplementary estimates years, the Minister of Highways and Road were passed by Parliament. Development submitted a Supplementary Estimate of Rs. 65 billion in 2019 to Parliament 4.3.1. Supplementary Estimates for the settlement of the bills of foreign-funded submitted for the Ministry of Internal projects, payment of mobilization advances and and Home Affairs and Provincials and repayment of loan instalments of local loans. Local Government and the Ministry of This supplementary estimate was submitted Megapolis and Western Development and approved in Parliament on 20th June 2019.
Subsequent to the defeat of 31 Expenditure 4.3.3. Special Law Warrants as Heads coming under the above two Ministries Supplementary Allocations on 29th March 2019 in Parliament, the Chapter 04 Chapter Government submitted 31 supplementary The Minister of Finance is empowered by the estimates amounting to Rs. 287.9 billion on 05th Constitution to issue special law warrants April 2019, immediately after the Appropriation authorizing the withdrawal of money from Act was passed by Parliament, in order to the Consolidated Fund in order to incur the obtain budgetary provisions for the defeated expenditure of the Government that have Expenditure Heads. been recognized as Special Law Services in the Schedule 2 of the Appropriation Act. Six (6) such Special Law Warrants worth of Rs. 23.2 billion have been issued by the Minister of Finance in 2019 in order to fulfil additional fund requirements for the purposes mentioned in Table 4.2. Table 4.2 | Issued Special Law Warrants in 2019 Authority Expenditure Purpose /Objective Amount (Rs.) No Head No. Institution To pay increased salary and allowances of the Office of the Parliamentary 122 Parliamentary Commissioner for Administration, 1,320,000 Commissioner for Administration approved by the Parliamentary Resolution Commission to Investigate To pay increased salaries and allowances of the 210 1,240,000 Allegations of Bribery or Corruption members of the Commission To meet the shortfall of provisions allocated on 3 253 Department of Pension pension for Widows, Widowers and Orphans of 2,500,000,000 public officers To meet the shortfall of provisions allocated on 4 249 Department of Treasury Operations 20,530,000,000 debt servicing Contribution fee for Asian Infrastructure 5 239 Department of External Resources Investment Bank 2015 to 2019 as per the AIB 160,600,000 Circular 7/2016 To pay retirement benefits for the former 6 1 His Excellency the President 146,250 President His Excellency Maithripala Sirisena Source : Department of National Budget
4.4. Revised Budget for 2019
The Budget approved by Parliament usually get Consequently, the Budget 2019 was revised revised with the approval of Supplementary and the manner of which such revisions are Estimates by Parliament or with the issuance of made is illustrated by Table 4.3. special law warrants by the Minister of finance.
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Table 4.3 | Total Budgetary Allocations Applicable for 2019 Capital /Debt Authority Source Recurrent (Rs.) Total (Rs.) Amortization (Rs.) Appropriation Act 1st Schedule 1,275,774,158,000 844,286,842,000 2,120,061,000,000 Appropriation Act 2nd Schedule 931,140,000,000 1,300,860,000,000 2,232,000,000,000 Appropriation Act 3rd Schedule - - 6,000,000,000 Supplementary Estimates approved by Parliament 205,390,000,000 147,549,000,000 352,939,000,000 Special Law Warrants issued by the Minister of Finance 23,032,706,250 160,600,000 23,193,306,250 Total 2,435,336,864,250 2,292,856,442,000 4,734,193,306,250 Source : Department of National Budget
4.5. Budgetary Performance
The total expenditure incurred by the provisions within the total expenditure limit Government was Rs. 2,915 billion, an 8.2 percent approved by Parliament under the Virement Chapter 04 Chapter or Rs. 222 billion increase, compared to Rs. 2,693 procedure mentioned in Financial Regulation billion in 2018. The actual expenditure fell by Rs No. 66 and 69 (FR 66 &FR 69). In the year 2019, 126.7 billion in comparison with the estimated National Budget Department has granted expenditure. Accordingly, the utilization ratio of approval for 1,624 of such transfers applications the provisions increased in the year up to 95.8 to a value amounting to Rs. 62,778 million. percent while the ratio recorded in 2018 stood at 92.8 percent. Meanwhile, the utilization 4.7.2. Reallocation of Provisions under of capital expenditure of the Government the Project “Supplementary Support increased marginally from 82.1 percent in Services and Contingent Liabilities” 2018 to 83.5 percent in 2019. However, the recurrent expenditure, which is more of non Routinely, Supplementary Support Services - discretionary nature, increased marginally and Contingent Liabilities project under the and stood at 99.7 percent, compared to 97.1 Expenditure Head No. 240, is implemented by percent in 2018. In nominal terms, recurrent the Department of National Budget in 2019 in expenditure was Rs. 2,301 billion. order to facilitate the unforeseen, unexpected or urgent additional fund requirements of 4.6. Advance Account Activities spending agencies. The total budgetary allocation provided under this project was Rs. Actual expenditure of the Advance Account 176 billion including Rs. 96 billion for Budget activities was Rs. 26.1 billion, as against the Proposals in 2019 as illustrated in Table 4.4. estimated maximum expenditure of Rs. 27.3 During the year, those allocations were billion. The actual total receipts were Rs. 24.4 distributed among the Spending Agencies in billion, compared to the estimated minimum line with the specific guidelines stipulated in receipts of Rs. 21.4 billion. Accordingly, the printed Estimates of 2019. Periodical reports Advance Account activities were within the pertaining to these reallocations were tabled approved limits of the Appropriation Act, No. 06 in Parliament satisfying the requirement of the of 2019. Activities under the Advance Account Appropriation Act, No. 06 of 2019. Inclusion of included activities of commercial nature and the details of such reallocations in the Annual advances to public servants excluding the Report is a mandatory requirement in terms of property loan. Fiscal Management (Responsibility) Act, No. 03 of 2003. 4.7. Public Expenditure Management
4.7.1. Transfer of Funds
Section 5 of the Appropriation Act allows Institutions to reallocate or transfer the unutilized
74 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 1 – 22 Special Spending Units 1 His Excellency the Personal Emoluments for new recruitments, Procurement 644,221,000 1,092,415,000 President of furniture & office equipment for the National Salaries & Cadre Commission, Expenditure of newly established Non Cabinet Ministry of Public Distribution & Economic Reforms & Non Cabinet Ministry of Special Area Development, Implementation of the Food production & Grama Shakthi programme and Smart Sri Lanka programme, Settle the outstanding bills pertaining to the programmes of Development Initiatives, Coordination & Monotoring, Drug & Kidney Disease prevention, Child protection and Disabled & Elderly Community, Fuel & other services, Rehabilitation/ improvement & acquisition of Capital Assets for the financial year 2018, Fulfill the provision gap due to the establishment of new Presidential Commissions, Procurement of security
related equipment, Increased cost on fuel, Vehicles, plant 04 Chapter & machinery maintenance, Postal & communication and electricity & water, Settle the debit balance in the Imprest Account carried forward from 2014 2 Office of the Prime Implementation of the "Assistance for Coordinating – 100,000,000 Minister Reconciliation Mechanisms" project as per the Budget Proposal 2019 5 Office of the Cabinet of Payment of capital and interest installments for vehicles 13,513,000 3,204,000 Ministers procured under financial leasing method, Provision for personal Emoluments due to filling vacancies, Revision of allowances of legal advisor & translators and revision of posts, Implement the Budget Proposal No. 150 on Interim Allowance of "Rs.2,500/- p.m. for Public Sector Employees " 7 Judicial Service Payment of special allowance to the staff, Payment to 14,815,800 – Commission the Department of Examination pertaining to holding exams, Implement the Budget Proposal No 150 on Interim Allowance of "Rs.2,500/- p.m. for Public Sector Employees " and provision for approved 25% of additional allowance for the staff 8 National Police Grant transferred by UNDP for the project of Catalytic 26,791,000 3,205,000 Commission Support to Peace Building in Sri Lanka, Provisions for fuel, Postal & communication, Provisions due to increase of allowances of the Chairman & Members of the Commission, Payment to the vehicle procured for the Secretary under financial leasing method, Electricity, Water, Rents and local taxes due to the increased building rent of the Commission, Salaries & wages, Other allowances, Vehicle maintenance, Postal & communication and Property loan interest to public servants due to filling vacancies and unforseen increase of expenditure, Utilize the funds received from UNDP for implementation of enhancing outreach of National Police Commission 9 Administrative Appeals Implement the Budget Proposal No 150 on Interim 345,000 – Tribunal Allowance of "Rs.2,500/- p.m. for Public Sector Employees " 10 Commission to Implement the programme of Bribery and Corruption 27,900,000 100,000,000 Investigate Allegations Awareness for the public as per the Budget Proposal – 2019, of Bribery or Corruption Increased personal Emoluments due to new recruitments and increased interim allowance, Provisions for overtime and holiday payments due to the increased overtime hours of the civil officers and payment of overtime for the investigation officers 11 Finance Commission Payment of capital, interest and stamp duty for the vehicle 810,000 890,000 procured for the Secretary under Financial Leasing Method 12 National Education Payment for gratuity, overtime & holiday payments, 1,363,000 – Commission domestic travelling and retirements benefits
75 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 13 Human Rights Settle the bills in hand of the project of Catalytic Support to 8,664,000 7,185,000 Commission of Sri Lanka Peace Building in Sri Lanka, Grant recieved for the project of strengthening the capacity of Human Rights Commission to fulfill its mandate effectively, Payment of the increased amount of annual membership fee to the Asia Pacific Forum for the year 2018, Gratuity to the officers who retired in the 2019, Utilize grant received for the project "Enabling returnees in Killinochchi, Puttalam and Mannar District to Access their Rights", Expenditure of the allowances, fuel, transport and postal & communication for the acting/ attend duties and relevant payment for 08 officers, Reimburse the allowances paid to the Chairperson of Human Right Commission which had been paid to the University of Peradeniya 16 Parliament of Sri Lanka Expenditure of the price giving ceremony conducted by 84,638,000 325,000
Chapter 04 Chapter the Committee on Public Accounts(COPA) of Parliament, Retirements benefits, Interest and capital payment of the vehicle, procured under financial leasing method 17 Office of the Leader of Provision for the personal emoluments, property loan 1,445,800 – the House of Parliament interest to public servants and increased cost on stationery & office requisites 19 Office of the Leader Provision for the personal emoluments, Domestic & 52,604,000 56,164,000 of the Opposition of foreign travelling, Supplies, Maintenance of vehicles, Plant Parliament & machinery, Property loan interest to public servants, Acquisition of official vehicle for the use of the Hon. Leader of the Opposition of Parliament, Payment to the vehicle procured for the Additional Secretary, Private Secretary, two Cordinating Secretaries & Media Devision under financial leasing method, Overtime and holiday payments, Renovation of the official residence of the Chief Opposition Whip of Parliament, Implement the Budget Proposal No 150 on Interim Allowance of "Rs.2,500/- p.m. for Public Sector Employees " 20 Election Commission Payment of personal emoluments for newly recruitted Office 16,500,000 – Assistants 21 National Audit Office Settlement of the outstanding bills on purchasing of 20 nos. 12,128,000 4,900,000 of computers and 10 nos. of photocopy machines, Payment of overtime & incentive scheme, Domestic travelling and write off irrecoverable loan balances from Advance "B" account 22 Office of the Payment of salaries and wages, Overtime, Domestic 2,335,000 – Parliamentary travelling , diets & uniforms and property loan interest to Commissioner for public servants and fuel supplies Administration 24 National Procurement Payment of capital, interest and stamp duty for the vehicle 5,187,000 1,541,000 Commission procured to the Secretary General under financial leasing method, Salaries and wages due to new recruitments and Implement the Budget Proposal No 150 on Interim Allowance of "Rs.2,500/- p.m. for Public Sector Employees " 52 Non Cabinet Ministry Provision for Shilpa Sena Exposition – Sri Lanka Technology 33,571,000 128,030,000 of Science, Technology Revolution Programme, Implementation of the project of and Research "Science at Work" creating global benchmark yeilds in paddy and minor crops & Developing Aversive Geofencing Devices for managing elephant movement, Rental for vehicles procured under operational leasing method, Liabilities including General Audit fee of National Research Council for the period of 2014–2017, Personal emoluments of the National Science Foundation, Implement the Budget Proposal No. 150 on Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees
76 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 299 National Intellectual Implement the Project of Interim Allowance of Rs.2,500/- 293,000 – Property Office of Sri p.m. for Public Sector Employees as per the Budget Lanka Proposal 2019 53 Non Cabinet Ministry of Reimbursement of losses incured by the supermarkets 208,030,000 200,000,000 Economic Reforms and engaged in the Government Budget Pack Programme, Public Distribution implement the Budget Proposal No. 117 – " Set up 300 Base Stations for "Suwasariya" Ambulance Service", Payment of rents and local taxes 252 Department of Census Provision for the project of Pilot Study on Implementation 13,330,000 43,748,000 and Statistics of 19th ICSL International Conference of Labour Satisfaction, Settlement of outstanding bills pertaining to the acquisition of plant, machinery and equipment for the financial year 2017 & 2018, Utilize the grant received from UNFPA on Awareness Programmes for field staff related to the Census of Population and Housing – 2021 and to meet the expenses
of household income and expenditure survey- inclusion of 04 Chapter module to measure child poverty, Provisions for property loan interest to public servants due to increment of number of officers, Payment for the cleaning & security services, Settlement of the bills of research and development on Mapping Stage of Census of Population & Housing – 2021, Implementing Information and Communication Technology tools to improve data collection and management of National Surveys in Support of the Sustainable Development Goals, Utilize the grant received from UNICEF on Household Survey of Drinking Water Quality Project 300 Department of Food Implementation of the project of Establishment of – 400,000,000 Commissioner Temperature Controlled Warehouse in Dambulla" as per the Budget Proposal 2019 and to settle the balance amount of the total tax contribution of the project 54 Non Cabinet Ministry of Expenditure of the Interior designing works of "Mehewara 10,000,000 100,000,000 Labour and Trade Union Piyasa" building, National Occupational Safty Week 2018 Relations programme 221 Department of Labour Expenditure of construction of "Mehewara Piyasa" office – 746,010,000 complex 55 Non Cabinet Ministry of Expenditure of the State Media Awards – 2018 programme, 33,100,000 2,560,000 Mass Media Project of Right to Information and Enhancing Right in Conflict-Affected Areas among Marginalized Communities, Payment of the vehicle procured for the use of Additional Secretary under operational leasing method 210 Department of Provision for personal emoluments, Settlement of 40,000,000 14,500,000 Information outstanding bills for the construction of the Cafeteria at the office premises, Provision for the Project of Improvement of Government Film Unit with Modern Equipment, 56 Non Cabinet Ministry Expenditure for the projects of Puja Bhanda to Hindu – 45,000,000 of Special Areas Temples in Plantation Areas, Furnitures and Equipment for Development Plantation School, Construction of 25 Rest Rooms for the Estate Workers 101 Ministry of Settlement of the outstanding bills of the financial year 2018, 29,000,000 370,115,346 Buddhasasana & Installation of new CCTV Camera System, Expenditure for Wayamba Development Provincial/District programme for apprising and for the presentation of Entitlement Certificates of the "Buddhuputh Suraksha" programme, Expenditure on Mihindu Perahera, Implementation of the "Buduputhu Suraksha" Insurance Scheme and to pay the Ports and Airport Development Levy pertaining to the Importation of 4,460 tabs 201 Department of Buddhist Payment of interest and capital installments of vehicles 1,154,000 1,752,000 Affairs procured under financial leasing method
77 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 102 Ministry of Finance and Payment of compensation for the Security Deposit Holders 5,900,000 1,239,400,000 Mass Media of the Golden Key Credit Card Company Ltd, Expenditure of NAPPP project & Financial Sector Modernization project, Initiation of the awareness programme for Establishing Community based "Green Clubs"at divisional secretariats level, Payment of rents since July 2019 for the strengthening PPP Institutional & Legal Frame project office, Increased expenditure of domestic travelling, Stationery and Office Requisites due to new recruitements 239 Department of External Payment of vehicles procured under financial leasing 1,220,000 144,672,000 Resources method, Salaries & Wages, Stationery & office requisites, Fuel, supplies and expenditure incurred for vehicle maintenance of newly appointed Hon.State Minister 240 Department of National Provision for interest & capital installment of the lease rental 51,972,000 5,350,000 Budget for vehicles procured under financial leasing method
Chapter 04 Chapter 241 Department of Public Settlement of the debt repayments of National Water 1,659,200,000 3,602,953,000 Enterprises Supply and Drainage Board, Reimbursement of Dormant Claims of National Saving Bank, Investing in the ATI Bond issued by the HDFC Bank, Payment of stationery and office requisites, Arrears salary payment of former employees of Pugoda Textiles Lanka Limited, Accounting the share insurance of National Development Bank, Commercial Bank and Plantation Cooperation's Accounting the Treasury grant for Foreign Employment Bureau of Sri Lanka, Debt repayments of Coal Power Project, Settlement of SWAP cost on account of NSB's International Bond Insurance of USD 250 million in 2014, Reorientation of Sri Lankan Airlines and reimbursement of expenses of the Lead Manager 243 Department of Implementation of the debt relief for micro finance loans – 700,000,000 Development Finance granted for women in drought affacted districts and Credit Guarantee Scheme 244 Department of Trade Expenditure pertaining to printing of Gazette Notifications, 8,885,000 – and Investment Policy Personal Emoluments, Domestic travelling, Implementation of the Budget Proposal No. 150; Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees 245 Department of Public Provision to the initial work of the e-Government 4,380,200 25,386,800 Finance Procurement Project, Provision for the expenses of interest and capital payment of the vehicle procured under financial leasing method, Implementation of the Budget Proposal No. 150; Interim Allowance of "Rs.2,500/- p.m. for Public Sector Employees " 249 Department of Treasury Provision for interest payments on bank overdraft & other 2,800,322,000 – Operations debt, Accounting the re-imbursement of the additional taxes paid by the BOC pertaining to the sale of vehicles purchased under the financial leasing method 250 Department of State Provision for the appointment of a consultant to initiate 200,000 30,000,000 Account actions of the "Preparation of the Financial Statements of the Democratic Socialist Republic of Sri Lanka on Accrural Basis Accounting System Project" and provision for building maintenance 251 Department of Valuation Purchase machinery and equipment for the new Regional 7,918,000 202,702,000 Office in Galle, Provisions for stationery & office requisites, Rehabilitation/ improvement and acquisition of Capital Assets, Domestic travelling, Compensation under the Act No.43 of 2011 of Revival of Under Performing Enterprises or Unutilized Assets 280 Department of Project Implementation of the Interim Allowance of "Rs.2,500/- p.m. 3,047,000 – Management and for Public Sector Employees " as per the Budget Proposal Monitoring 2019 323 Department of Legal Provision for foreign travelling 500,000 – Affairs
78 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 329 Department of Provision for Salaries & Wages, Overtime & holiday 136,723,000 – Information Technology payments, Other allowances, Fuel supplies, Vehicle Management maintenance and Postal & communication due to new recruitments and ITMIS maintenance 103 Ministry of Defence Procurement of an official vehicle for Secretary, Ministry 2,078,348,000 441,990,000 of Defence and security vehicle for the Hon. Minister of Defence, Payment of outstanding bills on procuring 07 buses, 06 Trucks, 02 Gally Sucker, 01 Water Bowser and 07 Three Weelers, Foreign travelling relevant to investigation,Procurement of essential security items, Settlement of the outstanding bills pertaining to the payment of Defence Service Command and Staff College for the financial year 2018, Completing the liquidation process of Lanka Logistics and Technologies Limited, Implementation of the project of "Revising commando
uniform, good conduct allowance of the armed forces", 04 Chapter Payment of Luxury Tax on the importation of 02 security vehicles for the use of H.E. the President, Payment of the compensation for employees of "Lanka Logistics and Technologies Limited", Provision for the maintenance and rehabilitation & imoprovement of vehicles, Payment of the increased monthly building rental, Provision to incur the expenditure on Annual Graduation Ceremony of Defence Service Command and Staff College, Revising commando uniform, rents & good conduct allowance of the armed forces, Provision for "Ranaviru Mapiya Rakawarana" programme, Provisions for salaries & wages, Overtime & holiday payments, Electricity & water, Property loan interest to public servants, Implementation of the Budget Proposal No. 150; Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees 211 Department of Provision for the payment of Interim Allowance of Rs.2,500/- 17,580,000 – Government Printer p.m. for Public Sector Employees as per the Budget Proposal 2019 222 Sri Lanka Army Settlement of outstanding bills pertaining to the financial 2,898,800,000 255,000,000 year 2018, Implementation of the project of "Vocational Training for Youth in Low Income Families" as per the Budget Proposal 2019, Payment of increment of ration allowances 224 Sri Lanka Air Force Provision for plant & machinary maintenance, Rehabilitation/ 300,000,000 428,100,000 improvement and acquisition of Capital Assets, Procurement of 40 motor cycles & 25 single cabs to cater operational requirements relating to present adverse security situation in the country 225 Department of Police Provision for the payment of combined allowance to Sri 2,302,000,000 4,150,000 Lanka Police, Utilizing the grants given by China for the welfare of disable Police Officers, Expenditure of DNA Testings, Disciplinary Actions and Drug Erradication Programme, Provision for the property loan interest to public servants, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 325 Department of Sri Lanka Settlement of the outstanding bills pertaining to the – 12,170,000 Coast Guard procurement of vehicle (Crane Truck) for the financial year 2018
79 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 104 Ministry of National Provision for establishment of Colombo Vocational Training 184,314,000 7,693,831,000 Policies, Economic Center and Gampaha Technical College, Provision for Affairs, Resettlement & expenses on rents & local taxes and leased vehicle for the Rehabilitation, Northern Advisor appointed to the Ministry, Implementation of the Province Development, programme of Traditional Brick and Motar Type Permanent Vocational Training & Housing for the Conflict Affected Families in Northern & Skills Development and Eastern Province, Implementation of the project of "Toddy Youth Affairs Bottling and Juggary Production", Implementation of the "Investment Assistant Programme in Northern Province " & "Establishment of Office for Reparations ", Supporting Indebted People in Northern and North Central through Credit Cooperative Societies, Establishment of "Palmyrah Fund" as per the Budget Proposal – 2019, Shortfall of provision for the project of Upgrading Katunayake Engineering Technology Institute & University College of Ratmalana, Settlement of outstanding bills pertaining to the Chapter 04 Chapter year 2018, Accounting the grant received for the project of "Comprehensive Reproductive Health Education", Provision for the programme of "print and electronic media coverage - new year development initiatives and Achievements", Settlement of the advance of Rs.50mn released from the Contingencies Fund to incur the expenditure of the Ministry of Project Management Youth Affairs and Southern Development in 2018, Provisions for increased cost of stationery & office requisites, Vehicle maintenance, Postal & communication, Electricity & water, Domestic travelling and other services 237 Department of National Expenditure pertaining to the vehicle maintenance, Capital 2,609,000 1,591,000 Planning and interest installments for the 3 vehicles procured under financial leasing method, Implement the Budget Proposal No. 150 on Interim Allowance of Rs.2,500/- p.m.. for Public Sector Employees 108 Ministry of Postal Shortfall of provision for overtime & holiday payment 550,000 – Services and Muslim incurred on performing urgent and essential additional Religious Affairs duties, Writeing off the amount paid to BMICH to hold the International Conference on Islam and Democraty which was decided cancel later 202 Department of Muslim Settlement of the outstanding bills pertaining to the 7,790,000 – Religiouse and Cultural programms of Uniform Allowances for Dhamma School Affairs Teachers and Dhamma School Text Books for the financial year 2018 308 Department of Posts Payment of capital and interest installment for the vehicle 920,922,000 1,220,000 procured for the Postmaster General, Provision for salary arrears of Postal Services Officers and Sub Postmasters, Provision for overtime & holiday payments incurred on performing urgent and essential additional duties 110 Ministry of Justice & Provision for the Expenditure of the project of Strengthening 53,100,000 15,700,000 Prison Reforms Access to Justice and Victim and Witness Protection in Sri Lanka, Settlement of the outstanding bills pertaining to the year 2018, Shortfall of provision for the domestic & foriegn travelling, Provision for the expenditure of the meeting held on Hosting Commonwealth Law Ministers' – 2019
80 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 228 Courts Administration Provision for stationary and office requisites & transport 204,000,000 497,640,000 services, Settlement of the outstanding bills of expansion of courts in Kilinochchi, Theldeniya, Pugoda, Kantale and complete the projects of relocating courts in Ratnapura & Welimada, Expansion of courts in Kilinochchi, Theldeniya, Pugoda & Kantale in the year 2018, Renovation of the roof of the Galle Courts Complex & the Court Complex in Hulftsdrop, Colombo, Provision for salaries & wages, Transport and property loan interest to public servants due to new recruitments, Implementation of the Budget Proposal No. 150; Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees 229 Department of Attorney Provision for rents & local taxes, Foreign travelling, 194,304,000 281,200,000 General Settlement of the outstanding bills of constructing Head Office building in year 2018, Provision for personal
emoluments, travelling, fuel, postal & communication of the 04 Chapter newely recruited staff, Provision for renovation of official residence of Hon.Atorney General, Accounting the grant for Child Protection Unit from UNICEF, Surplus amount that credited by the Cooperation Branch of the Attorney General's Department 230 Department of Legal Provision for fuel, electricity & water 2,000,000 – Draftsman 231 Department of Debt Provision for personal emoluments, stationery and office 6,370,000 – Conciliation Board requisites, Payment for the increased sitting allowance of the members of the Debt Conciliation Board 232 Department of Prisons Settlement of outstanding bills pertaining to construction 319,100,000 545,480,000 of Pallekele Prison Complex and Jaffna Prison Stage II for the financial year 2018, Provision for the payment of house rental of the prison officers, Implementation of the programmes established two "Kibbutz Style" Farms at Ambepussa and Weerawila, Establish a Training Center for Female Inmates at Dompe as per the Budget Proposals 2019, Provision for domestic travelling due to the increment of combined allowance, Fuel, Diets and uniforms, Renovation of 421 toilets and build 108 new toilets in Prisons 233 Department of Provision for the personal emoluments, Overtime and 5,300,000 – Government Analyst holiday payment, Payments for external analysis based on the amount that credited to the Consolidated Fund 234 Registrar of the Provision for copying fee based on the amount that credited 4,070,000 – Supreme Court to the Consolidated Fund, Payment of translation fee for translating court cases pertaining to implementation of the official languages policy 326 Department of Settlement of the arrears of salaries & retained remuneration 3,272,000 – Community Based of Deputy Commissioner from 15.10.2009 to 07.06.2017 Corrections
81 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 111 Ministry of Health, Settlement of the outstanding bills pertaining to the 16,608,140,000 1,782,000,000 Nutririon and expenditure of medical supplies to the hospital & Indigenous Medicine institutions, Acquision of Capital Assets for the financial year 2018, Implementation of the Strengthen the Non Communicable Disease Surveillance activitiers, Rabies Control Programme, Provision for Home Dialysis Machine and Strengthen Hemo Dialysis Centers with RO Water Plants, Provision for Capacity Building in Palliative – Care as per the Budget Proposal-2019, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019, Paying the balance advance payment of the project of "Improvement of District Hospital Moratuwa" , Provision for the settlement of the bills relating to Medical supplies to State Pharmaceutical Corporation and State Pharmaceutical Manufacturing Corporation, Operational expenditure of the Dr.Neville Chapter 04 Chapter Fernando Teaching Hospital as per the Cabinet Decision dated 10.09.2019 for the months of November & December 2019, Shortfall of provisions for expenditure of increased extra duty allowance of Medical Officers, RMOs & AMOs and increased overtime of Nurses, Para-Medics and PSM, Provision for electricity & water, security, Cleaning and laundry service 220 Department of Ayurveda Settle the outstanding bills pertaining to the project of 66,517,000 22,483,000 "Provide Community Health Facilities through Indigenous Medicine" and Personal emoluments, Domestic travelling and other services for the financial year 2018 112 Ministry of Foreign Provision for the expenditure pertaining to newly appointed 339,860,000 86,179,000 Affairs State Minister's office, "Implementation of Economic Diplomacy Initiatives", Account the grant given by Indian Ocean Rim Association for the cost of the first meeting of the working group on Maritime Safety and Security-2019, Procurement of vehicles for the use of missions in abroad, Shortfall of provision for subscription and contributions fee, Salaries & wages, Rents & local taxes, Foreign travelling & retirements benefits 114 Ministry of Transport & Shortfall of provision for the personal emoluments, overtime & 29,200,000 453,000,000 Civil Aviation holiday payment, Domestic travelling, Postal & communication and rents & local taxes, Acquisition of furniture and office equipment, Augmentation of Bus Fleet, Institutional Development and Capacity Building of Sri Lanka Transport Board, Provision for administrative expenses of of newly appointed Hon. State Minister of Railway Services for the month of December 2019 306 Department of Sri Lanka Provision for the procurement of 30 Nos. of Tank Wagons, – 3,341,338,000 Railways 20 Nos. of Track Wagons, 06 Nos. of DMUs and 10 Nos. of Locomotives, 160 Nos. of Passenger Coaches under Railway Development Project, Accounting the loan for the projects of Rolling Stock to Coastal Line & Installation of Railway Signaling and Telecommunication System for Northern Railway Line, Provision for the payment of freight charges, Provision for Custom duties and insurance premium of procuring one set of DMU and one set of Locomotive, Provision for the payment of Customs Import Duty, Nation Building Tax and Value Added Tax for procuring 3 sets of Diesel Electrical Locomotives 307 Department of Motor Payment of capital, interest and other administration cost 2,731,000 3,932,000 Traffic for the 03 vehicle procured under financial leasing method
82 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 117 Ministry of Highways & Implementation of the "Ran Mawath" Rural Roads Maintenance – 16,050,000,000 Road Development and and Construction Programme as per the Budget Proposal 2019, Petroleum Resources Settlement of the Negotiated compensation to Wakachiku Development Construction Company Limited for the construction of Panadura- Ratnapura Road, Settlement of the bills in hand of the project of Outer Circular Highway – Phase III from Kadawatha to Kerawalapitiya before the expiry of the loan agreement in December 2019 118 Ministry of Agriculture, For paddy purchasing in the Maha Season in 2018/2019, Settlement 3,794,652,000 4,420,132,370 Rural Economic Affairs, of the bills in hand of 2017 related to the rehabilitation of paddy Livestock Development, stores, Implementation of the project of granting loans to Small and Irrigation and Fisheries Mediam Scale Rice Millers, Payment of the compensation for crop & Aquatic Resources damages due to Armyworm attack and settle the outstanding bills of Development year 2018, Continuation works of Gandara and Wellamankara Fishery Harbors, Repairing and procurement of equipement for National
Plant Quarantine Services, Settlement of the bills pertaining to 04 Chapter continuation works of Commercial Breadfruit Production programme, Implementation of pilot project to Monitor Ground Water in 08 Districts in year 2018 , Settlement of the outstanding bills of the Department of Agriculture pertaining to the projects of Introducing an eco-certification programme, Promotion of research on developing high yielding Banana and Pineapple plants at Horana and Makandura Research Centers, Upgrading of testing facilities at the National Plant Quarantine Station and special programme for food security and introducing a Contributory Insurance Scheme to Farmers for the financial year 2018, Payment of mobilization advance and conduct feasibility studies of the Agriculture Sector Modernization Project, Payment of compensations for 2 employees in Hadabima Authority, Promotion of drying technology among the paddy farmers , Utilizing the loan for the project of Agriculture Sector Modernization, Settlement of the outstanding commitment of the Special Programmes for Food Security for the year 2018, Settlement of the advance payments for the programme of Giving fish at a Subsidized Price during Festive Season in 2018, Provision for expenditure on Climate Smart Irrigated Agriculture Project , Consultative Meeting of Regional Experts -SAARC Agriculture Centre, Provision for expenditure of the National Aquaculture Development Authority of Sri Lanka due to increased amount of cadre 281 Department of Agrarian Payment for the interest installment of 20 double cabs 378,211,000 – Development procured under the financial leasing method, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 282 Department of Irrigation Implement the project of "Rehabilitation of Feeder Tanks – 300,000,000 and Giant Tank in Mannar District" as per the Budget Proposal 2019 285 Department of Settlement of the outstanding bills pertaining to 9,893,000 910,153,000 Agriculture implementation of Small Scale Agricultural Research Project & stationery and office requesities for the financial year 2018, Implementation of the project of "Agri Business Supporting Scheme for Farmers" as per the Budget Proposal 2019, Provision for the expenditure on overtime and holiday payment due to increased basic salaries of watchers, Shortfall of provision for the National Seed Production and Purchasing Programme to purchase seed without any delay
83 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 290 Department of Fisheries Settlement of the outstanding bills pertaining to the 53,394,000 428,230,000 and Aquatic Resources financial year 2018, Implementation of the project of "50% Subsidy for improving storage facility and safety standards for multy day boats", Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019, Payment for the VMS software support and updates fees to Visma Consulting A/S, Denmark in order to continue the facilities provided to the fishermen in offshore sea area, Payment for the compensation, Provision for the rescue missions of fishermen in the Indian Ocean as per the Commercial High Court Decision, ayment for the compensation to fishermen for the loss of their boats due to a sudden fire which was occurred in Kalametiya fishery harbour, Provisions for postal & communication
Chapter 04 Chapter 292 Department of Animal Payment for the compensation as perthe order of the 12,766,000 164,000,000 Production and Health Magistrate's court for destroyed layer birds and infected material due to the bird flu-2012, Settlement of the outstanding bills pertaining to the financial year 2018, Settlement of the outstanding payments of stationery & office requisites, fuel, rehabilitation /Improvement of Capital Assets, Settlement of the outstanding payments Livestock Breeding Project 119 Ministry of Power, Expenditure incurred by CEB for the project of " Habarana- 212,550,000 143,300,000 Energy and Business Veyangoda 220KV Transmission Line, Provision for the Development electricity facilities of Sacred Areas, Provision for vehicle maintenance , Provision for the payment of the rents for the proposed office building, Provision for the payment of allowances for the consultants of Hon.Minister, Foreign travelling, Salary arrears and payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 120 Ministry of Women & Implementation of the Dry Zone Development Project 3,404,000 260,103,000 Child Affairs and Dry - Anuradhapura District, Procurement of 05 vehicles Zone Development to transport Juvenile Offenders and Victims, Foreign travelling, Transport, Rents and local taxes, Accounting the financial grant given by UNFPA for Gender Based Violence Programme and the financial grant given by UNDP for the project of Ensuring and Strengthening of Women Development 217 Department of Provision for the payment of Interim Allowance of Rs.2,500/- 4,000,000 – Probation and Child p.m. for Public Sector Employees as per the Budget Care Services Proposal 2019 122 Ministry of Lands and Expenditure of the United Nations Human Settlement 29,200,000 868,155,000 Parliamentary Reforms Programme for surveying of 10,000 land plots, and regularization of 20,000 land titles in the Northern Province, Acquisition of a vehicle for Hon.Deputy Minister, Personal emoluments, Domestic & foreign travelling, Supplies maintenance, Transport, Postal, Electricity services, Rehabilitation/improvement and acquisition of Capital Assets for the Hon.Deputy Minister's office, Essential service facilities of Hon. R.Sampanthan, the leader of the Tamil National Alliance as per the Cabinet Decision on 26.02.2019, Capital and interest payment of acquired lands for Mulathiu Divisional Hospital, Wellampitiya Town Dvelopment and Greater Colombo Flood Preotection Project- Bloemendhal 286 Department of Land Shortfall of provisions for salaries and wages for newly 9,000,000 – Commissioner General recruited 22 officers of "Janapadha Niladhari", Stationery & office requisites and Plant & machinery maintenance 287 Department of Land Provision for the payment of Interim Allowance of Rs.2,500/- 12,060,000 – Title Settlement p.m. for Public Sector Employees as per the Budget Proposal 2019
84 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 288 Department of Surveyor Expenses of the software update of surveying and mapping, 114,050,000 10,000,000 General Purchaseing of satellite photographs and scanning old survey plans, Domestic travelling, Transport, Rents and local taxes, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 327 Department of Land Use Interest and capital payment of the vehicle procured 11,295,000 2,726,000 Policy Planning under financial leasing method, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 123 Ministry of Housing, Settlement of the outstanding bills pertaining to 703,500,000 1,167,600,000 Construction and "construction and rehabilitation of Cultural Centres" & Cultural Affairs "Construction of new houses for low income families" in the year 2018, Implementation of the project of " Improve Sanitary Facilities in Bus Terminals and Railway Stations",
Presidential Cinema Awarding Ceremony 2019, Providing 04 Chapter Sanitary Facilities for Needy People as per the Budget Proposal 2019, Implementation of the programme of Special 'Swashakthi' Human Development, Payment of staff salaries for State Engineering Corporation (SEC) & National Equipment and Machinery Organization (NEMO), Provision for building rents and lease rental for three vehicles procured under operational leasing method, Settlement of the outstanding payment to Lanka Kect (Pvt) Ltd. as per the Supreme Court Decision 206 Department of Cultural Renovation of John De Silva Theatre and Modernization of – 800,000,000 Affairs National Art Gallery as per the Budget Proposal 2019 207 Department of National Provision for salaries and wages due to new recruitments 3,200,000 – Archaeology 208 Department of National Provision for expenditure for salaries & wages, Overtime & 12,600,000 – Museums holiday payments, Rents and local taxes 209 Department of National Provisions for overtime & holiday payments, Fuel, Diets 19,500,000 – Archives and uniforms, Increment of cost of security and cleaning services, Provition for salaries and wages due to new recruitments. Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 309 Department of Buildings Provision for the payment of Interim Allowance of 18,710,000 – Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 124 Ministry of Primary Povision for the Expenditure of Asia – Europe Third Political 83,152,000 366,500,000 Industries and Social Forum, Implementation the projects of Providing Salary Empowerment Subsidy for recruitment of Disability People by Private Entities, Agri Business Supporting Scheme for Farmers & Establishment of Geographical Indications (GI) System for Ceylon Cinnamon to Improve its Quality of Products" as per the Budhet Proposal 2019, Provisions for the project of Agriculture Sector Modernization 331 Department of Payment of salary arrears as per the salary adjustment of the 37,045,000 – Samurdhi Development employees 126 Ministry of Education Implementation of the programme of Continuous 1,514,900,000 200,000,000 Professional Development of Teachers, "Glass of Milk for School Children". Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 212 Department of Provision for the increased expenditure due to the 400,000,000 – Examinations increment of no. of examiners per centre and increment of no. of examinations held during the year
85 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 130 Ministry of Public Provision for drought relief and settle the bills in hand 492,123,000 4,196,152,000 Administration and on Rehabilitation of work of flood affected areas, Disaster Management Implementation of the Project of "Reduction of Landslide Vulnerability by Mitigation Measures", Provision to settle the outstanding bills pertaining to the implementation of Mitigation Projects to Minimize the Impact of Disasters for the financial year 2018 and to Projects for rehabilation the areas affected by floods and landslides in Matara District which were commenced before 31.12.2017, Provision to implement the "Uva Wellassa Physical and Human Resources Development Project", Paymen of compensation for the lands damaged or remain vulnerable due to landslides occurred at Meethotamulla, Construction of temporary business places at Salawa, Provision to implement the "Allocating for Disaster Management Contingency Fund in order to pay compensation for 1070 Chapter 04 Chapter houses, damaged due to flood in Kolonnawa – 2016 and to implement the "National Natural Disaster Insurance Scheme" as per the Budget Proposal 2019, Procurement of Out Boat Motors required to use in emergency rescue operations, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 253 Department of Pensions Payment of capital and interest installment for the vehicle 17,302,376,000 1,400,000 procured under financial leasing method, Provision to implement the project of "Pension Gratuities and Compensation for Public Officers", Revision of Pension as per the Budget Proposal 2019, Welfare programmes to compensate Death & Injured Soldiers, Shortfall of provision due to increase in the monthly pension payment, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 304 Department of Shortfall of provision for foreign & domestic travelling, 17,550,000 28,250,000 Meteorology Increased overtime and holiday payments, provision for salaries & wages due to new recruitments,Payment of Meteorological Equipment 135 Ministry of Plantation Payment of salaries and wages, festival advances of the 13,059,000 505,698,000 Industries JEDB and SLSPC for the first quarter of 2019, Payment of Tea Shakthi Fund to improve the productivity of Tea Small Holders as per the Cabinet Decisions, Payment of subscription and contribution member fee of International Coconut Community for the year 2019, Provision for the expenses of the Taskforce to Monitor the Management of Regional Plantation Companies and conducting awareness programmes to educate estate workers to enhance their capacity to deliver a high quality product by upgrading their life and Shortfall of provisions for salaries & wages, Provision for Overtime & holiday payments, Domestic travelling, Stationery & office requisites, Postal & communication, Project of Smallholder Tea and Rubber Revitalization, Payment of the salaries for the Genaral Manager of Hingurana Sugar Industries Ltd., Payment of the salaries of Kanthale Sugar Industries Ltd., Provision for the expenses for Salaries & wages, Stationery & office requisites, Fuel, Supplies and Vehicle maintenance for newly appointed Hon.State Minister 293 Department of Rubber Provision for the outstanding payments of EPF & ETF of the 42,668,000 – Development workers of Rubber Research Institute from 2006 to 2012, Payment of salaries and wages, Domestic travelling and Rents & local taxes pertaining to the newly appointed 49 Rubber Development Officers, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019
86 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 140 Ministry of Hill Provision for the initial cost to establish New Villages Development 6,500,000 778,359,000 Country New Villages, Authority, Settlement of outstanding bills in 2018- Upgrading Infrastructure Vocational Training Centre in Hatton and Lagging Area Socio- and Community Economic Development and Estate Housing Programme, Development Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019, Infrastructure development of Indian Grant Assisted Housing Programme 149 Ministry of Industry Implementation of the "Nangwamu Lanka" Micro and Small 20,248,000 3,039,742,000 and Commerce, Enterprise Development Programme, Establishment of Industrial Resettlement of Zones-KKS, Manthai East, Paranthan, Kondachi, Kinniya, Protracted Displaced Samanthurai&Trincomalee as per the Budget Proposal 2019, Persons and Co- Settlement of the outstanding bills pertaining to the National operative Development Design Centre, Establishment of a Mega Showroom by Sri Lanka State Trading Corporation for the financial year 2018, Provision
for the expenses pertaining to filling of 09 vacancies of National 04 Chapter Design Centre, Provisions for the project of Task Force on Resettlement of Protracted IDP's in the Northern Province 298 Department of Provision for the payment of Interim Allowance of Rs.2,500/- 21,149,000 – Measurement Units, p.m. for Public Sector Employees as per the Budget Standards and Services Proposal 2019 and expenditure on salaries and wages due to new recruitments 301 Department of Co- Provision for the payment of Interim Allowance of Rs.2,500/- 1,300,000 – oprative Development p.m. for Public Sector Employees as per the Budget Proposal 2019 302 Co-operative Employees Shortfall of provision for increased allowances 848,000 – Commission 155 Ministry of Internal Settlement of custom duty of import goods for the 21,918,000 767,643,000 and Home Affairs and construction of Rural Bridges Project, Repayment of Provincial Councils & unutilized loan of the Flood and Landslide Disaster Response Local Government Project, Disbursement of the balance amount of funds of the Health Sector Development Project, Construction of rural bridges, Provision for the procurement of 100 compactors for the project of Solid Waste Management, Rehabilitation and improvement of Capital Assets, Transport related expenses, Settlement of outstanding bills for the completion and continuationion works of "Ammachchi" programme implemented in 2018, Provision for Rents and local taxes due to settlement of outstanding bills pertaining to year 2018 226 Department of Payment of blank travel documents & ralated deliverables – 68,700,000 Immigration and Emigration 227 Department of Provision for the preprinted cards & related activities, 37,600,000 71,000,000 Registration of Persons Payment of incentive to Grama Niladaries for processing National Identity Card Applications, Provision for increased salaries and wages, Procurement of 250,000 pre-printed ID Cards as per the Cabinet Decision 254 Department of Registrar Shortfall of provision for the stationery and office requisites, 202,900,000 – General personal emoluments, domestic travelling, increased cost of fuel, vehicle maintenance, postal & communication, electricity & water and rents & local taxes, Expenditure on Contractual Services, Registrar Allowances and Incentives due to introduction of "One Day Services", Implement the Project of Interim Allowance of "Rs.2,500/- p.m. for Public Sector Employees " as per the Budget Proposal 2019 255 District Secretariat – Establishment of Community based "Green Clubs" in 02 22,675,000 2,700,000 Colombo Divisional Secretariats in Colombo District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019
87 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 256 District Secretariat – Establishment of Community based "Green Clubs" in 02 – 2,700,000 Gampaha Divisional Secretariats in Gampaha District as per the Budget Proposal 2019 257 District Secretariat – Settlement of outstanding disaster related compensation 15,498,000 31,700,000 Kalutara payment in May 2017, Establish community based "Green Clubs" in 02 Divisional Secretariats of Kalutara, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 258 District Secretariat – Establishment of community based "Green Clubs" in 03 24,000,000 4,050,000 Kandy Divisional Secretariats of Kandy District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019, Payment of Salaries and wages to newly recruited Grama Seva Niladaries 259 District Secretariat – Establish community based "Green Clubs" in 02 Divisional 21,150,000 2,700,000 Chapter 04 Chapter Matale Secretariats of Matale District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 260 District Secretariat – Establishment of community based "Green Clubs" in 03 – 4,050,000 Nuwara Eliya Divisional Secretariats of Nuwara Eliya District as per the Budget Proposal 2019 261 District Secretariat – Establishment of community based "Green Clubs" in one 30,250,000 1,350,000 Galle Divisional Secretariat of Galle District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 262 District Secretariat – Establishment of community based "Green Clubs" in 07 6,380,000 8,100,000 Matara Divisional Secretariats of Matara District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 263 District Secretariat- Establishment of community based "Green Clubs" in one 18,650,000 1,350,000 Hambantota Divisional Secretariat of Hambantota District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 264 District Secretariat – Establishment of community based "Green Clubs" in 05 8,500,000 6,750,000 Jaffna Divisional Secretariats of Jaffna District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019, Shortfall of provision for Domestic travelling and Electricity & water due to increase of combined allowance and increased electricity bills due to installation of new AC & new computers 265 District Secretariat – Establishment of community based "Green Clubs" in a 8,450,000 1,350,000 Mannar Divisional Secretariat of Mannar District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 266 District Secretariat – Establishment of community based "Green Clubs" in 14,300,000 1,350,000 Vavuniya Vengalacheddikulam Divisional Secretariat, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019, Shortfall of provision for salaries & wages due to new recruitments 267 District Secretariat – Establishment of community based "Green Clubs" in one 15,030,000 1,350,000 Mullaitivu Divisional Secretariat of Mullaitivu District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019, Provsion for expenditure on Salaries & wages, Domestic travelling and Transport services due to new recruitments
88 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 268 District Secretariat – Establishment of community based "Green Clubs" in a 10,300,000 1,350,000 Killinochchi Divisional Secretariat of Killinochchi District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019, Payment of travelling expenditure increased by Public Administration Circular 20/2018 and Salaries for new recruits 269 District Secretariat – Establishment of community based "Green Clubs" in 04 28,000,000 5,400,000 Baticaloa Divisional Secretariat of Baticaloa District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019, Shortfall of provision for salaries & wages due to new recruitments 270 District Secretariat – Establishment of community based "Green Clubs" in 03 – 4,050,000 Ampara Divisional Secretariat of Ampara District as per the Budget Proposal 2019
271 District Secretariat – Establishment of Community based "Green Clubs" in 19,950,000 1,350,000 04 Chapter Trincomalee Trincomalee Four Gravets Divisional Secretariat, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019, Provision for increased travelling expenditure and salaries for new recruits 272 District Secretariat – Establishment of community based "Green Clubs" in 05 13,270,000 6,750,000 Kurunegala Divisional Secretariat of Kurunegala District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 273 District Secretariat – Establishment of community based "Green Clubs" in 09 17,500,000 12,150,000 Puttalam Divisional Secretariat of Puttalam District as per the Budget Proposal 2019, Shortfall of provisions for salaries and wages due to new recruitments 274 District Secretariat – Establishment of community based "Green Clubs" in 05 50,100,000 6,750,000 Anuradhapura Divisional Secretariat of Anuradhapura District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019, Shortfall of provision for salaries & wages, Domestic travelling, Fuel and supplies due to new recruitments 275 District Secretariat – Establishment of community based "Green Clubs" in 03 13,845,000 4,050,000 Polonnaruwa Divisional Secretariat of Polonnaruwa District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019, Shortfall of provision for transport services and Property loan interest to public servants 276 District Secretariat – Establishment of community based "Green Clubs" in 02 10,000,000 2,700,000 Badulla Divisional Secretariat of Badulla District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 277 District Secretariat – Establishment of community based "Green Clubs" in one 5,355,000 1,350,000 Monaragala Divisional Secretariat of Monaragala District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 278 District Secretariat – Establishment of community based "Green Clubs" in 02 21,305,000 2,700,000 Ratnapura Divisional Secretariat of Ratnapura District, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 279 District Secretariat – Establishment of community based "Green Clubs" in 03 – 4,050,000 Kegalle Divisional Secretariat of Kegalle District as per the Budget Proposal 2019 312 Western Provincial Disbursement of the balance amount of funds of the Health 1,148,750,000 100,000,000 Council Sector Development Project, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal – 2019
89 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 313 Central Provincial Disbursement of the balance amount of funds of the Health 730,000,000 100,000,000 Council Sector Development Project, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal – 2019 314 Southern Provincial Disbursement of the balance amount of funds of the Health 1,996,500,000 234,000,000 Council Sector Development Project, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal – 2019, Provision for expenditure due to new recruitments to Provincial Public Services, Provision for salaries and wages due to new recruitments, Provision for W & OP payment for the month of October, November and December 2019 315 Northern Provincial Disbursement of the balance amount of funds of the Health 887,500,000 391,820,000 Council Sector Development Project, Provision to complete the activities of the Northern Road Connectivity Project,
Chapter 04 Chapter Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal – 2019, Provision to refund the stamp duty of immovable properties of Local Authorities from January to June of year 2015, Accounting the expenditure of the Jaffna - Killinochchi Water Supply and Sanitation Project, Provision for expenditure due to new recruitments to Provincial Public Services, Provision for salaries and wages due to new recruitments 316 North Western Disbursement of the balance amount of funds of the Health 962,500,000 100,000,000 Provincial Council Sector Development Project, Provision for expenditure due to new recruitments to Provincial Public Services, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal – 2019, Provision for salaries and wages due to new recruitments 317 North Central Provincial Disbursement of the balance amount of funds of the Health 408,000,000 260,200,000 Council Sector Development Project, complete the activities of the Northern Road Connectivity Project and Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal – 2019 318 Uva Provincial Council Disbursement of the balance amount of funds of the Health 1,111,000,000 300,000,000 Sector Development Project, Provision to settle the outstanding bills pertaining to the Regional Development Programmes as at 31.12.2018, Provision for expenditure due to new recruitments to Provincial Public Services, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal- 2019, Provision for salaries and wages due to new recruitments 319 Sabaragamuwa Disbursement of the balance amount of funds of the Health 912,000,000 100,000,000 Provincial Council Sector Development Project, expenditure for the new recruitments for Provincial Public Services, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal – 2019, Provision for salaries and wages due to new recruitments 321 Eastern Provincil Council Disbursement of the balance amount of funds of the Health 1,112,000,000 100,000,000 Sector Development Project, Provision for the expenditure due to new recruitments to Provincial Public Services, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal – 2019, Provision for salaries and wages due to new recruitments
90 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 157 Ministry of National Settlement of outstanding bills pertaining to the financial 55,000,000 1,388,523,000 Integration, Official year 2018, Implementation of the "Reconciliation and Languages, Social Sustainable Livelihood through Various Programmes" & Progress and Hindu "Support for Missing Persons until Establishment of office of Religious Affairs Reparations" as per the Budget Proposals – 2019, Provision for the National Institute of Language Education and Training, Payment of custom duty/taxes for the project of National Languages Equality Advancement 236 Department of Official Provisions for stationery and office requisites, vehicle 5,786,000 – Languages maintenance and postal & communication, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal – 2019 158 Ministry of Public Payment of salaries and wages, Payment of Deepavali 18,500,000 1,674,990,000 Enterprise, Kandiyan Festival Advances of the JEDB and SLSPC, Implementation Heritage and Kandy of the project of Safeguarding and Protecting Hill Country
Development Heritage as per the Budget Proposal – 2019, Settlement 04 Chapter of the outstanding bills pertaining to renovations of the Minister's official residence and Project Committee on Establishing an Authority for Kandiyan Heritage, Implementation of the projects of Kandyan development, Implementation of the project of Development of the Dangolla Stadium and the Pavilion in Kandy, Domestic travelling , Vehicle, plant & machinery maintenance, Postal services, Rents & local taxes and Property loan interest to public servants 159 Ministry of Tourism Development, Wildlife and Christian Religious Affairs 203 Department of Christian Implementation of the project of "Improve Infrastructure – 199,500,000 Religious Affairs Facilities at Madhu Church" as per the Budget Proposal 2019 284 Department of Wildlife Shortfall of provisions for stationery & office requisites, 46,780,000 1,594,000 Conservation Fuel, Vehicle maintenance, Electricity & water, Provision for overtime & holiday payments and diets & uniforms due to previous year outstanding balance, VAT reimbursement to GIZ for Wilpattu National Park and Influence Zone Management Project – Phase I, Reimbursement of the cost of examination related to new recruitments and write off of vehicle damages 294 Department of National Provision for personal emoluments due to new reruitment of 34,450,000 – Zoological Gardens Safari Park- New Zone at Hambantota, Shortfall of provision for overtime & holiday payments due to increase of basic salary, Shortfall of provision for vehicles maintenance, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019 322 Department of National Shortfall of provisions for personal emoluments, Stationery 73,360,000 – Botanic Gardens & office requisites, Fuel, Plant & machinery maintenance, Postal & communication, Domestic travelling, Electricity & water services and Property loan interest to public servants
91 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 160 Ministry of Mahaweli Expenditure of extension of the Mainstreaming Biodiversity & 22,000,000 1,853,623,000 Development and Agrobiodiversity Conservation (GEF) project & project of GEF support Environment to UNCCD 2018 National Reporting Process, Settlement of outstanding bills pertaining to Moragahakanda and Kaluganga Reservoir Project for the financial year 2018, Implementation of the programme of Replanting Mangroves as per the Budget Proposal – 2019, Provision for the expenses related to the 9th Sub Regional Committee meeting of the Asia Pacific Network for Global Research held in Colombo, Accounting the grant received for the project of "Air Quality Assesment for Health and Environmental Policies", Grant to perform functions of "Preparation of Sri Lanka's Third National Communication Report on Climate Change" & Strengthening the Resilience of Smallholders Farmers in the Dry Zone to Climate Varibility & Extreme Events through an Intergrated Approach to Water Management, Provision for increased personal emoluments of Central Environmental Authority, Expenditure of Climate Mitigation Action Support Project Chapter 04 Chapter 283 Department of Forest Utilize for the reforestation in identified land areas, 86,000,000 60,000,000 Conservations to compensate for the released areas from industrial plantations to filling trees, salaries and wages due to recruitement of additional staff, shortfall of provisions for domestic travelling due to the increase in the Combined Allowance 291 Department of Coast Provision for the payment of Interim Allowance of Rs.2,500/- 14,437,000 – Conservation and Coastal p.m. for Public Sector Employees as per the Budget Resource management Proposal 2019, Expenditure on salaries and wages due to new recruitments 162 Ministry of Megapolis Settlement of the outstanding bills pertaining to the Weras Ganga 2,490,000 9,011,540,000 and Western Strom Water Drainage & Environment Improvement Project and Development Town Development Project in Nine Provinces of the financial year 2018, Payment for Urban Regeneration Programme, Relocating process of the squatter families by providing housing units, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019, Expenditure on salaries and wages due to new recruitments, Restoration of Water Quality of Beira Lake, Reconstruction of Jaffna Town Hall, "Sahasara Bus Modernization" Programme & Metro Colombo Solid Waste Management Project as per the Budget Proposals 2019 166 Ministry of City Settlement of the outstanding bills pertaining to the 763,000,000 8,314,815,000 Planning, Water Supply water supply facilities in Kegalle District and Provision for and Higher Education development of townships in Lagging Regions and Provision for Bandarawela Water Supply Scheme and Sri Lanka Institute of Advanced Technological Education of the financial year 2018, Implementation of the project of establishing professorial units at Kuliyapitiya and Rathnapura Hospitals, Develop a faculty of Allied Health Science at the Ruhunu University and Laboratory facilities of Medical Faculty of Sri Jayawardenapura University, Programme of Township Developments in Kalmunai, Valachchanei, Thalaimannar and Samanthurai as per the Budget Proposal – 2019, Construction of a building complex for the Faculty of Health Care Science at Eastern University, Payment for the personal emoluments for newly recruit staff of Buddhist and Pali University of Sri Lanka, Settlement of the outstanding payments of the contractor of the Ambatale Water Supply System Improvement & Energy Saving Project, Implementation of the development activities of University of Jaffna using the remaining balance of the loan agreed for the project of "Rehabilitation and Reconstructions of Universities in the Tsunami Affected Areas", Salary payments for 6 officers recruited for the Bhiksu University of Sri Lanka, Debt repayment interest of NWS & DB, Purchasing equipment for the project of Establishment of Research & Training Complex at the Faculty of Agriculture, Killinochchi, University of Jaffna
92 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 4.4 | Ministry-wise Summary of Additional Allocation From 01.01.2019 to 31.12.2019 Rs. Head Ministry / Department Purpose Recurrent Capital No. 214 University Grants Settlement of the outstanding bills pertaining to the 451,000,000 230,000,000 Commission public institution of University of Moratuwa & Postgraduate Institute of Medicine for the financial year 2018, Provision for the expenditure of the newly established two faculties of Sabaragamuwa University, Personal emoluments for the new recruitments, Salary arrears due to the salary & revision based on UGC circular 17/2016, Mahapola & Bursary payments due to the increment of 4,522 number of beneficiaries 332 Department of National Implementation of the programme of "Praja Jala Abhiman" 8,310,000 1,500,000,000 Community Water Water Supply Scheme as per the Budget Proposal – 2019, Supply Provisions for salaries & wages, Rents and local taxes, Domestic travelling, Stationery & Office Requisites 176 Ministry of Ports & Settlement of the outstanding bills of 2018 pertaining to the 13,236,000 106,540,000 Shipping and Southern project of Southern Development, Settlement of the due
Development intrest payment of the loan taken for the construction of Sri 04 Chapter Lanka Ports Authority – Sooriyawewa International Cricket Stadium Project, Provision for the payment of Custom duties and other levies on the vehicles imported for the Hambantota Port Development Project 194 Ministry of Construction of Kumar Anandan Swimming Pool – 2,600,000 18,000,000 Telecommunication, Velvettiturai, Shortfall of provision for domestic travelling Foreign Employment due to increased of combined allowances and Sports 219 Department of Sports Implement the project of " Development of Sports – 300,000,000 Development Infrastructure Facilities – Construction of Provincial and District Sports Complexes" as per the Budget Proposal 2019 195 Ministry of Development Settlement of outstanding bills pertaining to providing 165,635,000 2,980,150,000 Strategies & infrastructure facilities for Rojana industrial park in Milleniya International Trade and Establishment of industrial zone in Bingiriya & Weligama and Rent of Sri Lanka Export Development Board in the financial year 2018, Implementation of the National Export Strategy, Support Sri Lankan firms to enter India & China Market, Trade Adjustment programme, Infrastructure facilities for Bingiriya & Wagawatta Industrial Zones, Bogambara Prison Redevelopment Project, "Enterprise Innovation Programme" and "Facilitate establishment of a research facility for tyre testing & development by the private Sector" as per the Budget Proposal 2019, Provision for expenditure pertaining to Hon.Deputy Minister's office, Provision for the payment of legal fee to the case on Countervailing Duty as per the Cabinet Decision, Provision for vehicle maintenance, Lease rentals for vehicle procured under operational leasing, Rents & local taxes due to new recruitments, Provision for the payment of Interim Allowance of Rs.2,500/- p.m. for Public Sector Employees as per the Budget Proposal 2019, Provision for vehicle maintenance of Hon former Deputy Minister 296 Department of Import Provision for the payment of Interim Allowance of Rs.2,500/- 3,371,000 – and Export Control p.m. for Public Sector Employees as per the Budget Proposal 2019, Expenditure on salaries and wages due to new recruitments Total 69,538,916,800 90,234,300,516
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4.7.3. Circulars Issued for Managing subsidies and transfers to public institutions Expenditure including pensions, fertilizers and Samurdhi increased by 16.7 percent to Rs. 551 billion in As a result of the effects of the Easter Sunday 2019. Attacks, the expected revenue significantly fell below the targets. Therefore, during the year, Expenditure on Capital and net lending several special circulars were issued as measures increased by 1.8 percent to Rs. 614 billion in to ensure prudence in public expenditure. As a 2019, compared to Rs. 604 billion in 2018. Public result of tightened expenditure control efforts, investment increased by 1.0 percent to Rs. 631 introduced by the circulars, a significant billion realizing 83.5 percent of the estimated amount of non-priority expenditure could be expenditure in 2019. mitigated. For example, 60 percent of the allocation provided for the purchase of new Table 4.6 | Government Expenditure by Categories furniture and office equipment could be saved. Rs. Million
Expenditure 2019 2019 2017 2018 Table 4.5 | Circulars issued in relation to the Public Category Estimate Provisional Chapter 04 Chapter Expenditure Management Total Expenditure 2,573,056 2,693,228 3,042,000 2,915,291 Circular Number Date Subject Recurrent 1,927,692 2,089,714 2,308,000 2,301,155 Salaries & 588,518 626,045 690,000 686,452 NB/9/2019 31.12.2019 Vote on Account 2020 Wages Preparation of Financial NB/8/2019 18.12.2019 Statements for the year 2019 Goods & 145,972 138,855 159,000 161,826 Services Management of Public NB/7/2019 04.12.2019 Expenditure and maintenance Interest 735,566 852,190 913,000 901,352 of Financial Discipline Subsidies & 457,636 472,624 546,000 551,524 Approval Procedure of FR Transfers transfers and Supplementary Budgetary requests Capital and net 645,364 603,514 734,000 614,136 NB/6/2019 28.09.2019 through Integrated Treasury Management Information lending System (ITMIS) Public 657,386 624,969 756,000 631,235 Managing the Public NB/5/2019 24.09.2019 Expenditure during the Investments remaining period of 2019 Other (12,022) (21,455) (22,000) (17,099) Strengthening the prudence in NB/4/2019 17.06.2019 Public Expenditure – 2019 As a % of GDP Expenditure 19.3 18.7 19.5 19.4 NB/3/2019 08.04.2019 Authorization of Expenditure – 2019 Budget Recurrent 14.5 14.5 14.8 15.3 Expenditure Collecting data and information relevant to the Gender Interest 5.5 5.9 5.9 6.0 NB/2/2019 08.04.2019 based budgeting and the establishment of “Gender Focal Expenditure Point” in each Ministry Capital & Net 4.8 4.2 4.7 4.1 Preparation of Annual Financial Lending NB/1/2019 25.01.2019 Statements including the Appropriation Accounts for O/w Public Investments 4.9 4.4 4.8 4.2 2018 Source: Department of Fiscal Policy Source : Department of National Budget
4.8. Composition Of Government Expenditure 4.8.1. Salaries and Wages
Under Recurrent Expenditure, interest The expenditure on salaries and wages for expenditure accounted for 39.2 percent or Rs. public servants including those in the Provincial 901 billion, a 30.9 percent of total expenditure. Councils, Armed Forces and Police in 2019 Expenditure on salaries and wages was 29.8 was Rs. 686,452 million, an increase of 9.6 percent of the recurrent expenditure and, it percent from Rs. 626,045 million in 2018. This stood at Rs 686 billion in nominal terms. The
94 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 significant growth reflects the implementation recruitment of 20,000 graduate trainees during of progressive salary increase as per Public the year. Administration Circular No. 3/2016 and the
Table 4.7 | Expenditure on Salaries and Wages Rs. Million 2019 Sector 2014 2015 2016 2017 2018 Provisional Central Government 133,584 172,491 184,856 197,914 212,481 240,329 Provincial Councils * 121,789 150,796 143,740 149,715 162,086 179,971 Defence 141,138 176,810 180,829 180,998 189,055 189,508 Police and Public Security 44,471 61,633 61,336 59,891 62,423 76,644 Total 440,982 561,730 570,761 588,518 626,045 686,452 Source : Department of National Budget (* Includes only the expenditure of government transfers) capital expenditure from the Annual Budget. Pensions Accordingly, the Central Government has transferred Rs. 218,753 million of which Rs. The total pension payment in 2019 was Rs. 199,968 million for the recurrent expenditure and 04 Chapter 227,670 million, an increase of 17 percent from Rs. 18,785 million for the capital expenditure in Rs. 194,488 million in 2018. This increase was 2019 to cover the expenditure incurred by the mainly due to the pension revision introduced Provincial Councils for the services delivered at to rectify the anomaly between the two provincial and local levels. groups of pensioners i.e. those who retired prior to the implementation of the progressive Table 4.8 | Transfers to Provinces in 2019 salary increase under Public Administration Rs. Million Circular 03/2016 and those who retired after the said salary revision. Accordingly, as per Transfers 2019 (Provisional) the Public Administration Circular No. 14/2019 Provincial Council Recurrent Capital effective from July 2019, pension of all public officers, who retired on or before 01.01.2017, Western 17,849 964 was revised based on the salary entitled as at Central 29,730 1,523 01.01.2017. Further, a policy decision was taken Southern 25,197 1,613 to pay the gratuities through Consolidated Fund from 2019 onwards after concluding the Northern 21,438 2,299 Gratuity Payment Scheme by banks reverting North Western 25,213 1,578 to the system which prevailed before 2012. North Central 16,708 1,812 In addition, the total number of pensioners Uva 19,011 2,239 increased from 619,176 in 2018 to 639,984 in 2019. Moreover, the expenditure on the injured Sabaragamuwa 23,212 1,718 and deceased security personnel, increased Eastern 21,612 1,984 by 11 percent to Rs. 33,637 million in 2019 from Projects implemented by Rs. 30,359 million in 2018, as per the policy the Ministry in Charge of the - 3,055 decision taken to pay 100 percent of the last subject of Provincial Councils drawn salary with all the allowances even after Total 199,970 18,785 their retirement. Source : Department of National Budget
4.8.2. Fiscal Decentralization 4.9. Sectoral Classification of Government Expenditure As per the thirteenth amendment to the Constitution of the Democratic Socialist 4.9.1. Human Resource Management Republic of Sri Lanka, the Government shall, on the recommendation of and in consultation Investment in Healthcare with the Finance Commission, transfer funds to the Provincial Councils for recurrent and In 2019, Rs. 234,920 million incurred for the
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healthcare services by the Ministry of Health Figure 4.1 | Central Government Expenditure on and the Provincial Councils, of which Rs. Healthcare in 2019 200,919 million for recurrent expenditure and 250 Rs. 34,001 million for capital expenditure. 44 200 54 Rs. 56,391 million was spent on the provision of 58 52 drugs and pharmaceuticals, which is the major 150 46 24
component of recurrent expenditure. It was an Rs. Bn 100 22 increase of 24.6 percent, compared to 2018 19 191 25 170
25 146 137 due to the settlement of outstanding bills of 132
50 114 94 72
the previous years in 2019. The expenditure on 64 53 salaries and wages of Health Sector employees 0 increased from Rs. 75,146 million in 2018 to 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 NaƟonal Provincial Rs. 88,075 million in 2019. Similarly, overtime payment increased significantly from Rs. 21,788 Sri Lanka has achieved a milestone in million to Rs. 27,764 million, an increase of 27.4 elimination of vertical transmission of HIV and
Chapter 04 Chapter percent, compared to that of 2018. congenital syphilis in 2019 which ensured the elimination of mother-to-child transmission of Stringent fiscal control measures imposed HIV and syphilis during pregnancy, childbirth, subsequent to the Easter Sunday attacks or breastfeeding. pushed the Capital Expenditure which saw a decline by 14 percent to Rs. 34,001 million, In 2019, the Kandy Teaching Hospital, the compared to Rs. 39,414 million in 2018. second largest hospital in the country, was However, the infrastructure facilities of the upgraded as the second National Hospital of hospitals strengthened with the completion Sri Lanka. of several projects. District General Hospital in Hambantota, which was expanded with a Curative Health and Preventive Health loan of Rs. 7,000 million from the Netherlands, Expenditure on curative and preventive was equipped with 850-beds, seven operating healthcare activities was Rs. 27,547 million theatres, an accident and emergency room, and Rs. 2,141 million, respectively in 2019. dental care units, cardiology units, medical These activities conducted covering primary, and nursing homes, state-of-the-art medical secondary and tertiary level healthcare equipment and a CT scanner. Further, a institutions to reduce the spreading four-storied accident and emergency unit communicable diseases such as dengue, HIV/ with seven operation theatres and a special AIDS, malaria, tuberculosis, leptospirosis and treatment unit were constructed at the Ragama curbing the occurrence of non-communicable Teaching Hospital at a cost of Rs. 1,400 million. diseases such as cancers, strokes, cardio Moreover, District General Hospital in Nuwara vascular diseases, diabetes etc. Eliya improved in 2019 with a 600-bed ward complex, operation theatres with modern Indigenous Medicine technology, intensive care units, outpatient clinics, pharmacies, dialysis units as well as In addition to the investments in western quarters for doctors and nurses. medicine, Rs. 139 million was invested in Indigenous Medicine during the year 2019. As medicinal plants/ herbs are required for making Ayurvedic pharmaceuticals, the Department of Ayurveda has taken actions to implement herbal plants cultivation projects in Polpithigama, Ravana Ella, Bogollagama and Alawwa. Under the project “Traditional Medical Knowledge Conservation”, 15 Audio-Visual Programs completed and around 1,800 data sheets were computerized in a bid to preserve the knowledge of traditional Ayurvedic doctors.
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Table 4.9 | Major Capital Investment in Curative Healthcare Services Rs. Million 2019 Investment Area 2011 2012 2013 2014 2015 2016 2017 2018 Provisional Hospital Development Projects 3,194 7,775 8,117 11,431 15,429 10,373 10,649 14,654 8,196 Hospital Rehabilitation & Construction 2,051 1,828 2,754 3,403 4,206 3,735 4,814 6,513 6,381 Medical Equipment & Machinery 2,306 1,969 3,880 3,208 5,068 4,093 4,732 4,438 5,481 Beds & Furniture 119 114 127 200 224 325 243 352 346 Total 7,670 11,686 14,878 18,242 24,927 18,526 20,438 25,957 20,404 Sources: Department of National Budget, Department of State Accounts Note: Includes only the Central Government Expenditure Suwaseriya project is not included in 2019
General Education was Rs. 22,149 million, a decrease of 24 percent from Rs. 29,202 million in 2018. However, the Government has continuously placed priority total recurrent expenditure of the MoE and on human resource development by providing PCs increased by 8.6 percent to Rs. 190,443 increased investment for school education; million in 2019 from Rs. 175,411 in 2018, mainly however, due to tight fiscal control measures due to the payment of salary increases as per 04 Chapter imposed subsequent to the Easter Sunday the Public Administration Circular No. 3/2016. attacks caused the total capital investment to Hence, the total expenditure, i.e. both the decline. The Investment made by the central recurrent and capital expenditure, increased government through the Ministry of Education by 3.9 percent in 2019. (MoE) and the Provincial Councils (PCs) in 2019
Table 4.10 | Expenditure on School Education by the Central Government in 2019 Rs. Million 2018 2019 Provisional Recurrent Capital Total Recurrent Capital Total Ministry of Education 49,819 26,219 76,037 60,464 17,599 78,063 Provincial Councils* 125,592 2,983 128,575 129,979 4,550 134,529 Total 175,411 29,202 204,612 190,443 22,149 212,592 *Provisional Sources : Department of State Accounts, Finance Commission
Figure 4.2 | Central Government Expenditure on School at the end of 2019. The students are allowed Education to select vocational subjects as per their interests and abilities irrespective of the results 250 at the G.C.E. (O/L) examinations. Further, the students receive a daily allowance of Rs. 500 200 per student through their respective school, for practical training at the vocational training
150 institutes.
100 The “Nearest School is the Best School” (NSBS) programme which commenced in 2016, to ensure equitable access to quality education 50 minimizing the regional disparities, continued in 2019 and also provided the facilities such as 0 new classroom buildings, laboratories, technical
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 buildings, teachers’ quarters, principal’s NaƟonal Schools Provincial Schools quarters, water and sanitation facilities etc. Ministry of Education with the support of all the “The 13 years of education” programme started 9 Provincial Councils initiated 13,995 projects, in 2017, has further expanded by selecting 115 of which 86.5 percent, or 12,103 projects were schools in 2019 totalling 313 schools that have completed by the end of 2019. From the start vocational subject streams in Advance Level of the programme from 2016 to 2019, Rs. 36,545
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million has been released to the Provincial i. Increase the number of grade 5 scholarship Councils to implement the construction/ holders by 5,000 rehabilitation activities in provincial schools ii. Increase the grade 5 scholarship amount while Rs. 7,040 million provided to all nine from Rs. 500 to Rs. 750 per student, per Provincial Directors of Education to implement month the same activities in national schools. During iii. Increase the number of students (Schools) the year 2019, Rs. 9,056 million was incurred for who receive a glass of milk the NSBS program. Table 4.11 | Major Projects Implemented under the The student welfare programmes were Nearest School is the Best School Program continued to ensure equality and equity in Rs. Million 2019 education by spending Rs 17,126 million 2019, Project which is 47 percent more than the expenditure Provisional in 2018. This significant increase was mainly Providing Electricity Facilities through 57 due to the delays occurred by the Ministry of National Grid or Solar Upgrading Schools in the Plantation Sector 153 Education on providing of school uniforms, tot Secondary Level Chapter 04 Chapter providing of shoes for difficult and very difficult Facilitate Dental Health Facilities in Schools 38 schools and selecting a service a provider Providing Sanitary and Water Facilities for 541 for health insurance scheme which led to all Schools utilize the 2019 allocations for activities that Upgrading Facilities of 3,577 Primary 1,133 had to be completed in 2018. Since these Schools welfare programs are annual programmes, it Providing Facilities of Teacher Quarters, Rest 153 is observed that serious consideration on the Rooms etc. for Rural & Regional Schools part of Ministry of Education is required in the Upgrading facilities of 1,000 Secondary 2,682 future to reduce the financial burden passing Schools on to the annual budget due to the delays. Improve facilities of 1,360 Schools which 4,299 Furthermore, the expenditure increased during were not included in recent projects the year due to the improved benefits to the Sources : Department of State Accounts, Department of National students as mentioned below. Budget
Table 4.12 | Expenditure on major Welfare Programs
Rs. Million
2019 Program 2011 2012 2013 2014 2015 2016 2017 2018 Provisional
School Nutrition Food Program 2,631 2,850 3,076 3,725 3,938 3,916 4,434 5,325 5,063
Text Books 2,294 2,400 2,329 2,700 3,896 5,415 4,281 4,161 4,599
Uniforms 1,364 1,600 1,739 3,574 2,261 2,157 2,479 1,073 3,789
Scholarships – Year 5 * 283 240 268 556 623 613 602 605 607
“Suraksha” Insurance Scheme 2,700 33 1,833
Sources : Ministry of Education and Provincial Councils, Department of State Accounts * included the Grade 5 Scholarships payment of both provincial & National schools from 2014
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Table 4.13 | Students Benefited by major Welfare Programs Programme 2011 2012 2013 2014 2015 2016 2017 2018 2019 Provisional School Nutritional Food 834,306 839,643 1,048,892 890,404 937,178 973,245 1,105,605 1,089,705 1,067,465 Programe Text Books 3,750,000 3,762,000 4,194,363 4,076,813 4,277,668 4,345,491 4,355,101 3,628,951 3,642,528 Uniforms 4,153,000 4,186,000 3,998,890 4,423,202 4,415,099 4,341,581 4,326,951 4357797 4,725,445 Scholarships -Year 5 * 85,000 85,000 97,308 114,458 122,149 140,297 144,739 130,000a 135,000 “Suraksha” Insurance 40,978b 74,328 Scheme * Included the Grade 5 Scholarships beneficiaries of both provincial & National Schools from 2014 onwards (a) Provisional (b) From October 2017 – October 2018 Sources: Ministry of Education, Provincial Councils, Finance Commission and Department of State Accounts The issues of the school education sector are South Eastern University, construction of the multi-faceted and pervasive. Even though both building for Bio System Technology at Eastern the provincial and national schools development University, construction of Laboratory building 04 Chapter happens island wide, the demand for places to introduce Engineering Technology degree in reputed schools is on the rise. Further, the programme at Wayamba University, design quality of teaching cannot be ensured without and construction of building complex for Tissue skilled personnel in schools. As such, the Culture laboratories at the Institute of Agro – Ministry of Education will have to implement Technology and Rural Sciences of the University a continuous professional development plan of Colombo were completed in 2019. for teachers and school administrators, which is yet to be implemented in an appropriate The annual intake for the academic year manner. 2018/2019 is 30,147 and it is still in progress. In order to address the infrastructure demand for Higher Education Technological Faculties, investment had been commenced in 2016. By the end of 2019, the The total government investment for the higher total investment in that regard was Rs. 3,100 education sector for the year 2019 was Rs. million. 77,000 million, out of which Rs. 39,500 million was spent for the payment of salaries and wages Rs. 200 million was invested in 2019 as support of 22,914 staff comprising of academic and non- for the loan scheme which was initiated in academic staff in the higher education sector 2017 to provide opportunities to follow higher (Permanent staff – 19,775 and Temporary staff – education degrees in non-state universities. 3,139). The total capital investment for 2019 was 2,069 students received the opportunity to Rs. 28,800 million and this amount was mainly follow 50 degree courses offered by 10 non- utilized for the construction, rehabilitation and state higher education institutes during the improvement of capital assets, acquisition of year. fixed assets, human capital development and strengthening research. In 2019, Rs. 122.2 million was incurred both to provide Wi-Fi facilities and to cover the interest Provision allocated for the constructions component of the loans obtained by University was mainly utilized for the construction of students to purchase laptops. Through this loan lecture theatres, hostels, libraries, laboratories scheme, 2,083 students purchased laptops and sanitary facilities in the Universities. 28 in 2019. Wi-Fi facilities were provided to Sri construction projects including the Building Pali Campus, Gampaha Wickramaarachchi Complex (ICT) for the Department of Industrial Ayurveda Institute, Management faculty Management of the University of Kelaniya, of Ruhuna University, Eastern University, construction of staff quarters project at Trincomalee Campus, Technology faculties of Sabaragamuwa University, Design, construction Jaffna University and Vavunia Campus. and commissioning of a building complex for the Department of Technology Studies at
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Mahapola and Bursary
Mahapola and Bursary continued with the 500,000 per annum as illustrated in Table 4.14 eligibility household income threshold at Rs. and Table 4.15.
Table 4.14 | Expenditure on Mahapola & Bursaries Year 2013 2014 2015 2016 2017 2018 2019 Provisional No. of Students admitted for University Education 24,198 25,200 25,676 27,603 30,668 31,451 30,550 Financial Assistance to University Students (Rs. Million) Mahapola 94 109 561 940 593 1,304 1,269 Bursary 386 414 481 650 441 521 695 No. of recipients 22,172 23,173 20,929 20,265 20,093 22,450 22,914 Source : University Grants Commission
Chapter 04 Chapter Table 4.15 | No. of Mahapola Beneficiaries Table 4.16: Major projects implemented in 2019 on Academic Year Quota (Number of Students) Skills Development Rs. Million 2015/2016 13,500 Description 2019 2016/2017 15,000 Provisional 2017/2018 15,000 Establishment of Colombo Vocational 1,054 Training Centre and Gampaha Technical 2018/2019 15,000 College Source : Mahapola Trust Fund Skills Sector Development Programme 1,128 Upgrading of Katunayake Engineering 726 Skills Development Technology Institute (Austria) Self-Employment Promotion Initiative 25 The total expenditure on skills development Programme and vocational training was Rs. 10,364 million in Improvement of Vocational Training Activities 19 2019, of which, Rs. 6,409 million was spent on You Lead 19 Establishment of an University College in 18 recurrent expenditure and Rs. 3,955 million for Kinniya capital investment. Source : Department of National Budget
Figure 4.3 | Expenditure on Skills Development Sector, Technology Development 2018 & 2019 (Rs. Million)
7,000 The total expenditure of the Research and 6,409 6,233 Development in science and Technology 6,000 sub sector decreased by 37 percent in 2019, 5,000 compared to the previous year. While the 3,955 4,000 3,553 capital investment in 2019 was Rs. 1,450
3,000 million, the recurrent nature of expenditure in institutions under the Science and Technology 2,000 sub sector was Rs. 1,694 million. In 2019, the 1,000 Government invested Rs. 25 million on Nano - Technology Programme. Expenditure of Rs. 2018 2019 52 million on Vidatha Programme incurred in Recurrent Capital 2019 in the areas including technology transfer, provision of necessary technical and financial assistance, research grants, among others.
Major projects implemented under this sector included Establishment of National Science Centre, Scientific Development Programme, Vidatha Programme, Nano Technology
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Programme, Improving Degraded soil and functions amounting to Rs. 20,315 million Implementation of Research and Development on the repair and maintenance works to the Framework. The expenditure details are rolling stock, improvement and construction illustrated in Table 4.17. of railway network and bridges, procurement of rolling stock, improvement and maintenance Table 4.17 | Major projects implemented in 2019 on of signalling and telecommunication system, Research & Development implementing development works of railway Rs. Million stations such as raising platforms, the extension Description Expenditure of platforms in order to provide easy and Establishment of National Science Centre 100 efficient service for the passenger and freight Scientific Development Programme 64 transport In 2019. Vidatha Programme 52 Nanotechnology Programme 25 Table 4.18 |Major Expenditure on Railway Development Improving Degraded Soil 5 Projects in 2019 Implementation of R&D Investment Framework 3 Rs. Million Source : Department of National Budget 2019 Project Name 2018 Actual Provisional 4.9.2. Transport Major repairs to rolling stock 4,052 4,509 04 Chapter Rebilitation of permanent way 2,410 3,371 Ministries involved in the transport sector with new rails & sleepers included Highways & Road Development and Railway Development Project 862 9,642 Petroleum Resources Development, Megapolis Total 7,324 17,522 Source : Department of National Budget and Western Development, National Policies and Economic Affairs, Ports, Shipping and Bus Transport Transport and Civil Aviation Services. In November 2019, subsequent to the Presidential The total investment in bus transport stood at Election, the Ministerial portfolios underwent Rs. 16,062 million in 2019, of which, Rs.13,277 a significant change whereby subjects and million was spent on recurrent expenditure functions related to this sector were gazetted including the subsidy for the school and higher under Ministries of Highways and Road education season tickets, operating Sri Lanka Development, Urban Development, Water Transport Board (SLTB) buses on unremunerated Supply and Housing Facilities, Ports & Shipping, routes in rural areas, the contribution for Transport Services Management. Expenditure ‘socially obligated bus services’ and Armed for this sector includes the investment in the Forces bus passes. The Government also development of road network and the public spent Rs. 2,785 million as capital expenditure transport on land i.e. railway and buses and the on the bus transport sector in 2019 for the transport by sea and air. augmentation of the bus fleet, institutional Passenger Transport development of SLTB and lease payment for the purchase of 2,200 buses. Railways Table 4.19 | Major expenditures on Bus Transport in In 2019, the Government incurred Rs. 35,685 2019 million on the railway sector, of which Rs. Rs. Million Description 2019 15,301 million for recurrent expenditure and Provisional Rs. 20,384 million for capital expenditure. Season Tickets,Bus Passses and 11,212 Recurrent expenditure increased at a rate Unremunerative Routes of 6.4 percent while the capital expenditure Contribution of Socially obligatory Bus 582 increased by 0.9 percent in comparison with Service' 2018. “New Railway line from Matara to Beliatta” Bus Fleet Augmentation, Institutional 1,650 Developnment and Capacity Building was one of the major projects for which Rs. Total 13,444 2,724 million was spent in 2019 while Rs. 1,215 Source : Department of National Budget million was spent on “Colombo Suburban Railway Efficiency Improvement Project”. Sri Lanka Railways (SLR) continued its normal
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Ports facilities of JICA and the total investment for the year 2019 is Rs. 1,624 million. Investment in ports included the introduction of an automated system of issuing Certification Road Development of Competencies and Seafarer Continuous Discharge Certificate, Improvement of Port and Road Development encompassed Nautical activities of Trincomalee Port and Rs. constructions of expressways, construction of 22.5 million and Rs. 178.8 million were spent bridges, widening and improvement of roads respectively. The interest payments of the and road maintenance. In 2019, construction loan acquired by the Sri Lanka Port Authority for of the Extension of Southern Expressway the Sooriyawewa International Cricket Stadium proceeded and Rs. 36,943 million was spent in were also included in the expenditure in 2019. that regard. Outer Circular Expressway Section III (OCH III – Kadawatha to Kerawalapitiya) was Table 4.20 | Investment in Ports – 2019 opened to the public in October 2019 and Rs. Million Rs.15,397 million was spent for this purpose. 2019 Integrated Road Development Project (I-Road) Ports & Shipping Chapter 04 Chapter Provisional which includes the development of rural roads Capital Expenditure 904 and connectivity improvement continued with Recurrent Expenditure 783 the financial support of the Asian Development Total 1,687 Bank. In 2019, the I-Road project expanded Source : Department of National Budget to Northern and Western Provinces as well following its expansion time table. 2019 Initiatives aimed at ensuring the expenditure for the project was Rs.11,514 million. efficiency of public transport One of the major bridges under construction is the New Kelani Bridge (NKB) which targets to A total sum of Rs. 1,570 million was invested in ease the congestion at Peliyagoda. Rs. 8,525 transport development under Greater Colombo million was spent in that respect. Investment Urban Transport Development project and on Expressways accounted for Rs.55,488 improving road infrastructure in Homagama million in total which is almost 35% of the Tech City as well as improving bus service to total investment of Rs.156,843 million on road promote public transport. Light Rail Transit development. Expenditure on major projects System project continued with the foreign loan in road development is illustrated in Table 4.21. Table 4.21 | Major Road Development Projects in 2019 Rs. Million Project Name 2018 Actual 2019 Provisional Expressways Central Expressway 7,907 2,874 Extension of Southern Expressway 52,709 36,943 Outer Circular Highway III (Kadawatha- Kerawalapitiya) 17,385 15,397 Port Access Elevated Highway 32 109 Sub Total 78,033 55,323 Highways Integrated Road Investment Project 16,559 11,514 Southern Road Connectivity Project 2,829 1,431 Priority Road Project (PRP 3) Phase 1 3,465 2,528 Priority Road Project (PRP 3) Phase 2 4,470 3,027 Rehabilitation of Badulla Chankalady Road 1,765 1,189 Colombo District Road Development Project (OFID) 1,661 1,137 Sub Total 30,749 20,826 Widening and Improvement 10,865 7,559 Sub Total 10,865 7,559 Bridges and flyovers Major Bridges Construction Project 2,247 2,212 New Kelani Bridge Project 9,160 8,525 Sub Total 11,407 10,737 Grand Total 131,054 94,445 Source : Department of National Budget
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4.9.3. Social Welfare and Social at a subsidized rate. During the year, several Security projects and programmes were continued to boost agriculture production through Government expenditure on social welfare and improving agriculture extension, production of social security was Rs. 472,479 million in 2019 seeds and planting materials as well as research targeting the vulnerable people and the needy and development. Rs. 2,570 million was spent people of the society. The Government welfare for the implementation of the Agriculture expenditure increased by 18 percent in 2019, Modernization Project and Smallholder compared to 2018. This significant increase Agribusiness Partnership Programme to was due to the increase in beneficiaries by improve the productivity, commercialization, 600,000 in Samurdhi programme, the increase value addition and market access for selected of differently-abled allowance eligible persons crops. A contributory insurance scheme to from 32,000 to 72,000 and Chronic Kidney reduce the risk of farmers in respect of crop Disease of Unknown (CKDu) patients from damages due to natural disasters, which was 21,000 to 25,000. introduced in 2018, continued during 2019 for selected crops to the tune of Rs. 1,988 million.
With a view of broadening welfare safety net 04 Chapter for the vulnerable segments of the society, Plantation Government took a decision to provide assistance for the eligible persons who were The Government investment in plantation in the waiting list for a long period under the industry continued in 2019 and Rs. 6,662 above welfare programmes which has resulted million was spent covering the promotion of in to increase Samurdhi relief expenditure cultivation of Tea, Rubber, Coconut and other by 5,421 million in 2019, compared to 2018. export crops through improving extension Further, disable allowance increased from 1,148 services, producing planting materials and million in 2018 up to 2,810 million in 2019. distributing those at a subsidized rate, value addition of these crops, improving market 4.9.4. Agriculture access, and providing financial assistance for replanting and new planting etc. With regard Total government investment for the entire to the financial assistance for replanting and Agriculture Sector, which consists of food new planting of tea and rubber amounted crops, plantation industry, fisheries, livestock to Rs. 629 million and Rs. 564 million, and land development, was Rs. 61,055 million respectively. To promote the coconut industry, in 2019. Distribution of the investment among Rs. 568 million was spent for the production the said sub-sectors of the Agriculture Sector of planting materials and distributing them at is detailed in Table 4.22. a subsidized rate, improvement of extension by introduction of a mobile App and providing Table 4.22 | Expenditure on Agriculture Sector in 2019 subsidies for coconut land rehabilitation and Rs. Million providing irrigation facilities for coconut lands. Description 2019 The Department of Export Agriculture incurred Provisional Rs. 408 million in 2019 for the production and Food Crops 44,324 quality improvements of perennial export Plantation Industry 6,662 agricultural crops such as Cinnamon, Pepper, Livestock Development 3,538 Cardamom, Clove, Nutmeg, Coffee, Cocoa, Fisheries and Aquatic Resources 2,595 Vanilla, Betel, Citronella, Lemongrass, Ginger, Land and Land Development 3,936 Grand Total 61,055 Turmeric, Goraka and Areca-nuts. Source : Department of National Budget Fisheries Food Crops The total investment for the fisheries and aquatic The Government investment of Rs. 44,324 resources in 2019 was Rs. 2,595 million, of which, million on food crops includes the expenditure Rs. 1,067 million was spent for rehabilitation on fertilizer subsidy of Rs. 34,966 million. In 2019, and improvement of fishery harbours and fertilizer subsidy was provided for all crops anchorages to improve infrastructure facilities
103 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
to the marine fisheries sector. Further, around 4.9.6. Housing and Common Amenities Rs. 750 million was spent in 2019 for the development of inland fisheries sector specially Housing Development through the implementation of projects on the cleaning of 10 lagoons, fish breeding, stocking Facilitation of housing is one of the key of fish fingerlings in freshwater bodies, priority sectors of government expenditure. development of Aquaculture park and “Wawak Total capital investment for the facilitation of Sahitha Gamak programme”. housing needs increased by 27 percent to Rs. 11,275 million in 2019 from Rs. 8,857 million in Livestock 2018. Out of which, Rs. 8,000 million was spent on the construction of new houses for low- Considering the importance of the livestock income families including Rural, Urban, “Viru sector both as a means of ensuring food Sumithuru” which is for armed forces and CKDu security and as a source of livelihood support, affected people in 2019. priority has continuously been given for the development of the livestock sector. The total Construction of 32,228 housing units
Chapter 04 Chapter investment in this sector was Rs. 3,538 million, commenced under the theme “Shelter for of which Rs. 1,714 million spent to continue the All” in 2019. In addition, loan facilities have project on the importation of 20,000 dairy been provided for 14,221 beneficiaries under animals. Under this project, 5,000 dairy animals the “Sonduru Piyasa” to support low-income have been imported and distributed among 68 families in 2019. large and medium level entrepreneurs by the end of 2019. In addition, the investment on The concessionary loans and financial grants for the establishment of breeding farms, animal housing development continued in 2019 under breeding through artificial insemination, the Model Village programme. Accordingly, diseases control programme, production of construction of 2,562 model villages was vaccines, livestock researches and training started and construction of 367 model continued. villages completed at the end of 2019. Further, construction of 25 model villages including 600 4.9.5. Irrigation housing units has implemented with a grant of Rs. 600 million from the Indian Government With the aim of increasing productivity of a islandwide in 2019. unit of water through the improved cropping and irrigation techniques, priority has been Under the Middle Income Housing Schemes, given in 2019 for the rehabilitation of existing two projects were completed. i.e. Athurugiriya irrigation schemes and establishing new – “Green-valley” and Homagama – “ Mount schemes. The total government investment Clifford” and another two projects were for the irrigation sector in 2019 was Rs. 36,464 commenced in Wadduwa and Ragama. million. Rehabilitation of major, medium and minor irrigation schemes continued Further, Rs. 8,733 million was invested under in 2019. Several ongoing schemes such as the Urban Regeneration Programme to Moragahakanda and Kaluganga Reservoir accommodate housing facilities for low income project, Uma Oya Diversion Project, project families in Colombo suburbs under the Ministry on Morana Wewa, Kalugal Oya, Yan Oya were of Urban Development, Water Supply and continued up to near-completion. With regard Housing Facilities. to Moragahakanda and Kaluganga Reservoir project, all head works were completed in In addition, the Ministry of Hill Country New 2019 and downstream activities yet to be Villages, Infrastructure and Community completed. Development spent Rs. 812 million to support the plantation community for their housing needs and 486 houses were completed under this project. Rs. 8,051 million was spent under the Ministry of Prison Reform, Rehabilitation, Resettlement and Hindu Religious Affairs in
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2019 to construct 8,000 houses, particularly for Figure 4.4 | Investment in Drinking Water and Sanitation the internally displaced people in the Eastern Sector -2019 and Northern Provinces. People's Bank Loan Proceeds 3% Drinking Water and Sanitation
The actual expenditure on water supply and Direct Loan Disbursement sanitation increased significantly by 50 percent 37% to Rs. 48,815 million in 2019 from Rs. 32,413 million in 2018 owing to the implementation of the mega scale projects all over the country to provide access to safe drinking water and Annual Budget quality sanitation facilities for its citizens. EsƟmates 60% The Government invested Rs. 77,438 million on water supply and sanitation through the
National Water Supply and Drainage Board Figure 4.5 | Safe Drinking Water Coverage by Source 04 Chapter (NWSDB) including the financing through - 2019 loans taken from both domestic and foreign Rain Water banks in 2019. The total loans borrowed and HarvesƟng and other Pipe Born Water disbursed by NWSDB was Rs. 30,712 million 1% Supply 52% while Rs. 45,503 million was provided through Tube Well the Annual Budget including allocations for 3% debt service payments in 2019. People’s Bank Unsafe Water Usage loan proceeds utilized by NWSDB in 2019 for 8% domestic counterpart funds of foreign-funded water supply and sewerage projects was Rs.
2,559 million. Protected DomesƟc Well 36% Government policy decision on financing mechanism on borrowings of the water supply Figure 4.6 | Sanitation Facilities in Sri Lanka by Sources – 2018 and sanitation projects continued in 2019. Pipe Sewerage 2% hŶŬŶŽǁŶ^ĂŶŝƚĂƟŽŶ Hence, all borrowings for water supply and 2% KƚŚĞƌ^ĂŶŝƚĂƟŽŶ sanitation projects were undertaken by the 9% NWS&DB under the subsidized debt service system of the government under the following criteria.
• Urban Water Supply Projects – 50% • Rural Water Supply Projects – 75% • Sewerage and Waste Water Projects – 100% KŶͲ^ŝƚĞ^ĂŶŝƚĂƟŽŶ 87% • Chronic Kidney Disease (CKD) Projects – 100% from 2016 to 2020 It is estimated that almost 91.9 percent of the population has access to safe drinking water. Island wide pipe-borne water supply coverage is almost 51.8 percent. By end 2019, the total number of water connections stood at 2,437,504 including 108,850 new water supply connections. Meanwhile, the Island wide Pipe- Connected Sewerage Coverage is 2.07 percent and the number of new piped sewerage connections was 2,047 in 2019.
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Table 4.23 | Major Water Supply projects implemented in 2019 Rs. Million 2019 Project Provisional Ongoing Water Supply and sewerage projects 28,098 Water Supply and Sanitation Improvement 5,401 China Sri Lanka Grant Research Project 430 Integrated Township and Township Development in Sammanthurai, Kalmunai, Valaichchanai, Thalai Mannar) 108 Prevention of Water-borne Diseases in the Chronic Kidney Disease Affected Areas 226 Inter-provincial Projects 392 Project for Increasing Household Access to sewerage services 121 Improvement of Rural Water Supply & Sanitation 64 Improvement of Community Water Supply 168 Development in Township Development in Lagging Regions 732 Source : Department of National Budget
Urban Development focused on improving infrastructure facilities in
Chapter 04 Chapter urban and suburban areas in order to resolve The Government expenditure on urban typical issues inherent to urbanization such as development sector focused on achieving garbage disposal, slums, sewage and drainage sustainable urban development through management, traffic, poor public amenities creating well designed, green, clean and and environment. smart, urban settlements in strategic locations of the country. The actual expenditure on The project on development of strategic cities urban development sector under the Ministry such as Galle, Kandy, Jaffna and Anuradhapura of Urban Development, Water Supply and continued with a total investment of Rs. 4,529 Housing Facilities significantly increased by million in 2019. Moreover, Town Development 39 percent to Rs. 44,720 million in 2019 from Projects in all nine provinces have accelerated Rs. 32,121 million in 2018 due to the ongoing by the improvement of infrastructure facilities mega scale projects under the cluster of of Townships Island wide through an investment urban development. These projects mainly of Rs. 3,906 million.
Table 4.24 | Expenditure on Major Urban Development Projects – 2019 Rs. Million 2019 Project Provisional Metro Colombo Urban Development Project 8,965 Development of Strategic Cities-Kandy and Galle 3,584 Development of Strategic Cities-Jaffna 940 Light Rail Transit System Project 1,624 Port City Development Project 229 Urban Regeneration Programmes 8,733 Relocation of Manning Market at Peliyagoda 1,264 Town Development Projects in Nine Provinces 3,906 Weras Ganga Storm Water Drainage & Environment Improvement Project 1,571 Projects implemented by the Sri Lanka Land Reclamation and Development Corporation 1,249 Projects implemented by the Urban Development Authority 1,009 Beira Lake Rehabilitation and Redevelopment Project 305 Establish Haritha Udyana in every Pradeshiya Saba Division as a Public Private Partnership 256 Source : Department of National Budget
Waste Management the central Government continued with the existing projects for waste management mainly Waste Management has been identified as through the Ministry of Urban Development, a priority area of the Government under the Water Supply and Housing Facilities, Provincial cluster of urban development in 2019. While Councils and Local Government Authorities
106 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 and the Ministry in charge of Provincial Councils Environmental Management and Local Government Authorities assisted this endeavour targeting the grass root levels. Rs. Creating a culture of environmental friendliness 8,041 million invested for the Metro Colombo among the next generation of the society solid waste management project spearheaded has been recognized by the Government by the Ministry of Urban Development, Water with continued funding assistance for the supply and Housing Facilities for the sanitary school environmental pioneer programme; landfill for solid waste in Aruwakkalu. Initiation ‘Haritha Niyamu’. Enhancing biodiversity of the Greater Colombo Water and Wastewater and sustenance of ecosystem service in Management Improvement Programmes is environmentally sensitive areas, mainstreaming expected to address the waste water issue. biodiversity and agro-biodiversity conservation and activities ensuring the adherence to 4.9.7. Environment international environmental standards such as the implementation of the Montreal Protocol Investment in environment cluster includes were provided with enhanced financing in the areas of waste management, coast and 2019. forest conservation, wildlife and environmental 04 Chapter management.
Coast and Forest Conservation
Coast and forest conservation accounted for Rs. 349 million in 2019. Activities for expanding forest cover across the country have been granted Rs. 401 million in 2018. The government continued to finance the ongoing projects on converting Pine plantations to native, broadleaf species, which aims to re- converting all Pine plantations to sustainable and eco-friendly native forest lands. The need for maintaining industrial plantations has also been recognized, where an enhanced provision of Rs. 325 million has been allocated in 2018. Research and development in the environment cluster has continued to receive funds in 2018 as well, enabling new knowledge on global developments in this field be obtained and shared within the local domain.
Wildlife Conservation
Activities related to Wildlife conservation increased with the financial support of Rs. 180 million provided to mitigate Human-Elephant conflict. A sum of Rs. 290.5 million has been spent on constructing electric fences in 2019. A number of projects related to environmental management have been undertaken in 2019 with the Ministry of Tourism Development, Wildlife and Christian Religious Affairs.
107 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 04 Chapter
108 05 Cash Flow Management, Deficit Financing and Debt MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
5.1 Overview Government Treasury Cash Flow Operations in 2019 Reflecting the sluggish performance of tax and non-tax revenue and the drop in non-project The total receipts to the Treasury cash flows in capital expenditure, net cash deficit increased the form of revenue and other Source amounted by 16.3 percent to Rs. 842.3 billion in 2019. to Rs. 1,936.1 billion with the realization of 86.6 The budget deficit of Rs. 1,016.5 billion was percent from the estimate of Rs. 2,236.4 billion mainly financed by domestic borrowings. Net in 2019. In addition to the tax and non-tax domestic borrowings amounted to Rs. 702.4 revenue and other receipts, total cash inflow billion while the net foreign borrowing stood includes the utilization of proceeds received at Rs. 314.1 billion. Total outstanding central from the Hambantota Port Project amounting to government debt, in nominal terms, increased Rs. 120.6 billion. Meanwhile, the cash outflow in to Rs. 13,031.5 billion in 2019, compared to 2019 amounted to Rs. 2,778.4 billion as against Rs. 12,030.5 biliion in 2018. As a percentage the estimate of Rs. 2,921.1 billion, achieving 95.1 of GDP, total central government debt stock percent from the estimate. The deviation was increased to 86.8 percent of GDP in 2019, mainly due to the decline in non-project capital compared to 83.7 percent in 2018. expenditure. These developments led to a net cash deficit of Rs. 842.3 billion as at end 2019. 5.2 Treasury Cash Flow Management The net cash deficit during the year was Treasury cash flow management process mainly financed through the net borrowings transforms the approved Annual budget into amounted to Rs. 829.9 billion. In addition,
Chapter 05 Chapter an implementable fund flow for a year. This changes in deposits within the Treasury cash fund flow includes cash inflows in the form of flow operations and the bank overdraft were revenue and borrowings and the cash outflows also utilized to finance the deficit. The increase in the form of expenditure including both in the year-end negative bank balances up to recurrent and capital outlays. Accordingly, the Rs. 274.3 billion from the opening negative main objective of the effective Treasury cash cash balance of Rs. 274.2 billion has reflected flow management is to ensure the availability of the utilization of bank overdraft to finance a adequate funds to operationalize government part of net cash deficit. The cash outflow for fiscal policy during the fiscal year through the debt repayment in 2019 amounted to Rs. 1,129.6 various implementing agencies efficiently. billion as against the estimate of Rs. 1,300.0 billion.
Table 5.1 | Government Treasury Cash Flow Operations – 2019 Rs. Billion 2017 2018 2019 Item Actual Actual Estimate Actual Opening Cash balance as at 1st January -160.3 -186.2 -274.2 -274.2 Total cash inflow from revenue and other receipts 1,765.3 1,870.2 2,236.4 1,936.1 Tax Revenue 1,645.3 1,685.3 2,053.5 1,701.1 Non Tax Revenue 117.4 139.1 174.7 109.7 Grant Receipts 2.6 2.0 8.2 4.7 Utilization of Hambantota Proceeds – 43.8 – 120.6 Total cash outflow for recurrent payments -1,853.6 -2,000.7 -2,302.1 -2,221.9 Personal Emoluments -666.4 -711.8 -794.1 -779.1 Pension payments -175.0 -186.1 -213.0 -227.2 Samurdhi payments -39.7 -39.2 -50.0 -44.7 Fertilizer Subsidy -30.4 -26.7 -35.0 -34.3 Other Recurrent -221.7 -214.7 -309.9 -258.8
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Table 5.1 | Government Treasury Cash Flow Operations – 2019 contd... Rs. Billion 2017 2018 2019 Item Actual Actual Estimate Actual Interest -720.4 -822.2 -900.1 -877.8 Total cash outflow for capital payments -646.1 -594.0 -619.0 -556.5 Other Capital payments -400.8 -365.0 -433.1 -390.9 Grant payments -3.3 -2.3 -13.4 -1.9 Advance to Public Officers -11.0 -11.7 -19.0 -10.2 Project payment -231.0 -215.0 -153.5 -153.5 Net cash surplus / (deficit) -734.4 -724.5 -684.7 -842.3 Gross borrowing 1,564.5 1,853.9 1,984.7 1,959.5 Debt repayment -868.9 -1,232.3 -1,300.0 -1,129.6 Domestic -648.0 -923.9 -635.3 -540.3 Foreign -220.9 -308.4 -664.7 -589.3 Net borrowing 695.6 621.6 684.7 829.9 Adjustment account balance (Temporary Employed Balance, net deposits, etc.) 12.9 14.9 12.3 Closing Cash balance as at 31st December -186.2 -274.2 -274.2 -274.3 Source : Department of Treasury Operations Chapter 05 Chapter
5.3 Government Borrowing Programme 5.4.1 Domestic Financing - 2019 Net Domestic Financing (NDF) Parliament approved the borrowing limit of Rs. 2,079.0 billion under the Appropriation Act, No. Total net borrowings from domestic Source 06 of 2019 for financing the resource gap in the increased by 60.6 percent to Rs. 702.4 billion in Budget 2019. The actual gross borrowing in 2019. The total net borrowing in 2019 through 2019 was Rs. 2,077.4 billion of which Rs. 1,142.3 marketable debt instruments amounted to billion was from domestic Source and the rest Rs. 502.8 billion and non-marketable debt Rs. 935.1 billion was from foreign Source. instruments were Rs. 199.6 billion. Borrowings from the Treasury bills reflected a net inflow of 5.4 Financing of the Budget Rs. 123.8 billion, compared to the net inflow of Rs. 52.9 billion in 2018 resulting in an increase The overall budget deficit of Rs. 1,016.5 billion in NDF by 17.6 percent in 2019. Further, net was financed mainly through domestic Source borrowings from the Treasury bonds increased in 2019. Financing through domestic Source by Rs. 54.5 billion in 2019, amounting to Rs. amounted Rs. 702.4 billion or 4.7 percent of 429.0 billion at the end of 2019. GDP in 2019 while net foreign borrowings Figure 5.1 | Trends in Net Domestic Financing accounted Rs. 314.1 billion or 2.1 percent of GDP. 800 80 700 70 Domestic and foreign source were attributable 600 60 500 50 to 69.1 percent and 30.9 percent, respectively
400 40 % of the total resource requirements in financing Rs. Billion 300 30 the overall budget deficit. The share of 200 20
financing from foreign Source declined to Rs. 100 10
314.1 billion or 2.1 percent of GDP in 2019 from 0 0 Rs. 323.5 billion or 2.2 percent of GDP in 2018. 2011 2012 2013 2014 2015 2016 2017 2018 2019 % of Budget DeĮcit Net DomesƟc Financing
Source : Central Bank of Sri Lanka
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Table 5.2 | Net Domestic Financing of the Government Budget: 2018 and 2019 (a) Amount (Rs.Billion) As a % of Total Item 2018 2019 (b) 2018 2019 (b) By Instruments 437.2 702.4 100.0 100.0 Borrowing from Instruments 298.0 502.8 68.1 71.6 Treasury Bonds 374.5 429.0 85.7 61.1 Treasury Bills 52.9 123.8 12.1 17.6 Rupee Loans – – – – Sri Lanka Development Bonds -129.5 -50.0 -29.6 -7.1 Non Instrument Financing 139.3 199.6 31.9 28.4 Provisional Advances from the Central Bank -1.2 38.0 -0.3 5.4 Other 140.4 161.6 32.1 23.0 By Maturity 437.2 702.4 100.0 100.0 Medium to Long Term 245.1 379.0 56.1 54.0 Treasury Bonds 374.5 429.0 85.7 61.1 Rupee Loans – – – – Sri Lanka Development Bonds -129.5 -50.0 -29.6 -7.1 Short term 192.2 323.4 43.9 46.0 Treasury Bills 52.9 123.8 12.1 17.6 Provisional Advances from the Central Bank -1.2 38.0 -0.3 5.4 Other 140.4 161.6 32.1 23.0 By Marketability 437.2 702.4 100.0 100.0 Marketable 298.0 502.8 68.1 71.6 Treasury Bills 52.9 123.8 12.1 17.6 Chapter 05 Chapter Treasury Bonds 374.5 429.0 85.7 61.1 Sri Lanka Development Bonds -129.5 -50.0 -29.6 -7.1 Non – Marketable 139.3 199.6 31.9 28.4 By Ownership 437.2 702.4 100.0 100.0 Banks 109.5 193.1 25.0 27.5 Central Bank 246.1 -108.1 56.3 -15.4 Commercial Banks -136.6 301.2 -31.2 42.9 Non Bank Sector 327.8 509.3 75.0 72.5 Source : Central Bank of Sri Lanka (a) Excludes rupee denominated Treasury bills and Treasury bonds held by foreign investors (b) Provisional 5.4.2 Foreign Financing Foreign Financing Commitments in 2019
Foreign funding has been the main source of The Government has made arrangements to support for large infrastructure projects such as mobilize foreign financing of USD 3,378.8 million expressways, sea and airports, electricity and by entering into 41 agreements with foreign water sectors undertaken by the Government development partners and lending agencies over the last five decades. However, due from 1st January to 31st December 2019, to to domestic and foreign economic and support the public investment program. This market conditions, shrinkage in accessing consists of USD 3,312.5 million in the form concessional financing with increased per- of loans obtained as Official Development capita income level and to fulfil government Assistance (ODA) and USD 66.3 million by way fiscal targets, the Government has taken steps of ODA grants and technical assistance. to extend the foreign financing Source towards capital market over the last decade while China leads the ODA commitments during maintaining the support of traditional Official this period amounting to USD 1,061.7 million Development Assistance (ODA) and accessing followed by the Asian Development Bank new development partners such as Asian (USD 765.0 million), the World Bank (USD Infrastructure Investment Bank (AIIB). 421.8 million), Japan (USD 282.2 million), Asian Infrastructure Investment Bank (USD 280.0 million), United Kingdom (USD 143.9 million),
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Netherlands (USD 128.2 million), France (USD Figure 5.2 | Committments 2019 by Major Development 84.9 million), Hungary (USD 58.0 million), Saudi Partners (USD Million) Fund (USD 50.0 million), European Community China
(USD 43.9 million), OPEC Fund (USD 40.0 424.3 Asian Development Bank million), Austria (USD 10.3 million), Korea (USD 143.9 6.0 million), Germany (USD 2.3 million), UN 1,061.7 World bank 280.0 Agencies (USD 0.6 million). Project-wise details Japan are in the Table 5.6. 282.2 Asian Infrastructure Investment Bank Commitments arranged to the road and bridges 421.8 United Kingdom sector was the highest among all sectors which 765.0 accounted to USD 1,301 million or 39 percent Other followed mainly by the transport sector (USD Source : Department of External Resources 731 million), health and Social welfare (USD 345 Figure 5.3 | Commitments 2019 by Major Economic Sector million) and housing and urban development (USD Million) (USD 335 million). 80 85 227 Roads and Bridges In addition to the funds raised from ODA 131 Ground Transport development partners, USD 4,400 million was 145 Health & Social raised through International Sovereign Bonds 1,301 Welfare (ISBs) in 2019. Of which, USD 1,000 million was 334 Housing & Urban raised at a fixed interest rate of 6.85 percent Develop. Science & Technology with a 5-year tenure while another USD 1,400 05 Chapter million was raised at a fixed interest rate of 345 Agriculture 7.85 percent with 10-year tenure during the Water Supply & SanitaƟon 730 first quarter of the year. Another USD 500 Land Development million was raised in the second quarter at a Other fixed interest rate of 6.35 percent with a 5-year tenure and a balance of USD 1,500 million was Source : Department of External Resources raised at a fixed interest rate of 7.55 percent with 10-year tenure. Foreign Financing Disbursements and Utilization
Table 5.3 | Foreign Financing ODA Commitments 2019 Total foreign financing disbursements made for - Lender-wise Development Partner Commitment (USD Million) development projects and programmes during st st Bilateral 1,871.40 the period from 1 January to 31 December China 1,061.70 2019 amounted to USD 1,632.6 million. Of Japan 282.2 which, USD 1,607.3 million was disbursed as United Kingdom 143.9 loans while USD 25.3 million was disbursed by Netherlands 128.2 way of grants. France 84.9 Hungary 58.1 The majority of the disbursements were from Saudi Fund 50 the loan agreements signed with the China, European Community 43.9 which is almost 40 percent, followed by Asian Austria 10.3 Development Bank (17 percent), World Bank (11 Korea 6 percent), and Japan (11 percent). Germany 2.3 Multilateral 1,507.40 | Asian Development Bank 765 Table 5.4 Disbursements of Foreign Loans and Grants from 1st January to 31st December 2019 World bank 421.8 Development Disbursements (USD Million)* Asian Infrastructure 280 Partner Loan Grant Total Investment Bank Bilateral 1,119.90 20.6 1,140.50 OPEC Fund 40 China** 648.4 - 648.4 UN Agencies 0.6 Japan 178.1 9.4 187.5 Total 3,378.80 Source: Department of External Resources France 73 0.2 73.2
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Table 5.4 | Disbursements of Foreign Loans and Grants The majority of the disbursements was in lieu from 1st January to 31st December 2019 contd... of the projects implemented under the roads Development Disbursements (USD Million)* and bridges sector accounting for almost 52 Partner Loan Grant Total percent followed by the water supply and Netherlands 70.3 - 70.3 sanitation sector at 12 percent, power and United 45.2 - 45.2 Kingdom energy at 7 percent and ground transport India 39.1 - 39.1 sector at 5 percent. Austria 21.4 - 21.4 Saudi Arabia 16.2 - 16.2 Figure 5.5 | Disbursements – 2019 by Major Economic Korea 12.1 - 12.1 Sector (USD Million) USA - 11.1 11.1 Kuwait 8.8 - 8.8 41.7 24.2 44.1 Germany 3.5 - 3.5 44.4 68.9 Denmark 2.4 - 2.4 55.4 (HSBC, Guarantee 77.9 with Denmark) 90.5 874.9 Spain 0.9 - 0.9 110.6 Pakistan 0.7 - 0.7 Multilateral 487.4 4.7 492.1 200.1 Asian 279.5 0.01 279.5 Development Bank World Bank 177.7 0.02 177.7 Roads and Bridges Water Supply & SanitaƟon Power & Energy OPEC Fund 18.3 - 18.3 Ground Transport Health & Social Welfare EducaƟon & Training Chapter 05 Chapter IrrigaƟon & Related AcƟviƟes SME Development Housing & Urban Develop. International 11.2 - 11.2 Fund for Agriculture Other Agriculture Development Source: Department of External Resources United -4.74.7 Nations Agencies Committed Undisbursed Balance (CUB) Asian 0.7 - 0.7 Infrastructure st Investment As at 31 December 2019, the total undisbursed Bank (AIIB) loan balance of foreign financing available Total 1,607.30 25.3 1,632.60 from already committed loans that are to be Source: Department of External Resources Note: For conversion of disbursements made in different currencies utilized in the next 3–5 years, was USD 9,688.9 into USD and Rupees, the average of the exchange rates of 31st million. The majority of the CUB remains December 2019 have been used with the recent projects funded by the Asian * Provisional Development Bank (23 percent or USD 2,116 ** Disbursements made to SOEs are not included USD 4,400 million International Sovereign Bonds issued in 2019 are million), followed mainly by China (22 percent not included or USD 2,093 million), Japan (19 percent or USD 1,813 million) and the World Bank (13 percent Figure 5.4 | Disbursements – 2019 by Major Development or USD 1,286 million). Almost 24 percent of Partners (USD Million) the foreign financing to be disbursed during next 2–5 years is for road and bridges sector while the considerable amount to be disbursed 339.5 mainly for the sectors such as water supply and sanitation and transport. 648.4
177.7 Table 5.5 | Committed Undisbursed Balance as at 31st December 2019 187.5 Economic Sector CUB (USD Million) Roads and Bridges 2,459.90 279.5 Water Supply & Sanitation 1,712.40 Ground Transport 1,343.40 Housing & Urban 540.30 China ADB Japan WB Other Development
Source: Department of External Resources Power & Energy 492.90
114 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 5.5 | Committed Undisbursed Balance as at 31st Figure 5.7 | Central Government Debt December 2019 contd... 7000 6629
Economic Sector CUB (USD Million) 6402 6071 Health & Social Welfare 461.30 5959 6000 5664 Education & Training 434.60 5433 5055
Irrigation & Related Activities 339.60 5000 4718
Agriculture 261.40 4045 4000 Environment 229.00 3544 3000 Rural Development 177.60 Rs. Billion Ports & Shipping 174.50 2000 Other 1,062.00
Total 9,688.90 1000 Source: Department of External Resources 0 2015 2016 2017 2018 2019 Figure 5.6 | CUB – 2019 by Major Development Partners Year (USD Million) Domestic Debt Foreign Debt
134.7 103.0 399.8 171.7 Source: Central Bank of Sri Lanka 187.9
279.3 2,115.9 Of the maturity period, short-term debt
444.6 including Treasury bills and advances increased
467.2 by 12.0 percent to Rs. 1,270.4 billion whereas medium to long-term declined by 8.5 percent Chapter 05 Chapter 1,285.6 2,092.8 to Rs. 5,358.7 billion in 2019 reflecting the nearly 70 percent outstanding balance of Treasury bonds in the domestic debt portfolio. 1,812.9 In terms of institutional wise breakdown, non-
ADB China Japan India banking sector dominates in the debt portfolio registering an increase of 4.6 percent to Rs. France AIIB Netherlands Saudu Fund OPEC Fund 3,889.5 billion in 2019, compared to the banking Russia UK Other sector which increased by 16.5 percent to Rs. 2,739.6 billion in 2019. However, the non- Source: Department of External Resources banking sector in total outstanding domestic 5.5 Central Government Debt debt plummeted to 58.7 percent in 2019 from 61.3 percent in 2018 reflecting the increase in The total outstanding central government banking finance in 2019. debt increased by 8.3 percent to Rs. 13,031.5 billion at the end of 2019, compared to Rs. Of total foreign currency debt portfolio, 12,030.5 billion in 2018. The increase of concessional debt increased marginally by 2.3 debt stock was partly due to the increase in percent to Rs. 2,767.5 billion in rupee terms and differences between the book value and the non-concessional debt increased significantly face value of the issuances of Treasury bills and by 11.7 percent to Rs. 3,635.0 billion due to the Treasury bonds. Out of the total debt stock rise in commercial borrowings, in particular, in 2019, Rs. 6,629.1 billion or 50.9 percent was International Sovereign Bonds (ISBs), reflecting domestic debt while Rs. 6,402.4 billion or the increase in non-concessional debt in the 49.1 percent was foreign debt reflecting the total foreign currency debt portfolio. In terms increased domestic exposure in financing the of foreign currency presence in the foreign debt deficit. Domestic debt stock increased by 9.2 stock, US dollar dominates with a share of 66.8 percent and foreign debt stock increased by percent followed by SDR, Japanese yen and 7.4 percent in rupee terms in 2019. The relative Euro stood at 14.5 percent, 9.8 percent and 3.6 share of domestic debt in the total debt stock percent, respectively. The outstanding foreign increased slightly by 0.4 percentage points currency debt, in rupee terms, increased by 7.4 to 50.9 percent in 2019 whereas foreign debt percent or Rs. 442.9 billion in 2019. stock declined marginally by 0.4 percentage points to 49.1 percent in 2019.
115 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Central Government debt to GDP ratio over foreign debt: domestic debt to GDP ratio increased by 3.1 percentage points to 86.8 increased to 44.1 percent in 2019 from 42.3 percent at end 2019 from 83.7 percent at end percent in 2018; foreign debt to GDP ratio also 2018 to finance the expanded fiscal deficit in increased to 42.6 percent from 41.5 percent in 2019 while overweighting the domestic debt 2018.
Table 5.6 | Foreign Financing ODA Commitments from 1st January to 31st December 2019-Project-wise Amount Committed (million) Terms
Development Project / Interest Partner/ Agreement Program/ Other Lending Date Instrument Name US$ Charges
Agency Rupees Currency Currency Annual Margin In Instrument Instrument Type Type Rate (100 basis of Signing (Years) Signing (Years) of Grace Period (Years) Period Grace Maturity /Availability Maturity /Availability (%) points) the Date from Period Bilateral Japan Loan 3/11/2019 Establishment of Light JPY 30,040.0 48,250.2 270.5 Fixed Tranche Not Frontend fee 12 40 rail Transit Project 1 – 0.1, Applicable 0.2% System in Colombo Tranche 2 – 0.01 Grant 10/2/2019 Japanese Grant Aid for JPY 1,000.0 1,692.2 9.3 Not Applicable 3 the Economic and Social Development Program (through Crown Agents Japan Limited) Grant 6/17/2019 Human Resource JPY 263.0 428.0 2.4 Not Applicable 3 Development Scholarship Germany Grant 12/17/2019 Reconstruction EUR 2.1 424.2 2.3 Not Applicable 1 of Mahamodara Chapter 05 Chapter Maternity Hospital Korea Grant 1/17/2019 Modernization of US$ 6.0 1,094.3 6.0 Not Applicable 4.5 Plant Quarantine in Sri Lanka Deutsche Bank Loan 1/23/2019 Reconstruction of US$ 12.7 2,314.7 12.7 Variable LIBOR 6 4.15 Commitment 47 AG (United Rural Bridges USD months Fee 0.25%, Kingdom) 12.7 mn ( Commercial for USD Arrangement Facility) fee 0.5% Loan 1/23/2019 Reconstruction of US$ 50.9 9,259.5 50.9 Variable LIBOR 6 1.5 Commitment 312 Rural Bridges USD months Fee 0.25%, 50.9 mn (UKEF) for USD Arrangement fee 0.5% Export-Import Loan 3/22/2019 Central Expressway US$ 989.5 176,247.2 989.5 Fixed 2.5 Not Commitment 620 Bank of China Project Section – I Applicable Fee 0.25%, from Kadawatha to Management Meerigama Fee US$ 2,5 million Agence Loan 2/18/2019 Rathmalana-Moratuwa EUR 75.0 15,169.1 84.9 Variable EURIBOR 1 Appraisal 7.5 25.5 Francaise De Waste Water Disposal 6 months Fee 0.5%, Development Project- Stage I – Commitment (France) Phase II Fee 0.5% HSBC (China- Loan 3/12/2019 Upgrading Health US$ 72.3 12,897.2 72.3 Variable LIBOR 6 1.85 Structural 315 Hong Kong) Facilities in Selected months Fee 0.5%, Hospitals of Sri Lanka for USD Commitment Fee 0.5% UniCedit Bank Loan 2/11/2019 Supply of Firefighting US$ 10.3 1,835.9 10.3 Interest Free Commitment 5.5 19.5 Austria AG Vehicles/Equipment Fee 0.4%, (Austria) for the Colombo Management Municipal Council Fee 0.45%, Handling Fee US$ 1,440, Upfront Fee US$ 45,136.8 Saudi Fund for Loan 9/18/2019 Construction of SAR 187.5 9,035.5 50.0 Fixed 2 Not - 525 Arab Economic Faculty of Medicine Applicable Development Project at the Sabaragamuwa University Co-op Centrale Loan 10/10/2019 Establishment of EUR 28.9 5,737.6 31.8 Variable EURIBOR 1.45 Commitment 110 Raiffeisen- National Vocational 6 months Fee 0.25%, Boerenleenban Training Institute Arrangement (Netherlands) at Hingurakgoda, Fee EUR Polonnaruwa 72,315 under Polonnaruwa Integrated Development Project
116 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 5.6 | Foreign Financing ODA Commitments from 1st January to 31st December 2019-Project-wise contd... Amount Committed (million) Terms
Development Project / Interest Partner/ Agreement Program/ Other Lending Date Instrument Name US$ Charges
Agency Rupees Currency Currency Annual Margin In Instrument Instrument Type Type Rate (100 basis of Signing (Years) Signing (Years) of Grace Period (Years) Period Grace Maturity /Availability Maturity /Availability (%) points) the Date from Period Loan 10/10/2019 Construction of Rural EUR 41.8 8,290.7 45.9 Variable EURIBOR 1.45 Commitment 110 Bridges with Financial 6 months Fee 0.25%, Assistance from Arrangement Netherlands Fee EUR 104,493 Hungary Loan 10/31/2019 Design and EUR 52.0 10,541.9 58.0 Interest Free - 421 Construction of Flyovers at Kohuwala and Gatambe under the Framework Credit Programme for Financial Cooperation HSBC Bank PLC Loan 6/27/2019 Construction of EUR 52.9 10,612.9 60.1 Fixed 2 Not Structuring 313 (UK) High Altitude Applicable Fee 0.5%; Sports Complex in UKEF Support Nuwara-Eliya Fee 0.025% ING Bank N.V. Loan 7/10/2019 Strengthening of EUR 45.0 8,871.2 50.4 Variable EURIBOR 0.9 Commitment 4 13.5 (Netherlands) the Health Delivery 6 months Fee 0.36%, Service in the Management Northern Province Fee 0.5%, ECA Premium under Financial EUR 1.0 mn & Assistance of the EUR 3.1 mn Netherlands (DRIVE) Chapter 05 Chapter Standard Loan 6/19/2019 Establishment EUR 18.0 3,561.6 20.1 Variable EURIBOR 1.25 Commitment 39 Charted Bank of Neonatal and 6 months Fee 0.5%, (UK) Obstetrics Reference Management Center for the De Fee 0.5% Soyza Maternity Hospital Project Multilateral Asian Loan 1/17/2019 Technical Assistance US$ 10.0 1,823.9 10.0 Variable LIBOR 6 1.3 Commitment 524 Development Loan Agreement months Fee 0.25%, Bank for USD Frontend fee 0.25% Loan 1/17/2019 South Asia Sub US$ 300.0 54,715.5 300.0 Variable LIBOR 6 1.4 Commitment 828 regional Economic months Fee 0.25%, Cooperation Port for USD Frontend fee Access Elevated 0.25% Highway Project Loan 1/17/2019 Science and US$ 61.9 11,304.2 61.9 Fixed 2 Not - 525 Technology Applicable Human Resource Development Project Loan 1/17/2019 Science and US$ 83.0 15,141.6 83.0 Variable LIBOR 6 0.7 Commitment 829 Technology months Fee 0.15%, Human Resource for USD Maturity Development Project Premium 0.2% Loan 11/13/2019 Second Integrated US$ 150.0 27,104.7 150.0 Variable LIBOR 6 0.7 Commitment 829 Road Investment months Fee 0.15%, Program (Tranche 2) for USD Loan 8/20/2019 Railway Efficiency US$ 160.0 28,378.3 160.0 Variable LIBOR 6 0.7 Commitment 829 Improvement Project months Fee 0.15% for USD Asian Loan 4/25/2019 Reduction of US$ 80.0 13,979.7 80.0 Variable LIBOR 6 1.3 Commitment 630 Infrastructure Landslide Vulnerable months Fee 0.25%, Investment by Mitigation for USD Frontend fee Bank Measures Projects 0.25% Loan 4/25/2019 Support to Colombo US$ 200.0 34,949.1 200.0 Variable LIBOR 6 1.4 Commitment 930 Urban Regeneration months Fee 0.25%, Projects for USD Frontend fee 0.25% European Grant 10/9/2019 Strengthening EUR 40.0 7,922.5 43.9 Not Applicable 1 Community Transformation, Reconciliation and Inclusive Democratic Engagement (STRIDE) International Loan 1/23/2019 Primary Health Care US$ 200.0 36,370.0 200.0 Variable LIBOR 6 0 Commitment 633 Bank for System Strengthening months Fee 0.25%, Reconstruction Project for USD Frontend fee & Development 0.25%
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Table 5.6 | Foreign Financing ODA Commitments from 1st January to 31st December 2019-Project-wise contd... Amount Committed (million) Terms
Development Project / Partner/ Agreement Interest Program/ Other Lending Date Instrument Name US$ Charges
Agency Rupees
Currency Currency Annual Margin In Instrument Instrument Type
Type Rate (100 basis Signing (Years) of Maturity /Availability Maturity /Availability Period from the Date the Date from Period (%) points) (Years) Period Grace Loan 4/11/2019 Framework Development US$ 25.0 4,367.9 25.0 Variable LIBOR 6 0 Commitment 920 & Infrastructure months Fee 0.25%, for USD Frontend fee Financing to Support 0.25% Public Private Partnerships Project Grant 4/11/2019 Climate Mitigation US$ 1.8 314.5 1.8 Not Applicable 1.5 Action Support Project International Loan 4/11/2019 Climate Smart US$ 125.0 21,839.5 125.0 Variable LIBOR 6 0 Commitment 12 26 Development Irrigated Agriculture months Fee 0.25%, for USD Association Project Frontend fee 0.25% Loan 5/14/2019 Local Development US$ 70.0 12,331.5 70.0 Variable LIBOR 6 0 Commitment 12 27 Support Project months Fee 0.25%, for USD upfront fee 0.25% OPEC Fund Loan 10/30/2019 Rehabilitation of the US$ 40.0 7,262.5 40.0 Fixed 2.5 Not Service Fee 520 A017 Road Corridor Applicable 1% Project (Rakwana- Suriyakanda) UNHCR Grant 1/9/2019 Enabling Returnees in LKR 3.70 3.7 0.02 Not Applicable 1 Kilinochchi, Puttalam
Chapter 05 Chapter and Mannar Districts to Access their Rights Food & Grant 1/1/2019 Innovative US$ 0.30 48.1 0.30 Not Applicable 1.7 Agriculture approaches to Organization reduce, recycle and reuse food waste Grant 1/1/2019 Strengthening the US$ 0.03 5.1 0.03 Not Applicable 1 Capacity for Monitoring Food Security and Sustainable Agriculture in the Context of SDG 2 and 12 Grant 7/1/2019 Support to US$ 0.20 42.7 0.20 Not Applicable 3 Establishment of Geographical Indication System UNESCO Grant 6/3/2019 Microclimates of US$ 0.02 4.0 0.02 Not Applicable 1 the Caves in Golden Temple of Dambulla Grant 6/4/2019 Strengthening the US$ 0.02 4.2 0.02 Not Applicable 1 Partnership between Faculty of Agriculture, Rajarata University of Sri Lanka and the Farming Community Grant 6/3/2019 Empowering US$ 0.02 3.9 0.02 Not Applicable 1 stakeholders to combat stunting and wasting in children under 5 years. Total 604,181.7 3,378.80 Source: Department of External Resources 5.5.1 Domestic Debt Composition of Domestic Debt
The outstanding domestic debt excluding the Composition by Type rupee denominated Treasury bills and bonds issued to non-residents, increased by 9.2 The outstanding domestic debt mainly percent to Rs. 6,629.1 billion at the 2019 from consisted of Treasury bonds, Treasury bills Rs. 6,071.0 billion at end 2018. and Sri Lanka Development Bonds (SLDBs)
118 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 amounting 69.5 percent, 13.2 percent and 8.5 Composition by Maturity Profile percent, respectively at end 2019. The stock of Treasury bonds increased by 9.7 percent to The share of domestic debt matured within a Rs. 4,606.2 billion in 2019 while the Treasury bill one year of total outstanding domestic debt stocks increased by 17.0 percent to Rs. 873.9 represented 19.2 percent while the balance billion, compared to 2018. The outstanding 80.8 percent represented the maturities stocks of SLDBs declined by 8.8 percent in 2019. beyond 2020. The total medium to long- The share of provisional advances obtained term debt portfolio included 86.0 percent of from the CBSL increased to 3.6 percent in 2019 Treasury bonds and the remaining 14.0 percent from 3.3 percent in 2018. consisted 10.5 percent of SLDBs, 0.4 percent of Rupee Loans and 3.1 percent of other Figure 5.8 | Composition of Domestic Debt by Type borrowings.
2005 Figure 5.9 | Domestic Debt Matuarity Profile
Provisional 2,800 Other 2,600 Advances 5% 3% Rupee 2,400 Sri Lanka SecuriƟes 2,200 Developmen 9% 2,000 t bonds 1,800 2% Treasury Bills 1,600
16% Rs. Billion 1,400 1,200 1,000 800 Treasury Bonds 600 05 Chapter 65% 400 200 0 Year
2010 Years 1 - 5 Years 1 - Beyond 10 Less than 1 5 - 10 Years 5 - Other Rupee Provisional Source: Central Bank of Sri Lanka Advances 3% SecuriƟes 3% Sri Lanka 3% Developmen Composition by Marketability of t Bonds Treasury Bills Government Domestic Debt 7% 20%
The marketable debt stock increased by 8.7 Treasury percent to Rs. 6,040.4 billion in 2019, reflecting Bonds 64% the continuous utilisation of marketable debt instruments over the past few years. Marketable debt instruments accounted for 91.1 percent of the total domestic debt stock. Of the total value 2019 of marketable debt instruments portfolio of Rs.
Other 6,040.4 billion, while Treasury bonds, Treasury Provisional Rupee 4.9% Advances SecuriƟes bills and SLDBs represented 76.3 percent, 14.5 3.6% 0.4% Sri Lanka percent and 9.3 percent, respectively among Development the marketable instruments in 2019. Bonds 8.5% Treasury Bills 13.2% Composition by the Ownership of Domestic Debt
Treasury The ownership of government domestic debt Bonds 69.5% in the banking sector increased by 16.5 percent and the ownership of the government domestic debt in the non-banking sector increased by Source: Central Bank of Sri Lanka 4.6 percent at end 2019. The share of the non- banking sector declined to 58.7 percent from
119 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
61.3 percent as at end 2019, out of the total the Central Bank increased by 27.4 percent due outstanding domestic debt while the share of to the increase in Treasury bill holdings while the banking sector increased to 41.3 percent in the commercial banks’ holdings also increased 2019. However, the domestic debt owned by by 15.2 percent in 2019 as against the previous year. Figure 5.10 | Marketability of Government Domestic Debt
Marketability of Government Debt: 2005 Marketability of Government Debt: 2019
Treasury bills Treasury bills 16% 13.2%
Maketable Treasury bonds Non Marketable Treasury bonds Non Marketable Maketable 83% 69.5% 17% 65% 8.9% 91.1%
SLDBs SLDBs 8.5%
Source: Central Bank of Sri Lanka
Table 5.7 | Central Government Domestic Debt (a) Rs.Million Item 2012 2013 2014 2015 2016 2017 2018 2019 (b)
Chapter 05 Chapter Total Domestic Debt 3,315,651 3,928,788 4,373,746 5,055,159 5,433,073 5,664,215 6,071,001 6,629,104 By Instrument Rupee Loans 58,386 55,518 55,518 24,088 24,088 24,088 24,088 24,088 Treasury Bills (c) 629,070 700,137 694,767 658,240 779,581 697,154 746,887 873,943 Treasury Bonds (d) 2,177,892 2,548,323 2,940,017 3,401,211 3,806,353 3,892,408 4,197,323 4,606,232 Sri Lanka Development Bonds 222,994 369,215 391,083 668,458 572,199 637,886 614,219 560,226 Provisional Advances 111,292 109,167 143,898 151,132 83,307 199,801 198,633 236,609 Other 116,017 146,429 148,463 152,031 167,546 212,879 289,851 328,006 By Maturity Short term 813,272 909,156 941,162 913,291 968,396 1,031,181 1,134,553 1,270,374 Treasury Bills (c) 629,070 700,137 694,767 658,240 779,581 697,154 746,887 873,943 Provisional Advances 111,292 109,167 143,898 151,132 83,307 199,801 198,633 236,609 Other 72,910 99,852 102,498 103,920 105,508 134,227 189,034 159,822 Medium and Long – Term 2,502,379 3,019,632 3,432,584 4,141,868 4,464,677 4,633,033 4,936,447 5,358,731 Treasury Bonds (d) 2,177,892 2,548,323 2,940,017 3,401,211 3,806,353 3,892,408 4,197,323 4,606,232 Rupee Loans 58,386 55,518 55,518 24,088 24,088 24,088 24,088 24,088 Sri Lanka Development Bonds 222,994 369,215 391,083 668,458 572,199 637,886 614,219 560,226 Other 43,107 46,577 45,966 48,111 62,038 78,652 100,817 168,184 By Marketability Marketable 3,029,956 3,617,675 4,025,867 4,727,909 5,158,132 5,227,447 5,558,429 6,040,402 Treasury Bills (c) 629,070 700,137 694,767 658,240 779,581 697,154 746,887 873,943 Treasury Bonds (d) 2,177,892 2,548,323 2,940,017 3,401,211 3,806,353 3,892,408 4,197,323 4,606,232 Sri Lanka Development Bonds 222,994 369,215 391,083 668,458 572,199 637,886 614,219 560,226 Non – Marketable 285,695 311,114 347,879 327,251 274,941 436,768 512,572 588,703 By Ownership Banks 1,148,937 1,524,832 1,756,380 2,007,961 2,198,909 2,383,663 2,351,940 2,739,583 Central Bank 265,198 112,396 267,677 256,050 414,950 209,412 244,128 310,909 Treasury Bills 154,005 3,053 123,496 104,754 331,389 9,908 45,797 74,744 Other (e) 111,193 109,343 144,180 151,296 83,560 199,504 198,331 236,165 Commercial Banks By Instrument 883,739 1,412,436 1,488,703 1,751,911 1,783,959 2,174,251 2,107,811 2,428,674 Rupee Loans 15,870 15,870 15,870 15,870 15,870 15,870 15,870 15,870 Treasury Bills 219,748 443,951 278,296 340,664 244,139 463,198 489,199 684,680 Treasury Bonds 333,389 477,457 681,565 601,538 815,950 858,574 698,378 839,456 Sri Lanka Development Bonds 222,994 369,215 391,083 668,458 572,199 637,886 614,219 560,226 Other 91,737 105,943 121,890 125,382 135,802 198,723 290,145 328,442
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Table 5.7 | Central Government Domestic Debt (a) Rs.Million Item 2012 2013 2014 2015 2016 2017 2018 2019 (b) By Institution 883,739 1,412,436 1,488,703 1,751,911 1,783,959 2,174,251 2,107,811 2,428,674 State Banks 283,426 435,111 527,641 507,164 506,647 744,055 835,052 1,078,970 Other 600,312 977,325 961,062 1,244,747 1,277,312 1,430,197 1,272,759 1,349,704 Non Bank Sector By Instrument 2,166,714 2,403,956 2,617,366 3,047,199 3,234,164 3,280,552 3,719,061 3,889,521 Rupee Loans 42,516 39,648 39,648 8,218 8,218 8,218 8,218 8,218 Treasury Bills 255,317 253,133 292,975 212,822 204,052 224,048 211,891 114,519 Treasury Bonds 1,844,502 2,070,866 2,258,452 2,799,673 2,990,403 3,033,833 3,498,945 3,766,777 Other 24,379 40,310 26,292 26,485 31,491 14,453 7 7 By Institution 2,166,714 2,403,956 2,617,366 3,047,199 3,234,164 3,280,552 3,719,061 3,889,521 National Savings Bank 330,150 358,243 379,877 428,236 426,771 447,792 494,976 593,965 Savings Institutions & Individuals 408,827 350,562 450,571 604,246 583,089 463,772 530,150 768,939 Employees' Provident Fund 1,173,870 1,393,458 1,474,244 1,612,461 1,778,276 1,930,141 2,147,176 2,147,176 Insurance Institutions 33,768 30,849 30,536 50,597 57,944 72,305 67,506 55,589 Finance Companies 17,040 27,839 59,667 55,599 68,097 64,791 64,756 73,169 Other 203,060 243,006 222,470 296,060 319,986 301,752 414,497 250,682 Source : Central Bank of Sri Lanka (a) Outstanding Treasury bills and Treasury bonds have been adjusted for secondary market transactions (b) Provisional (c) Excludes rupee denominated Treasury bills held by foreign investors (d) Excludes rupee denominated Treasury bonds held by foreign investors and includes Treasury bonds of Rs. 4,397 million issued to the Co-operative Wholesale Establishment (CWE) in November 2003 (matured on 14 November 2016), Rs. 13,125 million issued to capitalise SriLankan Airlines in March 2013 (matured on 01 June 2018) and Rs. 78,441 million issued to the Ceylon Petroleum Corporation (CPC) in January 2012 (of which Rs. 21,778 million Chapter 05 Chapter matured on 01 January 2017 and the current outstanding is Rs. 56,662 million). (e) Includes provisional advances
5.5.2 Outstanding Central Government Figure 5.12 | Currency Composition of Outstanding Debt Foreign Debt Stock and its Trend from 2012 to 2019 (Percentage)
The accumulated external debt stock of the 70.0 65.5 64.6 60.0 60.9 Central Government amounted to USD 34.7 57.5 52.3 50.0 billion at the end of 2019, an increase of USD 47.4 40.0 40.3 2.1 billion (or about 6.5 percent), compared to 35.9 30.0 28.3 28.0 25.0 USD 32.6 billion at the end of 2018. At the end of 22.4 20.0 19.7 18.2 2019, the market-based borrowings including 16.1 14.4 10.0
ISBs and Foreign Currency Term Financing 0.0 Facility (FCTFF) loans accounted for 47 percent 2012 2013 2014 2015 2016 2017 2018 2019 USD SDR JPY EUR CNY Other of the outstanding external debt stock.
Source: Department of External Resources Figure 5.11 | Composition of Outstanding Central Government Foreign Debt Stock at the end of 2019 – USD has been the major currency in the by Major Creditor (USD Million) Central Government foreign debt stock over the years followed by Special Drawing Rights, 859.3, 2% Market Borrowings 3038.5, 9% Japanese Yen and Euro respectively. USD has China represented about 65 percent of the total
3230.9, 9% Central Government foreign debt stock as at Asian Development Bank 16383.4, 47% the end of 2019. 3360, 10% Japan
World Bank Almost 40 percent of the total Central 4415.7, 13% India Government foreign debt stock as at the end of 2019 will be matured after 10 years while about 3388.2, 10% Other 39 percent will matured during 5–10 years. About 21 percent will be matured during next Source: Department of External Resources 5 years.
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Figure 5.13 | Maturity Structure of Existing Debt Stock on the domestic debt by 41 percent to Rs. 546.3 as of End of 2019 (USD Million) billion and the increase in interest payments on the domestic debt by 2.1 percent to Rs. 652.8 4% 3% 5% billion in 2019, compared to the previous year.
7% Interest payments on short-term domestic loan 2% 40% significantly rose by 41.4 percent to Rs. 105 billion mainly driven by a strategy to minimize the fiscal burden of the increase in short-term domestic debt by 12.0 percent in 2019 whereas 39% interest payments on medium and long-term loan declined by 2.7 percent to Rs. 549 billion <1 year 1-2 Years 2-3 years 3-4 Years 4-5 years 5-10 Years 10+ Years in 2019. Domestic debt service payments as a Source: Department of External Resources percentage of GDP declined to 8.0 percent in 2019 from 10.8 percent in 2018. Domestic debt 5.6 Debt Service Payments service payments recorded 63.4 percent of Government revenue in 2019, compared to 81.3 The total debt service payments including percent in 2018. amortization and interest payments declined by 3.2 percent to Rs. 2,022.5 billion in 2019 Table 5.8 | Domestic Debt Service Payments from Rs. 2,088.6 billion in 2018. This decline Rs. Million was due to the drop in amortization payments on domestic debt in 2019. Total debt service Year Principal payments Interest payments Total
Chapter 05 Chapter payments included amortisation payments of 2009 401,296 273,977 675,273 Rs. 1,121.1 billion and interest payments of Rs. 901.3 billion in 2019. Amortization payments on 2010 389,672 297,127 686,799 domestic debt declined significantly by 40.7 2011 439,894 288,134 728,028 percent to Rs. 546.3 billion in 2019 due to the decline in maturities of SLDB, Treasury bonds 2012 415,441 317,659 733,100 and Foreign Currency Banking Units (FCBUs). 2013 496,042 354,706 850,748 In contrast, amortisation of foreign loans 2014 449,554 327,934 777,488 increased considerably by 82.8 percent to Rs. 574.8 billion in 2019 due to the maturity of 2015 523,824 394,289 918,113
USD 1,500 million of ISBs together with FCTFF. 2016 572,442 484,182 1,056,624 However, interest payments on both domestic debt and foreign debt increased by 2.1 percent 2017 642,875 570,623 1,213,498 to Rs. 652.8 billion and 16.9 percent to 248.6 2018 921,881 639,482 1,561,363 billion, respectively in 2019. 2019 546,315 652,795 1,199,111
The debt service payments were excess of Source : Central Bank of Sri Lanka total government revenue in 2019 which has
been a concern. However, the ratio of debt Figure 5.14 | Domestic Debt Service Payments as a % of service payments to total government revenue GDP and Total Government Revenue: 2009- 2019 improved to 107.0 percent in 2019 from 108.8 percent in 2018. Debt service payment 18 100 registered a 13.5 percent of GDP in 2019: total 15 90 amortisation payments were 7.5 percent of GDP 12 80 and total interest payments were 6.0 percent 9 70
of GDP in 2019. of GDP % 6 60 % of Total Revenue Total % of 3 50
5.6.1 Domestic Debt Service Payments 0 40 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Domestic debt service payments declined % of Total Revenue(Right) % of GDP (Left) by 23.2 percent to Rs. 1,199 billion in 2019 Source : Central Bank of Sri Lanka reflecting to decline of amotisation payments
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5.6.2. Foreign Debt Service Payments
Total foreign currency debt service payments 2019. Foreign currency debt service payments increased by 52.9 percent to Rs. 806 billion in as a percentage of GDP increased to 5.4 percent 2019, compared to Rs. 527 billion registered in 2019 from 3.7 percent in 2018. Foreign in 2018. Amortisation payments and interest currency debt service payments accounted payments on the outstanding foreign currency for 42 percent of Government revenue in 2019 debt rose by 82 percent to Rs. 572 billion and from 27 percent in 2018. by 10 percent to Rs. 234 billion, respectively in
Table 5.9 | Foreign Debt Service Forecast for Year 2020–20251 Period (USD Million)
2019 Forecast Type Actual 2020 2021 2022 2023 2024 2025 Principal 3,159.60 2,768.50 2,634.10 3,227.80 3,036.20 3,299.70 3,427.90 Interest 1,288.10 1,440.10 1,396.60 1,319.00 1,188.00 1,074.30 963.1 Total 4,447.70 4,208.60 4,030.70 4,546.80 4,224.20 4,374.00 4,391.00
Source: Department of External Resources Chapter 05 Chapter
1 USD estimations are based on the average of the exchange rates as at 31st December 2019, Forecast was made based on existing portfolio only, (i.e. debt stock to be accumulated due to new commitments are not included)
123 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 05 Chapter
124 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 06 Chapter
PART III Functional Performance and Reforms
125 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 06 Chapter
126 06 DEVELOPMENT FINANCE MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
6.1 Overview package. In particular the increase in the VAT threshold to Rs.25 million per month from Rs.1 The Small and Medium-sized Enterprises million per month, together with the removal Sector (SMEs) and Micro Enterprises (MEs) are of Nation Building Tax (NBT) and the exemption a significant part of the country’s economic of the Agricultural Sector from corporate landscape. However, the SMEs and MEs in taxes is noteworthy, given that most SMEs are the last few years were faced with a number agriculture related. At the same time, the risk of issues due to many factors including the to the Banks too has been mitigated with CBSL continuous slow growth in the economy, to providing a guarantee on the debt provided to the complex tax system and the unfavorable SMEs and MEs. weather patterns. Lack of access to low cost financing has been a perennial issue that has The Debt Relief Package introduced in January remained unresolved given the reluctance of 2020 (CBSL Circular No. 02 of 2020 dated commercial banks to lend based on a business 30.01.2020) was designed to complement the proposal as opposed to collateral led lending. fiscal incentives provided in December 2019. This scheme was to not only support those To support access to finance of SMEs, the SMEs and businesses that are performing well, Ministry of Finance and the Central Bank of Sri but also those entities that have not been able Lanka (CBSL) have been implementing several to service their dues to Banks due to structural programmes including refinance schemes, issues including the drought that prevailed SME concessionary loan schemes such as for almost 7 seasons, the slowdown in the “Saubhagya” in the last few years. Similarly economy. This package also supported the the “Enterprise Sri Lanka” loan schemes were Banks to improve the quality of their portfolio also established for the same purpose. As and also the provision of a guarantee from the such almost 22 loan schemes were launched CBSL, mitigates possible credit risk that banks covering a cross section of the society, with the will be undertaking. Government contribution often being made as an interest subsidy. As such, with the implementation of this package, nearly 13,500 number of requests Chapter 06 Chapter However, the introduction of these schemes made to the Banks at the end of February alone were not sufficient to support the SMEs 2020. Since this package was implemented and the MEs and increase their contribution to before the COVID-19 affected Sri Lanka, the the growth path, given that the entities have CBSL augmented and expanded this package by then were not fully functional due to the with the introduction of Circular No 04 of above noted issues and also in sectors such 2020 and No. 05 of 2020 dated 24.03.2020 as construction, the Government’s inability and 27.03.2020 respectively. The new package to meet its dues on time created liquidity has expanded its scope by also including self- constraints on the SMEs in that sector which led employment businesses and individuals as to most of these SMEs already non-operational, well as expanding the participatory financial and with borrowings from banks not being institutions by including licensed finance serviced. The increase in the Non-Performing companies and specialized leasing companies. Loan (NPL) Ratio of the banking sector to All requests by the customers are to be almost 4.7 percent in 2019 from 3.4 percent in made by 15.05.2020. It is noted that given 2018 needs to be carefully looked at specially the existence of a mechanism to support all in the background almost 25 percent of the businesses, the additional cost that is to be NPLs being due to SMEs and MEs. borne due to COVID-19 has already been inbuilt into the fiscal space. At the same time, the Thus the decision of the Government in post initial liquidity infusion of Rs.50 billion will be November 2019, to simplify the tax system, done by the CBSL. while also increasing the Value Added Tex (VAT) threshold for SMEs and MEs from Rs. At present there are three refinance loan 3 million per quarter to Rs.25 million per schemes that are in operation financed quarter, and the introduction of the “Debt by multilateral and bilateral development Relief Package” simultaneously provided the agencies. These schemes are: MSMEs with a more wide ranging stimulus
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1. Small and Medium Enterprise Line of the recommendation of National Housing Credit (SMELoC) financed by the Asian Development Authority (NHDA) recording a Development Bank amounting to US$ 175 Non performing ratio of 3.5 percent or Rs. 138 million of debt and US$ 9.5 million worth a million of loans have not been serviced. grant. 2. Rooftop Solar Power Generation Line of Table 6.1 | Progress of interest subsidy loan schemes Credit (RSPGLoC) financed by the Asian as at 31st December 2019 Development Bank amounting to US$ 50 Rs. Million million 3. E-Friends Programme (Pavithra Ganga) Amount Interest No. of Subsidy financed by Japan International No. Loan Scheme Disbursed Beneficiaries Paid Cooperation Agency (JICA) amounting to (Rs. Mn) (Rs. Mn) Rs. 5.2 billion 1 Sonduru Piyasa 21,088 4,198.6 96.6 As has been the case, in 2019 as well, several 2 Govi Navoda 3,276 2,117.5 79.3 mechanisms were used in supporting both the 3 Ran Aswenna 12,475 16,644.5 481.7 farmer and the consumer and they include the 4 Riya Shakthi 914 2,743.1 188.4 imposition of Maximum Retail Prices (MRP), 5 Rivi Bala Savi 1,307 444.3 15.8 adjustment of taxes and increasing access to 6 Jaya Isura 2,591 50,161.5 1,622.2 various important commodities by using the Government retail chains such as Sathosa, 7 Madya Aruna 737 232.0 18.4 provision of fertilizer at a subsidized rate of 8 Green Loan 326 788.8 .. Rs. 500.00 and the subsequent decision post 9 Erambuma 178 235.0 6.9 November 2019, to provide fertilizer free to the 10 Diri Saviya 447 314.6 1.1 paddy farmers. 11 Home Sweet 678 2,341.1 .. Home 6.2 Financial And Technical Support 12 Rekawarana 7 31.4 .. For SMEs 13 Singithi Pasala 34 32.4 0.0 Chapter 06 Chapter 14 City Ride 7 42.1 0.3 The introduction of the “Debt relief scheme” in the latter part of 2019 provided the SMEs 15 My Future 275 240.7 0.0 with the much needed support at a time 16 Sihina Maliga 91 517.8 .. when the SMEs and the MEs have found it 17 Working 109 6,633.5 9.1 difficult to operate given specially to their Capital inability to finance the debts. This was a more 18 Sancharaka 1,225 551.6 5.5 Poddo comprehensive package which focused on Total 45,765 88,270.5 2,525.2 businesses rather than on individuals. As such Source: Department of Development Finance this scheme, while ensuring that the debt relief provided allowed the businesses to meet their obligations on the existing debt also provided 6.2.1 Refinance Loan Schemes access to working capital support so that businesses could revive their activities. Currently, there are three loan schemes that are financed by Multilateral Agencies implemented While the “Enterprise Sri Lanka” loan schemes through the Ministry of Finance and the Ministry aimed at supporting businesses it did not focus of Mahaweli Development & Environment. particularly on the factors that were inhibiting These are the Asian Development Bank funded, businesses to function including indebtedness Small and Medium-sized Enterprises Line of and lack of working capital. However, at the Credit scheme and the Rooftop Solar Power close of 2019, Rs. 88,270.5 million of loans had Generation Line of Credit scheme while the been provided. Of the total loans provided, E-Friends Programme (Pavithra Ganga) funded through the Government banks the NPL ratio by JICA is being implemented collaboration stands at around 1.2 percent with the loans with the Ministry of Mahaweli Development & provided under the “Sonduru Piyasa” for the Environment. construction and rehabilitation of houses with
129 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
BOX 6.1 | Debt Relief Package for Revitalizing the Small and Medium-sized Enterprises (SMEs)
In order to re-energize the SMEs, which were closed down or not performed in full capacity due to the unfavorable banking rules and regulations, and poor financial management, a “Debt Relief Package” was introduced with special emphasis on providing concessions for their financial commitments with the banks. Accordingly, the Government has introduced special concessions to those SMEs such as, rescheduling the existing loans with more attractive concessions i.e., granting a one-year grace period, writing off the total penal interest, doubling the balance tenor of the loans, and providing working capital loans to restart their businesses. In addition to that one year capital moratorium, new investment and working capital loans are also provided for the SMEs who are serving their term loans properly. This will be an invaluable opportunity for both types of SMEs to restart or expand their business activities. Under this package, around 13,500 SMEs including rice millers have submitted their requests to both private and public banks and the requests are being treated by the banks. The requests submitted by the SMEs as at 29.02.2020 are as follows.
Performing Non-performing Bank Category (No of Category (No of Total Loans) Loans.) People’s Bank 738 456 1,194 Bank of Ceylon 3,139 2,487 5,626 Regional Development Bank 279 495 774 Seylan Bank 293 308 601 Hatton National Bank 1,391 403 1,794 Commercial Bank 1,029 596 1,625 DFCC Bank 746 236 982 National Development Bank 371 388 759 Union Bank 120 80 200 Chapter 06 Chapter Total 8,106 5,449 13,555
These initiatives are very important to support the local SMEs who are in the declining stage of their businesses to cycle back to the growth stage. Further, it was very useful to manage the Government paddy purchasing programme since the most Small and Medium Scale Paddy Millers were benefited by this package. This will eventually help to accelerate the country’s economic growth while ensuring the social welfare of the country as well.
Small and Medium Enterprises Line of the Government requested another round of Credit additional financing and the ADB has agreed to provide US$ 65 million, out of which US$ 45 The Small and Medium-sized Enterprises Line of million would be to support the continuation Credit (SMELoC) US$ 175 million was successfully of the ongoing SME credit line and US$ 20 utilized including US$ 100 million initial million would be earmarked for providing an allocation plus US$ 75 million worth of additional affordable credit line to tea smallholders as allocation. In addition to that, US$ 9.5 million of a pilot component facilitating, new planting, Women Entrepreneur Finance Initiative (We-Fi) replanting, infilling, and mechanization. The Grant is also attached to this loan scheme for SME Component will be blended with the supporting women entrepreneurs by blending remaining US$ 2.95 million of We-Fi grant. US$ with the credit line. Out of US$ 9.5 million of 1.25 million grant from Japan Fund for Poverty the grant component, US$ 6.55 million has Reduction will also be provided to support tea been utilized so far. In order to fully utilize the smallholders for replanting and new planting. remaining balance of the grant component and considering the market demand for SME credit, With the outbreak of COVID-19, the immediate financial needs for SMEs have been sharply rising
130 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 and they have been to minimize the negative the affected SMEs. Accordingly, US$ 165 million impacts on business disruptions and retain has allocated as ‘‘Additional Financing II’’ of the employment. By considering these facts, the SMELoC project. Government requested an emergency support from ADB and agreed to top-up the US$ 100 In terms of the performance, Rs. 28,774 million million; SME Emergency Response Component has been disbursed among 3,491 beneficiaries to the ongoing SMELoC for granting short- by utilizing the SMELoC and the We-Fi grant as term working capital loans for re-energizing at 31.03.2020.
Table 6.2 | Progress of the SMELoC as at 31st March 2020 Loan We-Fi Grant We – Fi Grant Loan Amount Disbursement % Allocated Disbursement % Name of PFI Allocated Disbursed Amount Disbursed (Rs. Mn) No. of Amount No. of Amount Loans (Rs. Mn) (Rs. Mn) Loans (Rs. Mn) Bank of Ceylon 2,785.2 596 2,785.2 100.0 168.6 194 168.6 100.0 People's Bank 2,014.8 284 2,014.8 100.0 36.3 20 36.3 100.0 Regional Development Bank 2,785.2 1,185 2,763.8 99.2 116.5 209 116.5 100.0 DFCC Bank 3,410.2 244 3,370.6 98.8 126.1 34 121.1 96.1 Sampath Bank 2,770.6 158 2,725.4 98.4 142.7 33 139.7 97.9 Hatton National Bank 3,410.2 257 3,382.0 99.2 80.5 28 69.5 86.4 Commercial Bank 2,785.2 186 2,779.9 99.8 155.6 42 155.6 100.0 National Development Bank 4,607.0 386 4,413.6 95.8 177.9 51 137.0 77.0 Seylan Bank 1,636.7 93 1,636.7 100.0 126.6 23 126.6 100.0 Nations Trust Bank 2,014.8 102 1,810.6 89.9 27.2 6 20.7 75.9 Total 28,220.0 3,491 27,682.4 98.1 1,158.0 640 1,091.7 94.3 Source: Department of Development Finance
Rooftop Solar Power Generation Line of initially allocated US$ 50 million for this project Credit and it is being implemented through ten
(10) Participatory Financial Institutions (PFIs) 06 Chapter Given the importance placed on the use i.e. People’s Bank, Bank of Ceylon, Regional of renewable energy sources specially in Development Bank, Commercial Bank of Ceylon the generation of electricity, the Rooftop PLC, Sampath Bank PLC, Hatton National Bank Solar Power Generation Line of Credit was PLC, DFCC Bank PLC, National Development implemented on a fast tracked basis with Bank PLC, Nation’s Trust Bank PLC and Seylan the objective of supplying of 200 MW by the Bank, which have been selected by the ADB. year 2020 and 1,000 MW by the year 2025 to As a result, in 2019 Rs. 2,575 million has been the National Grid through installation of Solar disbursed among 1,538 beneficiaries to install Power Generation Systems in all possible the roof top solar panels. residential and commercial buildings. ADB
Table 6.3 | Progress of the RSPGLoC as at 12th May 2020 Rs. Million Loan Disbursement Name of PFI Loan Amount Allocated % Disbursed No. of Loans Amount Bank of Ceylon 535.13 245 294.64 55 People's Bank 261.97 116 181.37 69 Regional Development Bank 174.65 30 35.88 21 DFCC Bank PLC 261.97 88 205.23 78 Sampath Bank PLC 479.95 257 407.28 85 Hatton National Bank PLC 719.60 215 411.87 57 Commercial Bank of Ceylon PLC 807.61 306 533.10 66 National Development Bank PLC 477.97 112 248.78 52 Seylan Bank PLC 537.31 133 202.21 38 Nations Trust Bank PLC 261.97 36 54.50 21 Total 4,518.1 1,538 2,574.9 57 Source: Department of Development Finance
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6.2.2 Non-Financial Support Framework Conditions, Access to Finance, Programmes Access to Technology and Markets, Innovation and Entrepreneurships with aiming to There are two (02) ‘non-financial support increase the competitiveness, inclusiveness programmes’ i.e. National Credit Guarantee and environmental sustainability of small and Institution (NCGI) and Formation of SME medium-sized enterprises. It was started in Companies. 2012 with a Euro 2.785 million grant and the first of the Programme was successfully completed Although various Government institutions have and the second phase is to be completed by implemented the credit guarantee schemes, 31st December 2020. which were specific to various sectors, by periodically, there is no proper national level Under the second phase, it was expected to institution to offer long term credit guarantees provide technical assistance for the relevant for small and medium scale entrepreneurs. SMEs specially located in lagging regions with Therefore, the Government has proposed to the support of local and foreign expertise. An establish this NCGI as a sustainable solution additional budgetary provision of Euro 5.4 to the collateral issue of the SME Sector and million has been provided through the GIZ invited the donors for obtaining financial grant for this phase and Rs.37 million has been and technical support. Accordingly, the provided to incur any related expenditure to ADB has agreed to provide a US$ 100 million be borne by the GOSL. At the end of year 2019, loan from its Ordinary Capital Resources as GIZ has spent around Rs. 250 million for the the seed capital of the proposed NCGI and SME sector development activities. required technical support for establishing it. The initial negotiations were carried out with 6.3 Supports to Agricultural the ADB regarding the establishment of this Development institution and it was agreed to establish this institution as an independent body through 6.3.1 Fertilizer Subsidy in 2019 and an Act of Parliament in order to enhance the Beyond 2020
Chapter 06 Chapter sustainability of this institution. The fertilizer subsidy is availed to paddy and Under the SME company formation scheme, other crops, in order to obtain an optimum level the Government expected to support young of yield with a desired level of soil conservation. small and medium entrepreneurs who are living The cost of fertilizer imports during 2019 was in lagging regions to establish their own SME Rs. 39,570 million which is almost 1.1 percent companies or societies under the Companies of the country’s total imports. The Government Act or Society Ordinance with the financial and has identified this programme as a key technical support from the Government. As the incentive to be readdressed while introducing pilot project, it was started in the Monaragala environmental and social friendly agricultural District and the German International inputs and practices from 2020 onwards. Cooperation (GIZ) provided the required technical assistance for the selected groups Fertilizer subsidy for paddy for formation of companies or societies under this programme. Accordingly, eleven (11) SME Under this programme, three major fertilizer companies were identified from Monaragala types used for paddy in their straight form District. Out of which, seven (07) companies were made available at a subsidized price of have already been registered and they are in Rs. 500.00 per 50 kg bag. Accordingly, Urea, the process of obtaining loans to develop these Triple Super Phosphate (TSP) and Muriate of newly established SME companies. Potash (MOP) are issued through the Agrarian Development Centers which have a wide 6.2.3 GIZ – SME Development spread distribution network. The entire paddy Programme (second) fertilizer distribution is carried out by the two state fertilizer companies. GIZ – SME Development Programme covers four fields of activities; Policies and Institutional
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The average subsidy borne by the Government Figure 6.1 | Fertilizer Subsidy for Paddy – 2019 on a 50 kg bag of paddy fertilizer is around 86 4,000 percent of the market price. 3,500 3,000 2,500 During 2018/19 Maha Season, a quantity of 3,256 2,000 2,947 2,878 196,172 mt of fertilizer has been distributed 1,500 1,000 among 916,658 farmers and during 2019 Yala Price of a 50kg bag (Rs.) 500 500 500 500 Season, a quantity of 103,311 mt of fertilizer has - Urea TSP MOP been distributed among 470,286 farmers. FerƟlizer Type
Price paid by farmer Subsidy incurred by the Government Source: National Fertilizer Secretariat
Table 6.4 | Progress of the Distribution of Paddy Fertilizer – 2019 2018/19 Maha Season 2019 Yala Season No of Distributed fertilizer quantity No. of Distributed fertilizer quantity District farmers Cultivated (mt) farmers Cultivated (mt) who extent who extent received (Ha) received (Ha) fertilizer Urea TSP MOP Totalfertilizer Urea TSP MOP Total Colombo 7,412 2,842 266 140 295 701 2,538 842 79 41 87 208 Gampaha 26,242 9,671 1,048 413 918 2,379 13,664 5,315 601 220 478 1,299 Kalutara 22,979 9,565 910 479 1,001 2,391 11,778 4,955 463 244 510 1,217 Kandy 28,048 12,292 2,042 556 762 3,360 17,700 7,846 1,402 362 484 2,248 Matale 30,815 17,095 3,210 782 787 4,779 9,737 5,494 1,036 251 303 1,590 Nuwara Eliya 11,379 4,739 873 225 266 1,364 6,360 2,609 467 112 134 712 Galle 10,482 4,683 421 225 458 1,104 6,751 2,997 286 145 312 742 Matara 25,815 10,942 1,574 487 891 2,952 20,605 9,126 1,301 395 725 2,421 Hambantota 41,049 33,347 6,882 1,626 1,797 10,306 37,775 31,913 6,646 1,565 1,724 9,935 Kurunegala 150,919 71,589 13,824 3,327 3,813 20,965 79,178 33,418 6,492 1,554 1,784 9,831 Puttalam 21,149 16,336 3,184 768 864 4,816 8,878 7,711 1,548 368 411 2,326
Anuradhapura 118,395 109,551 20,096 4,713 5,259 30,068 28,263 22,032 4,997 1,113 1,393 7,502 06 Chapter Polonnaruwa 64,066 65,392 13,454 3,158 3,386 19,998 58,534 60,916 12,432 2,893 3,116 18,441 Badulla 39,243 23,460 4,565 1,089 1,229 6,883 24,900 14,576 2,832 656 758 4,245 Monaragala 50,213 32,044 5,907 1,374 1,609 8,890 17,040 10,653 2,135 521 571 3,227 Ratnapura 23,357 11,777 1,823 502 791 3,116 14,253 7,410 1,357 343 461 2,162 Kegalle 16,310 4,482 368 194 409 971 7,928 893 209 110 231 551 Ampara 73,078 73,245 14,869 3,478 3,870 22,218 50,671 21,564 11,249 2,599 2,871 16,719 Trincomalee 40,052 15,517 7,512 1,756 1,953 11,221 18,377 17,538 3,678 860 949 5,488 Batticaloa 40,435 49,095 9,106 2,059 2,426 13,591 18,293 23,166 4,815 1,143 1,257 7,215 Vavuniya 13,576 16,454 3,112 769 863 4,743 2,400 1,939 393 96 105 594 Jaffna 17,253 9,980 1,628 345 444 2,416 2,011 955 156 33 42 231 Mannar 13,714 17,733 3,679 874 963 5,517 2,070 1,424 300 70 77 448 Mullaitivu 13,561 16,497 3,138 734 842 4,714 4,482 4,782 994 235 259 1,489 Kilinochchi 17,116 24,551 4,511 1,004 1,195 6,711 6,100 7,823 1,659 387 425 2,471 Total 916,658 662,880 128,003 31,078 37,092 196,172 470,286 307,897 67,526 16,316 19,470 103,311 Source: Department of Agrarian Development
Fertilizer subsidy for crops other than Rs. 1,150.00 for crops other than paddy. This paddy initiative enables the farmers to expand their cultivating capacity from one crop to multiple Given the importance of fertilizer in the crops and to increase the productivity of crops agriculture value chain, the Government in other than paddy. Under this programme, 2019 continued the policy introduced during the subsidy borne by the Government, as the interim Government in 2018 to provide a percentage of the market price on a 50 kg fertilizer at the concessionary prices of; a 50 bag of straight fertilizer, lies between 48 – 88 kg bag of any type of straight fertilizer to Rs. percent. 1,000.00 and a 50 kg bag of mixed fertilizer to
133 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Figure 6.2 | Fertilizer Subsidy for Crops Other than Paddy Smart Agriculture - 2019
9000 The Government has announced from 2020
8000 onwards in line with the policy as stated in the
7000 “Vistas of Prosperity and Splendour” organic
6000 and inorganic fertilizer will be introduced in 5000 place of the already used chemical fertilizer. 7,301 4000 This transformation in agriculture will be further
3000 4,661 3,910 Price of a 50 kg bag (Rs.) Price of a 50 kg complemented by the introduction of practices 3,055 2,680 2000 2,647 2,086 1,987 and systems including precision technology 906 1000 1,082 and development of new seed varieties. As an 0 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 Urea (P) TSP MOP SOA DAP Kieserite ZS ES SOP CAN initial step, a pilot project shall be launched for FerƟlizer Type promoting environmental friendly fertilizer and Price paid by farmer Subsidy incurred by the Government the Government has agreed to provide Rs. 250 Source: National Fertilizer Secretariat million to implement this pilot project.
The state owned fertilizer companies which concentrate solely on the fertilizer for paddy At the same time, in continuation of the existing also accounts for 10 percent of supply of the policy, paddy farmers shall be provided fertilizer for other crops while the private fertilizer at no cost, commencing from the sector fertilizer suppliers have contributed to 2020 Yala season. the remaining 90 percent. During 2019, a total volume of 297,896 mt of fertilizer was distributed 6.3.2 Agricultural Loans under the fertilizer subsidy for crops other than paddy. New comprehensive rural credit scheme
Figure 6.3 | Fertilizer Distribution of Crops other than The New Comprehensive Rural Credit Scheme Paddy – 2019 (mt,%) (NCRCS), which was introduced by the CBSL
Fruits Other at an effective interest rate of 7 percent with 12,958 16,794 Chapter 06 Chapter 4% 6% the government providing a 5 percent interest subsidy, continued into 2019 as well. The Minor Export Crops 13,249 NCRCS scheme provides an interest subsidy 4% to cultivate paddy and other subsidiary crops.
Tea The CBSL facilitated the implementation of 130,362 44% the programme through PFIs using their own funds where, farmers are financially supported Vegetables 71,780 to cultivate 33 crops including paddy, chilies, 24% onion, pulses, oil seeds, root and tuber, ginger and vegetables. Potatoes 10,364 Rubber 3% Coconut 7,874 34,515 3% 12%
Source: National Fertilizer Secretariat
Table 6.5 | Overall Progress of Cultivation Loans under NCRCS, 2013–2019 Details 2013 2014 2015 2016 2017 2018 2019 Loans released (Rs. Mn) 8,189 6750 7,138 8009 7,845 9,022 10,370 Extent of land cultivated (Acres) 279,521 240,921 265,719 274,997 236,139 275,714 1,563,988 Number of beneficiaries 96,381 86,143 90,533 87,060 71,397 78,215 86,301 Sources: Regional Development Department, Central Bank of Sri Lanka
During 2019, the Government has paid Rs. 220 of 10 percent over 2018 at 78,215. The total loan million as interest subsidy for the loans granted disbursement increased from Rs. 9,022 million by PFIs. The 86,301 farmers had benefitted from in 2018 to Rs. 10,370 million in 2019. this scheme in 2019 which almost an increase
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Table 6.6 | Loan Disbursements under NCRCS-2019
Maximum Loan Maximum land No. of Loans Amount Released Extend of Land Crop Limit per acre (Rs.) units (Acres) Granted (Rs. Mn) (Acres) Paddy – 59,065 6,675 1,433,490 Irrigated 30,000 10 Rain fed 32,000 10 Maize 34,000 10 12,743 1,337 110,418 Potato 252,000 2 4,489 1,090 5,370 Onion 140,000 2 6,383 967 9,602 Chilies 88,000 2 1,284 120 1904 Vegetables 31,000–119,000 2 1,655 127 2,051 Other 70,000 2 682 54 1,154 Total 86,301 10,370 1,563,988
Source : Regional Development Department, Central Bank of Sri Lanka
Figure 6.4 | Loans Granted under NCRCS in 2019 promoted as import substitution crops to -District Wise minimize foreign exchange outflow.
16000 Dairy development loan scheme 14000 11,904 12000
10000 Commercial Scale Dairy Development Loans 8,191 8,364 8,202 7,636 8000 7,390 Scheme introduced in 2013, with the objective 6000 4,242 of establishing at least 1,000 farms with a 2,567
No. of Loans Granted No. of 4000 2,522 2,054 1,849 1,614 331 minimum of 25 cows per farm continued 2000 1,220 1,045 136 990 15 669 104 1 0 its operation into 2019 as well. The scheme
facilitated the medium to large scale dairy 06 Chapter developers by providing credit facilities up to District a maximum Rs.25 million at an interest rate of Source: Regional Development Department, Central Bank of Sri Lanka 6 percent per annum with the five years tenure including a grace period of 6 months. Since the Figure 6.5 | Loan Granted by Crop Wise – 2019 effective interest rate for the PFIs is 12 percent, the Government has paid Rs. 73 million to the Chilies Vegetables 2% 2% Other selected PFIs to fill the interest gap in the year Onion 1% 2019. 7% Potato The progress of this loan scheme as at 31.12.2019 5% is shown in Table No. 6.7.
Maize 15% Table 6.7 | Progress of Dairy Development Loan Paddy 68% Scheme No. of Loan Amount Subsidy Paid Year Beneficiaries (Rs. Mn) (Rs. Mn) 2013 112 202.2 1.8
Paddy Maize Potato Onion Chilies Vegetables Other 2014 846 950.9 41.9 2015 1,950 1,227.8 80.1 Source: Regional Development Department, Central Bank of Sri Lanka 2016 3,112 1,633.5 134.0 2017 1,671 1,648.5 91.0 2018 288 277.9 4.3 Almost 68 percent of the loans had been 2019 25 38.3 73 obtained for the paddy sector, followed Total 8,004 5,979.1 426.1 by maize and vegetable which have been Source: Regional Development Department, Central Bank of Sri Lanka
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6.3.3 Government Storage Facilities for Those Grain Preservation Centers facilitate Agricultural Products farmers to access financial services from the financial markets with the produce being used The grain preservation centers which was as collateral. Service providers are selected for initiated in 2013 with a World Bank grant has the management of those centers, following the now been established in 6 districts namely, Government procurement procedure. During Anuradhapura, Monaragala, Mannar, Ratnapura, 2019 almost 2,955 mt of grain such as paddy, Kilinochchi and Polonnaruwa providing seed paddy, maize, soya bean, peanut and essential services to the farmers during paper have been stored at these warehouses. harvesting period. The services provided by The Regional Development Bank manages all 6 these centers include drying, cleaning, and centers at a cost of approximately Rs. 5 million testing of grain harvests whilst also providing per year per center. During the period from storage facilities. A total storage capacity of 2015 – 2019, the Government has paid Rs. 88.8 around 48,000 mt is available in those centers million to the service provider for managing to store the products such as, paddy, maize, these centers. On the other hand the farmers soya bean, sesame, black gram, pepper and have been able to increase their incremental peanut. income by Rs. 66.7 million by selling their harvest at suitable time.
Table 6.8 | The Status of the Grain Preservation Centers from 2015 – 2019
Income Earned (Rs. Mn) Stored No. of Total Operation Types of storing Incremental Name of the Center Capacity Registered Government Expenditure Period grains income of Total (Mt) Farmers income (Rs. Mn) Farmers
Galenbindunuwewa 2015–2019 1,424 paddy, maize, 875 19.42 3.0 22.4 22.0 soybean, sesame, black gram,
Buttala 2016–2019 566 paddy, 774 6.94 4.3 11.2 21.6
Chapter 06 Chapter maize,pepper, peanut
Nannatan 2017–2019 2,166 paddy 177 24.97 7.2 32.2 18.9 Karachchi 2018–2019 826 paddy 160 1.73 5.3 7.0 9.2 Medirigiriya 2018–2019 471 paddy, maize 90 13.36 3.7 17.1 11.0 Embilipitiya 2018–2019 2.78 paddy, 28 0.32 0.2 0.5 6.1 maize,pepper
Total 2,104 66.7 23.6 90.4 88.8
Source: Department of Development Finance
6.3.4 National Crop Insurance
The National Crop Insurance (NCI) was compensation for crop damages in cultivated introduced, extending the insurance coverage land area of 51,148 acres within 2018/2019 Maha for other commercial crops such as maize, soy Season. bean, big onion, potatoes, chilies and also Table 6.9 | Progress of the National Crop Insurance paddy. The NCI provided a maximum insurance Scheme 2018/19 Maha Season cover of Rs. 40,000 per acre. Rs. Million No. of Although it was envisaged that the insurance District/Area Expenditure Beneficiaries premium will be borne by both the farmer and the Government, a subsequent decision Anuradapura 3,097 112.3 has led to the entire premium being borne Monaragala 1,850 42.8 by the Government. During the year 2019 Ampara 5,183 163.3 Rs. 963 million was paid to 29,880 farmers as
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Table 6.9 | Progress of the Compulsory Crop Insurance Therefore, the General Treasury had to bear the Scheme 2018/19 Maha Season contd... total cost of the farmer’s pension and provided Rs. Million around Rs. 275 million per month for AAIB to No. of provide the pension on time. District/Area Expenditure Beneficiaries The fishermen’s pension scheme is also Batticola 1,103 45.0 implemented by the AAIB. Accordingly, 69,049 Vavuniya 88 2.5 fishermen have contributed to the scheme and Mannar 833 21.6 Rs. 67 million has been distributed among 4,755 Polonnaruwa 966 37.4 fishermen under this scheme as their monthly Mullaithivu 3,754 124.7 pension. The fishermen’s pension is being Maho 503 9.8 operated as a self – managed scheme without Badulla 845 24.0 any additional cost to the General Treasury. Jaffana 1,041 15.6 Trincomalee 1,959 69.9 Figure 6.6 | Performance of Farmers Pension Scheme - 2019 Matale 451 9.9 160,000 275,000 Kurunegala 278 4.3 159,000 270,000 Kilinochchi 3,688 190.7 158,000 265,000
Manampitiya 640 16.3 157,000 260,000
Tambuttegama 488 11.5 156,000 Rs. 000'
No. of Pensioners No. of 255,000 Puttalam 518 15.1 155,000
250,000 Kandy 194 2.6 154,000
Matara 679 14.2 153,000 245,000 Jan. Feb. Mar. Apr. May June July Aug. Sep. Oct. Nov. Dec. Dehiattakandiya 439 7.3 Months No. of Pensioners Pension Payments (Rs. 000') Kegalle 158 1.4 Source: Agriculture and Agrarian Insurance Board Galle 122 3.4 Hambantota 387 9.2 Figure 6.7 | Performance of Fishermen’s Pension Chapter 06 Chapter Gampaha 494 7.4 Scheme 2019 4,800 6,200 Kaluthara 23 0.1 4,750 6,000 Rathnapura 47 0.4 4,700 4,650 5,800 Nuwaraeliya 52 0.5 4,600 5,600 4,550 Total 29,880 963.1 5,400 4,500 Source : Agricultural and Agrarian Insurance Board Rs. 000' 4,450 5,200 No. of Pensioners No. of 4,400 5,000 4,350 6.3.5 Social Security for Farmers 4,800 4,300 4,250 4,600 Pension scheme for farmers and Jan. Feb. Mar. Apr. May June July Aug. Sep. Oct. Nov. Dec. Months fishermen as a social security system No. of Pensioners Pension Payments
Source: Agriculture and Agrarian Insurance Board The Agriculture and Agrarian Insurance Board (AAIB) has established a Farmers Pension 6.4 Assistance to Plantation Sector Scheme to provide a safeguard for elderly farmers. Approximately 959,254 farmers have 6.4.1 Assistance to the Smallholder registered under the farmer’s pension scheme Plantation Sector (paid monthly) and in 2019, Rs. 3,164 million has been paid out as pensions. This scheme was The smallholder planters played a significant initially established as a contributory pension role in the entire plantation sector in the last scheme but sufficient funds were not retained two to three decades, attributing to on average since the benefits were increased while more than 60 percent in the Tea, Rubber and farmers’ contribution remain unchanged. Coconut sectors.
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Table 6.10 | Performance of Small Holder Plantation Sector, 2012 – 2019 Tea Rubber Coconut Year Total Production Total Production Total Production Extent (Ha) Extent (Ha) Extent (Ha) (Kg Mn) (Kg Mn) (Mn nuts) 2012 203,020 328 130,780 152 394,836 2,411 2013 202,408 340 132,904 130 394,836 2,061 2014 203,113 338 133,075 99 394,836 2,890 2015 202,839 329 132,799 89 394,836 3,027 2016 202,022 292 132,693 79 440,000 3,098 2017 201,137 308 130,349 83 440,000 2,449 2018 200.001 309 126,685 83 455,430 2,623 2019 200,351 300 125,703 75 443,713 3,086 Source: Ministry of Plantation Industries, Department of Rubber Development, Sri Lanka Tea Board
In 2019, Rs. 500,000 per hectare was given by the for the re-planting and new planting of rubber. The Government for tea re-planting and new planting under cost of this subsidy scheme amounts to around Rs. the plantation subsidy programme and Rs. 175,000 and 1,142.15 million and approximately 27,134 numbers of Rs. 150,000 per hectare were also given respectively beneficiaries have received the subsidy in 2019.
Table 6.11 | Progress of the Re-planting and New Planting Subsidies Provided to Tea and Rubber Smallholder Sector Rs. Million Re-Planting Subsidy New Planting Subsidy Tea Rubber Tea Rubber Year No. of Subsidy No. of Subsidy No. of Subsidy No. of Subsidy Beneficiaries Amount Beneficiaries Amount Beneficiaries Amount Beneficiaries Amount 2014 16,555 258.1 2,004 219.1 3,381 67.0 2,247 213.5 2015 17,252 420.1 852 173.4 4,732 128.1 1,076 189.8 2016 24,995 531.9 668 337.5 3,759 46.7 942 179.9 2017 20,271 464.3 1,165 346.8 3,416 60.2 657 173.6 2018 9,254 287.3 1,114 205.5 5,499 58.8 695 110.6 Chapter 06 Chapter 2019 20,120 710.2 1,246 255.0 3,632 92.3 2,136 84.7 Source: Ministry of Plantation Industries
6.5 Food Security
6.5.1 Paddy Sector
Paddy purchasing programme of the Government
The annual paddy production from 2000–2019 is given in Figure No. 6.8.
Figure 6.8 | Total paddy production 2000 – 2019 6000 4813 4621
5000 4592 4420 4301 3930 3894 3875 3846
4000 3652 3381 3341 3246 3131 3067 on (000'Mt) 2860 2860 Ɵ 2695
3000 2628 2383
2000
Paddy Produc 1000
0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Year
Source: Department of Census and Statistics
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Annual paddy production for the year 2019 was Table 6.13 | Government Guaranteed Price of Paddy 4,592,056 mt, an increase of around 17 percent Guaranteed Price per Kg compared to 2018. As has been the case, the Year/Season Nadu Samba Keeri Government intervention was prevalent in (Mt) (Mt) Samba 2014/15 Maha 45.00 45.00 50.00 2019 as well through the Government Paddy 2015 Yala 45.00 50.00 50.00 Purchasing Programme. In the 2018/2019 Maha 2015/16 Maha 38.00 41.00 50.00 Season, this programme was implemented with 2016 Yala 38.00 41.00 50.00 the District Secretaries/Government Agents 2016/17 Maha 38.00 41.00 50.00 with the assistance of the Paddy Marketing 2017 Yala 38.00 41.00 50.00 Board under the supervision of the Ministry of 2017/18 Maha 38.00 41.00 50.00 Agriculture, Rural Economic Affairs, Livestock 2018 Yala 38.00 41.00 50.00 Development, Irrigation and Fisheries and 2018/19 Maha 38.00 41.00 50.00 Aquatic Resources Development. Further, it 2019 Yala 38.00 41.00 50.00 was directly monitored by the General Treasury 2019/20 Maha 50.00 50.00 50.00 to ensure the maximum utilisation of public Source : Deparment of Development Finance funds and the sustainability of the programme. Accordingly, District Secretaries/Government Private sector intervention in paddy Agents have purchased at the Government purchasing during 2019 guaranteed price around 48,271 mt of paddy in the 2018/2019 Maha Season at a cost of Rs. In previous harvesting seasons before 2019, 1,886 million. However, in the 2019 Yala Season, paddy cultivation has been disrupted due the Government intervention was not required to a number of factors and the harvest has for purchasing paddy as the paddy farmers been relatively lower. Consequently, though received a higher price in the market. there was enough rice for consumption in the market during 2019, there was a slight Table 6.12 | Quantity of Paddy Purchased under shortage of paddy, with millers not being able Government Paddy Purchasing Programme Value to maintain sufficient buffer stocks. This drove Season Nadu Samba Total (Rs. the prices of paddy beyond the Government (Mt) (Mt) (Mt) Mn)
guaranteed price, with the paddy millers and 06 Chapter 2014/15 Maha and 2015 Yala 288,729 46,853 335,582 15,460 2015/16 Maha and 2016 Yala 102,839 54,580 157,419 6,195 intermediaries purchasing directly from the 2016/17 Maha and 2017 Yala – – – 0 farmer. However, the total number of loans 2017/18 Maha and 2018 Yala 6,682 5 6,687 254 granted to private sector by the banks in 2019 2018/19 Maha 31,522 16,749 48,271 1,886 for paddy purchasing was lower compared to 2019 Yala – – – 0 2018/19 Maha and 2019 Yala 31,522 16,749 48,271 1,886 2018. 2019/20* Maha 34,270 17,653 51,923 2,480 Grand Total 464,042 135,840 599,882 26,275 Source : Paddy Marketing Board • 2019/2020 Provisional Data
Table 6.14 | Comparison of the Granted Loan to Private Sector for Paddy Purchasing 2018/19 Maha 2019 Yala Total (2019) Total (2018) Bank Total Loan Total Loan Total Loan Total Loan No. of Amount No. of Amount No. of Amount No. of Amount Loans (Rs. Mn) Loans (Rs. Mn) Loans (Rs. Mn) Loans (Rs. Mn) People's Bank 12 120 16 224 28 344 95 1,157 Bank of Ceylon 358 16,493 152 8,976 510 25,469 530 27,021 RDB 8 17 9 19 17 36 96 383 Total for State Banks 378 16,630 177 9,219 555 25,849 721 28,561 Commercial Bank 595 2,357 419 2,986 1,014 5,343 1,026 3,870 Sampath Bank 107 927 122 995 229 1,922 125 2,062 DFCC Bank 19 583 21 592 40 1,175 92 2,483 Seylan Bank 4 37 24 190 28 227 86 1,082 National Development Bank 84 482 43 423 127 905 6 729 Hatton National Bank 86 489 74 415 160 904 308 2,823 People's Leasing & Finance PLC 6 39 8 24 14 63 10 32 Total of Private Banks and 901 4,914 711 5,625 1,612 10,539 1,653 13,081 other Financial Institutions Grand Total 1,279 21,544 888 14,844 2,167 36,388 2,374 41,642 Source : Respective Banks and Financial Institutions
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New initiatives to strengthen the As such, SME paddy millers have purchased Government Paddy Purchasing around 26,206 mt of paddy out of the total stock Programme of the paddy purchased amounting to 51,923 mt up to May 2020 under the Government Government policy on agriculture envisages Paddy Purchasing Programme. several activities and with regard to paddy since the 2019/2020 Maha Season, it has 6.5.2 Development Initiatives for been announced that the Government will Facilitating other Commercial Crops intervene and purchase any variety of paddy at a guaranteed price of Rs. 50.00 per kg with the Government policy since November 2019 has standard moister level of 14 percent. also focused on promoting cultivation and production of commercial crops i.e. dried With the slowdown in the economy and in chilies, maize, soy bean, green gram, cowpea, particular the dry weather that persisted for the onions, ginger, turmeric, peanuts, potatoes previous seasons, created a number of issues etc. and related agro based industries. While to the key stakeholders specially the farmers an import substitution regime is not envisaged, and SME paddy millers. As a result, many SME the non-utilisation of resources for cultivation of paddy millers closed down or have not been the aforementioned crops which is financially operating at full capacity driven mainly due viable, has created serious distortions and has to the less than average paddy harvest and resulted in an outflow of almost US$ 500 million also unprofessional financial management for imports of such crops. practices. While many of the SME paddy millers have not been able to service their debts, it is It is in this background, to support and also not simply due to the market conditions stimulate the local farmers to also engage in but many have found to be willful defaulters as the cultivation of such products that apart from well. the support extended through loan schemes and outreach services, the Government has However, the Government recognizing the role also temporarily halted in December 2019, the
Chapter 06 Chapter of SME paddy millers in the agriculture value import of certain products that has created chain, decided in 2019 to support the Paddy distortions in the market, with local brands not Purchasing Programme by providing funds from being able to realise its full potential such as the General Treasury. As such, Rs 460 million has Ceylon pepper due to imports of low quality been released in 2018/19 Maha initially, which similar products. In many ways the anti- is to be settled subsequently when the rice dumping laws although in existence since of is sold. At present around Rs. 290 million has late, has not been effective and requires further been recovered. In addition, a special working expansion and strengthening. capital loan was introduced for these millers in 2019/2020 Maha Season through banks under Spread of COVID-19 Coronavirus has the Debt Relief Package. accelerated the need to expand cultivation and a Special Task Force has been appointed for this Further, SME paddy millers could also be purpose. During the lockdown, the Saubhagya empowered through the new avenues opened Home Garden Programme was initiated. for them to participate in the Government Paddy Purchasing Programme under the 6.5.3 Cost of Living direct supervision of the District Secretary/ Government Agents of the respective Districts. The current Committee on Cost of Living better Accordingly, in 2019/2020 Maha Season paddy empowered to address the distortions in the with moisture levels between 14 percent to market that is inimical to both the consumer 22 percent has been purchased by District and the producer. Distortions are due to the Secretaries/ Government Agents through SME intervention of intermediaries to control prices paddy millers at Rs 44.00 per kg of any variety in of commodities, the mismanagement of post- addition to purchasing of paddy with standard harvest losses, non-availability of a proper crop moisture level of 14 percent at Rs 50.00 per kg calendar etc. of any variety.
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While some of the causes of distortion require a be sold at a price below the prevailed MRPs. more medium to long term policy interventions, Accordingly, around 40,000 mt of paddy the minimum guaranteed prices for producers, purchased in 2018/19 Maha Season has been together with a Maximum Retail Prices (MRPs) disposed by District Secretaries/Government for consumers has become instruments of Agents through PMB, of which around 26,000 the first line of defense. The Government has mt of rice was supplied to the market. The retail revised the guaranteed prices and the MRPs in price at the point of sale as recommended by line with market conditions. At the same time, the General Treasury for rice varieties are as the Government also utilized the Sathosa and follows: other Government related retail networks to ensure availability of food to the consumer Table 6.15 | Maximum Retail Prices of Rice During without any shortages. The following measures November, 2019 under the Programme of Milling were taken by the Government to control the Paddy – March 2020 cost of living during the year 2019. Retail Price Allowed under Rice Variety this Programme • MRPs were imposed on Samba, White (Rs per kg) Nadu and Red Nadu rice with effect from Keeri Samba 107.00 31.05.2019 as Rs. 85.00, Rs. 80.00 and Rs. Samba White 85.00 74.00 per kg respectively. Samba Red 85.00 • MRP on Rice was revised to Rs. 98.00 per Nadu White 80.00 kg of Nadu and Samba rice before the Nadu Red 74.00 year end festival season to make available Red Raw/ White Raw 77.00 rice at affordable price. Source : Deparment of Development Finance • SCL on maize was reduced from Rs. 20.00 to Rs. 10.00 per kg, w.e.f. 09.08.2019 for 6.6 Livestock Sector Development stabilizing the price of chicken which considerably contributes to the cost of 6.6.1 Dairy Sector living.
• SCL on dried chilies was reduced from Rs. The dairy industry has huge potential to 06 Chapter 25.00 to Rs. 5.00 per kg, w.e.f. 29.11.2019 contribute the economic development of as the world market prices of dried chilies the country and plays an important role were high. in alleviating nutritional poverty in all age • SCL on potato imports was reduced from groups and a main source of employment Rs. 50.00 per kg to Rs. 25.00 per kg, w.e.f. opportunities. 2019, the cattle and buffalo 25.01.2020 to bring down the retail prices populations in the country were recorded as in the market. 1.0 million and 0.3 million respectively. Total • SCL on fish was brought down from milk production in the country was 448 million Rs. 100.00 to Rs. 25.00 per kg, w.e.f. liters in 2019. Dairy production in the country 29.11.2019. has recorded positive growth during the last • SCL of Rs. 40.00 per kg on big onion was decade, especially after 2008. The contribution brought down to Rs. 1.00 per kg, w.e.f. of domestic milk production of the country for 03.11.2019. a year is below the total requirement of the milk and this deficit is met by imports, mostly Paddy disposal programme in the form of powdered milk. Total quantity of 92,602 mt of both full cream and skimmed With retail price of rice escalating since powdered milk was imported in 2019 spending November 2019, the Government took swift of Rs. 52,000 million. It is almost 1.4 percent of measures by releasing the available buffer stock the import bill and the quantity of imports over of paddy maintained by the Paddy Marketing the last 15 years has fluctuated due to factors Board (PMB) to be milled by Small and Medium such as, world market prices, tax structure, Scale paddy millers under the supervision of local demand and etc. District Secretaries/ Government Agents. This was supplied to the market through Lanka Therefore, the Government from time to time Sathosa Ltd. and private super markets to introduced various policy measures to develop
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the dairy industry in the country. Policies on The potential of poultry production, particularly promoting commercial dairying, raw milk to improve the export revenue of the country, pricing and trade and tariffs have been adopted is still high which is self-sufficient in production in the recent past to increase the availability given the well-established animal husbandry of locally produced milk and milk products sector in the country. At present, broiler in the domestic market at affordable prices. hatching eggs and broiler meat are being Accordingly, the price of local milk powder exported only to Middle East and Maldives. This was revised periodically with the objective can be further expanded to other countries if of popularizing the local milk powder among the quality of the production is further improved the general public and simultaneously the to meet the international standards as there is Government provided a price subsidy to local a huge potential in the industry. milk powder manufacturers to compete with the imported milk powder manufacturers. By Table 6.17 | Imports /Exports of Poultry Products rationalizing this process, a pricing formula for During 2018/ 2019 the imported milk powder has been formulated Product 2018 2019 by a Technical Committee in 2019 and the price Imports adjustments were done accordingly during the Chicken & Chicken Products (Mt) 237.0 229.6 year 2019. Export Chicken & Chicken Products (Mt) 3,618.3 4,435.5 6.6.2. Poultry Sector Eggs 5,859,900 9,574,976 Source: Department of Animal Production and Health
The livestock sector has contributed 0.7 The exported poultry products including percent to Sri Lanka’s Gross Domestic Product broiler parent chicks, broiler commercial (GDP) including above 50 percent contribution chicks, broiler hatching eggs, chicken & chicken of poultry sector in 2019. The livestock sector products, chicken feet, table eggs and pullets is the main contributor of the considerable have shown a considerable increase and the growth shown by the agriculture sector in the importation of poultry products has reduced in recent past. With the development of poultry 2019. Chapter 06 Chapter sector, the price of the poultry products has decreased in comparison to other animal origin Poultry feed: maize food sources. Although the country reached the self-sufficient Table 6.16 | Production of Chicken and Egg 2010–2019 level of poultry production, maize, which is Chicken Year No. of Eggs (mn) the main ingredient of poultry feed is not yet (000’ Mt) adequately cultivated in the country. In 2019 2010 104.2 1,385 Maha Season, maize has been cultivated in the 2011 116.8 1,711 extent of 88,154 hectares and it was around 2012 137.4 2,279 6,114 hectares in Yala season. The yield in Maha 2013 144.5 2,075 and Yala Seasons was around 250,672 mt and around 22,959 mt respectively. 2014 150.3 2,232 2015 164.5 2,294 Table 6.18 | Maize Cultivation 2016 182.7 2,304 Maha Yala 2017 201.0 2,856 Year Extent Production Extent Production 2018 214.2 2,853 (Ha) (Mt) (Ha) (Mt) 2019 225.0 2,619 2015 60,954 230,871 9,017 30,244 2016 57,094 207,075 10,536 36,885 Source: Department of Animal Production and Health 2017 44,515 163,733 8,029 32,011
2018 63,926 242,935 6,969 27,106 Broiler chicken production in 2019 was 225,000 2019 88,154 250,672 6,114 22,959 mt recording a 5 percent growth compared to Source: Department of Agriculture 2018. Egg production has reduced by 8 percent in 2019 compared to the production in 2018. Due to the local maize production not being sufficient to meet the annual maize
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requirement for the poultry feed production, Table 6.20 | Progress of Socially Re-integrated more than 100,000 mt of maize has been Trainees Loan Scheme as at 31.12.2019 imported in the year 2019. The Government District Number of Loans Amount (Rs.Mn) had made arrangements by issuing import Jaffna 425 94.5 permits periodically, in order to facilitate feed Kilinochchi 199 38.7 millers while securing a reasonable price for Mullaithivu 165 35.8 local maize producers. It further ensured the Vavuniya 39 8.6 opportunity of purchasing maize at a stable Mannar 66 13.7 price for the poultry sector and the ability of Ampara 18 3.6 the consumer to obtain a poultry product at a Trincomalee 91 21.3 Batticaloa 71 15.7 reasonable price in the market. Total 1,074 231.8 Source: Office for Reparations Table 6.19 | Maize Importation Year Quantity (Mt) Value (Rs. Mn) In terms of disbursement, 1,074 persons 2015 67,237 2,347.5 have benefitted in the North and Eastern 2016 41,946 1,571.5 Provinces at the end of 2019, with the highest 2017 179,589 6,627.9 loan disbursement and the highest no of 2018 119,087 4,936.5 beneficiaries (425 trainees) from the Jaffna 2019 102,461 4,401.4 Source: Department of Census & Statistics District. The Government has spent Rs. 10.8 million as interest subsidy of the scheme by 6.7 Special Incentives for Targeted December 2019. Groups
Self-Employment Loan Scheme for Socially Re-Integrated Trainees
The self-employment loan scheme for socially re-integrated trainees was implemented from Chapter 06 Chapter July 2012 through the Bank of Ceylon, Peoples’ Bank and Sri Lanka Savings Bank and it was successfully continued in the year 2019. This programme has given opportunities to the socially re-integrated youth to commence their livelihood activities with the financial support of maximum Rs. 250, 000 with a maximum repayment period of 10 years inclusive of maximum one year grace period.
The phrase II of this scheme was initiated in 2016 and the Regional Development Bank has joined in place of SriLanka Savings Bank. The expected amount to be disbursed under phrase II was Rs. 525 million, however only Rs. 231.8 million has been disbursed by end December 2019.
143 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 06 Chapter
144 ENTERPRISES (SOEs) PERFORMANCE OF STATE OWNED 07
Chapter 07 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
7.1 Overview
The lack or absence of coherent pricing The new policy of passing on the benefit of low policy, inadequate level of capital infusion, oil prices through the Fuel Price Stabilization in particular, equity and incompetent or less Fund, will support not only the CPC, Ceylon empowered boards have been identified as Electricity Board (CEB) and the Banks being the the most important factors in contributing frontline beneficiaries, but will have a greater to the less than optimal performance of the impact the macro environment. State Owned Enterprises (SOEs). Although a cost-reflective pricing policy has been While the SOEs have suffered from their own the commonly accepted mechanism to policies including the lack of proper human sustainability of any entity, a proper costing resource management, asset management process requires not only an examination of the and financial management, the role of the costs incurred in the current period but also the government in this regard cannot be ignored cost of holding accumulated losses. Hence, the given the short-sighted decision making decision in 2015 to pass on the low global fuel creating vicious cycle. However, the policy prices without a proper analysis of the Ceylon of the current government to professionalize Petroleum Corporation’s (CPC) cost structure boards by appointing market leaders, business and the impact on the exchange rate, resulted professionals and entrepreneurs through a in the CPC continuing to incur losses with its transparent mechanism could be considered exposures to the banking sector remaining as the first step in supporting these SOEs to elevated. In fact, the CPC failed to capitalize be transformed into entities that are profitable on the impact of the low oil price regime while achieving the objectives for which they effectively and neither could the country, with have been established. Further, much more the low retail fuel prices “fueling” an influx including the introduction of code of ethics to of imports of motor cars creating a negative the board of directors needs to be done, with impact not only on the balance of payments, the SOEs themselves being called to a greater but also on to the environment with high levels level of accountability. of congestion and other negative externalities.
Table 7.1 | Asset Base of SOEs Total Assets as at Total Assets as at Sector Number of SOEs 31.12.2018 31.12.2019* Growth (%) (Rs. billion) (Rs. billion) Energy 2 1,199.71 1,240.25 3.4 Chapter 07 Chapter Water 1 514.38 625.93 21.7 Ports 1 441.37 458.10 3.8 Commuter Transportation 1 18.34 21.76 18.7 Aviation 2 168.40 185.61 10.2 Construction 3 41.38 40.99 -0.9 Banking and Finance 7 5,461.98 6,093.86 11.6 Insurance 4 223.57 244.27 9.3 Lotteries 2 9.56 11.95 25.0 Livestock 2 27.22 26.88 -1.2 Plantations 6 13.44 12.78 -4.9 Non-Renewable ReSource 3 4.73 6.57 38.8 Health 4 34.18 46.74 36.8 Media 3 8.10 7.98 -1.5 Marketing and Distribution** 11 83.27 91.64 10.1 Total 52 8,249.63 9,115.33 10.5 Sources : SOEs and Department of Public Enterprises *Provisional ** Excluding Ceylon Fisheries Corporation
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Table 7.2 | Financial Outturn of SOEs Rs. Billion Total Revenue PBT/ (LBT) ** PBT/ (LBT) ** Sector Number of SOEs 2019* 2018 2019 Energy 2 915.59 -136.60 -97.25 Water 1 26.08 -0.52 -1.18 Ports 1 40.77 7.53 15.78 Commuter Transportation 1 41.98 1.30 1.56 Aviation 2 205.99 -6.76 -28.79 Construction 3 16.96 -0.79 -0.60 Banking and Finance 7 622.69 87.27 82.97 Insurance 4 71.63 17.72 22.67 Lotteries 2 38.80 3.77 4.22 Livestock 2 13.14 -1.20 -1.13 Plantations 6 3.19 -0.21 -0.49 Non-Renewable Resource 3 4.54 0.66 2.33 Health 4 62.82 2.09 2.68 Media 3 3.54 -0.48 -1.19 Marketing and Distribution 11 52.63 -1.76 -3.99 Total 52 2,120.36 -27.96 -2.42 Sources: SOEs and Department of Public Enterprises *Provisional **Profit Before Tax/(Loss Before Tax) – Provisional
Box Article 7.1 | The Way Forward for SOEs
Reforms the way forward for SOEs The government policy on SOEs is anchored around the preservation of the government’s ownership structure whilst introducing reforms to improve return on investment. These reforms are multifaceted and is aimed at enhancing the governance structure by improving the composition of the boards of management, strengthening the balance sheets and creating scale of operations through strategic mergers of SOEs and economically viable and equitable pricing policies including price stabilization mechanisms. As such, the reforms undertaken and proposed include the following:
Enhancing the quality of the of Boards of Management The lack of effective Boards of Management that consist of professionals, industry experts, and entrepreneurs has been highlighted often to be a cause for the deterioration of the performance of SOEs. In this context, at the outset itself the government introduced a novel mechanism of appointing the Boards of Management of the SOEs through a transparent process where Requests for Proposals (RFPs) were invited together with Curriculum 07 Chapter Viteas from interested qualified personnel. These RFPs were subsequently evaluated by a panel of experts and the recommendations were made to the authorities with regard to the appointment of the Chairmen and Directors of these SOEs. This resulted in an improvement in the composition of Boards with the advent of more professionals, industry leaders and entrepreneurs. Given the process adopted, the remuneration package of the chairmen and directors were pruned. The boards were also requested to ensure that the organizational structure does not allow the position of an Executive Director when a Chief Executive Officer/Managing Director, is already appointed. At the same time, in line with practices of good governance, the position of the Chairman of Boards are considered to be independent and the posts of Chairman and CEO can not be held by the same person. A Code of Governance drafted in line with the accepted practices will be issued in the second half of 2020.
Strategic Partnerships of SOEs While there are more than 400 SOEs including the non-commercial SOEs marking its presence almost in every sector of the economy these SOEs are often times placed at various points of the value chain and operates with little or no coordination resulting in less than desirable outcomes. Such issues compromised the ease of doing business due to the unnecessary and confusing bureaucratic systems and has also increased the cost of production making such products and services less competitive.
Thus it is in this background to harness the advantages of scale, reduce duplication and ease the barriers to doing business, reduce unnecessary transfer pricing costs that the Treasury has initiated a study on the possible amalgamation and mergers of SOEs. In doing so the factors that are being considered include, the objectives of the SOEs if there are similar and therefore overlaps, if a merger or acquisition could improve the business valuation
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Box Article 7.1 | The Way Forward for SOEs contd...
of a SOE through the strengthening of the balance sheets, with forward or backward integrations and to create an improved pool of resource of land, human resource and financial management.
At the same time, other reforms include and rationalizing of pricing structures which include the establishment of the Fuel Price Stabilization Fund and other pricing structures too are also being examined. Government also issued instructions requesting the Boards to ensure that workable business plans be drawn up having taken stock of the reSource and other constraints.
SOEs continued to be a key element in the is mainly due to the improved performance of country’s economy with the total revenue of the Ceylon Petroleum Corporation (CPC) with the 52 key SOEs recording an increase of 11 an improvement in its operations stemming percent over 2018 to Rs. 2,120 billion. The total from the plunge in international oil prices in revenue of the largest 20 SOEs, is still almost 2019. However, the gains recorded by the CPC 60 percent greater than the revenue recorded was eroded due to the increase in losses of by the entities under the S&P SL 20 Index of the Ceylon Electricity Board and SriLankan Airlines. Colombo Stock Exchange. Similarly, 153,086 employees of the 52 key SOEs, represent nearly In 2019, budgetary support to the key 52 SOEs 10 percent of the public sector and expanded amounted to Rs. 49.2 billion, of which Rs. 20.3 their asset base by around 10.5 percent in 2019, billion was recurrent expenditure including compared to 2018, which is in line with the salaries and overhead costs. However, the year-on-year expansion of around 9–10 percent contribution to the government coffers by way in the asset base recorded since 2015. of dividends and levies amounted to Rs. 27.7 billion, which is 34 percent lower than that of SOEs continued to be a cause for concern 2018. This indicates that the SOEs have not where, as has been the case, these 52 key been utilizing their assets optimally to increase SOEs recorded a loss of Rs. 2.4 billion in 2019, the return on investment by way of dividends, although it is a significant improvement over levies and capital investments. the loss recorded in 2018 of Rs. 28.0 billion. This
Box Article 7.2 | Fuel Price Stabilization Fund
The government policy now mainly focus on enhancing renewable electricity generation mix having
Chapter 07 Chapter considered not only the financial benefits but also the possible economic and environmental impacts emerged in the medium term. This cannot simply be achieved only through CEB and CPC but it requires overarching policy actions that addresses cross sectoral issues as well.
It is in this background that the government has introduced the Fuel Price Stabilization Fund (FPSF), to ensure that the benefits of low oil prices, currently prevailing is shared across the board in a more equitable manner specially in this time of lockdowns and social distancing.
The government while maintaining the retail prices of petrol and diesel unchanged, has imposed a fuel surcharge on the imports of petrol (octane 92), petrol (octane 95), super diesel and auto-diesel and the surcharge is routed to the FPSF. This has allowed the Ceylon Electricity Board (CEB) to settle its dues to the tune of Rs. 48 billion out of around Rs. 85 billion of dues as at end December 2019. Ceylon Petroleum Corporation (CPC) in turn was able to settle a portion of its dues to the two state banks, thus not only improving the balance sheet and the cost structure of both CEB and CPC but also improving the liquidity position of the two State Banks.
The FPSF will be key in the maintenance of the fuel prices in a more stable manner thus supporting industries more effectively. It is also envisaged that this FPSF will prevent potential pressures to the government budgetary operations and will continue to facilitate the energy sector while ensuring a more effective transmission of the compressed global fuel prices into the macro economy.
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Table 7.3 | Levy/ Dividend Income from SOEs Rs. Million 2015 2016 2017 2018 2019 Levy 26,118 92,338 50,447 37,230 22,634 National Savings Bank 2,800 12,026 3,865 500 2,000 Bank of Ceylon 5,000 18,000 12,000 4,500 – People’s Bank 3,000 8,000 5,000 3,200 2,200 Telecommunication Regulatory Commission 10,000 28,000 22,800 21,850 8,950 Ceylon Petroleum Corporation - 10,000 - - – State Mortgage & Investments Bank 10 10 25 - – Regional Development Bank 87 88 - - 169 State Timber Corporation 50 175 100 100 50 State Pharmaceuticals Manufacturing Corporation 30 65 45 50 – National Insurance Trust Fund 3,000 2,500 2,100 2,750 3,268 Geological Survey and Mines Bureau 850 900 1,500 1,700 2,300 National Gem and Jewellery Authority 75 175 100 25 25 Ceylon Electricity Board - 8,000 - - – Board of Investment 141 115 220 250 250 National Lotteries Board 50 550 - - – Securities and Exchange Commission ----53 Sri Lanka Export Credit Insurance Corporation - 25 - 15 15 Central Engineering Consultancy Bureau 25 25 25 25 25 Sri Lank Tourism promotion Bureau 500 1,500 1,000 1,000 500 Civil Aviation Authority 400 768 800 800 800 State Pharmaceutical Corporation 100 216 222 - – National Transport Medical Institute - 200 160 165 200 Sri Lanka Bureau of Foreign Employment - 1,000 185 200 650 National Transport Commission 300 100 50 Sri Lanka Tourism development Authority 200 Sri Lanka Land Reclamation and Development Authority 29 Sri Lanka Ports Authority 900 Dividends 3,678 15,821 3,550 4,598 5,025 Chapter 07 Chapter National Savings Bank 60 60 60 60 60 Bank of Ceylon 346 346 346 346 346 People's Bank 316 316 316 316 316 Lankaputhra Development Bank 36 36 41 41 – National Development Bank 5 2 2 1 0.8 Sri Lanka Savings Bank - - - 86 – Sri Lanka Insurance Corporation Ltd 1,003 11,857 503 1,856 1,720 Airport and Aviation Services Ltd 497 1,500 850 300 500 Lanka Mineral Sands Ltd 14 - - 35 130 Lanka Phosphate Ltd 30 - 8 5 7 Independence Television Network Ltd 84 - 10 12 – Lanka Leyland Ltd 54 34 35 45 13 Rakna Arakshaka Lanka Ltd 93 - - 40 37 Ceylon Fertilizer Ltd 54 116 90 21 15 Colombo Commercial Fertilizer Ltd 10 25 12 20 10 Paranthan Chemicals Company Ltd 5 - 8 11 – STC General Trading Company - 5 - - –
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Table 7.3 | Levy/ Dividend Income from SOEs contd... Rs. Million 2015 2016 2017 2018 2019 Sri Lanka Telecom PLC 795 795 795 795 947 De La Rue Lanka Ltd 61 62 79 106 133 Lanka Electricity Company Ltd 87 152 218 305 501 Lanka Industrial Estates Ltd 55 47 55 78 82 Skills Development Fund 2--- – Ceylon Agro Industries 6 12 12 19 23 Lanka Logistics Limited 2 5 - 1 – Ceylon Petroleum Storage Terminals Ltd - 438 - - – Plantation Companies 62 10 103 95 172 Others 1 3 7 4 12 Total 29,796 108,159 53,997 41,828 27,659
Sources : SOEs and Department of Public Enterprises
7.2 Energy
Ceylon Electricity Board
In 2019, the Ceylon Electricity Board (CEB) has was Rs. 16.62 per kWh, compared to Rs. 16.29 incurred a loss of Rs. 85 billion, in comparison per kWh in 2018. to the loss of Rs. 30 billion incurred in 2018. Due to the dry weather conditions prevailed during Owing to the average loss of Rs. 5.84 per unit the year, the generation mix has changed (the gap between average total revenue and unfavorably to hydro: thermal (fuel): thermal cost) in 2019 which was only Rs. 2.16 per unit in (coal): Non- Conventional Renewable Energy 2018, CEB has recorded a loss of Rs. 85 billion (NCRE) & wind 23:31:36:10 in 2019, compared to for the year while incurring an accumulated the mix of 33:23:33:11 in 2018. With the decline loss of Rs. 89 billion. CEB has financed its losses in hydropower generation, the total fuel-based through borrowings from banks for its working power generation increased by 37.8 percent capital requirements whereby total exposure to 5,076 GWh, while coal power generation to state Banks increased to Rs. 89 billion by the increased by 11.7 percent to 5,917 GWh end of 2019. The outstanding dues payable to
Chapter 07 Chapter during 2019. The fuel-based power generation CPC and Independent Power Producers (IPPs), accounted for almost 31 percent of total power also stood at Rs. 122 billion. generation. The share of power generated by CEB has The decrease in the hydro generation of decreased approximately by 6 percent from 78 electricity coupled with the increase in the percent in 2018 to 72 percent in 2019 whereas fuel-based generation in the energy mix is the share of fuel-based IPPs power generation reflected with the 25 percent increase in direct has risen by 7 percent from 11 percent in 2018 generation cost. The overall cost increased to 18 percent in 2019. Although government by 26.4 percent to Rs. 340 billion, compared policy is to enhance the renewable energy to the Rs. 269 billion in 2018. The increase in Source to the total energy mix, CEB was unable coal-based generation helped moderate the to considerably increase its NCRE in energy increase in the cost of generation, which would mix in 2019 compared to 2018. During 2019, have otherwise been around Rs. 228 billion in total electricity sales increased by 3.7 percent 2019. The overall average cost of electricity to 14,616 GWh, compared to 14,091 GWh in at the selling point increased to Rs. 23.29 per 2018. The overall transmission and distribution kWh in 2019, in comparison to Rs. 19.12 per kWh loss as a percentage of total power generation in 2018, while the overall average selling price remained the same as 11 percent, compared to the previous year.
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Table 7.4 | Installed Capacity and Power Generation of CEB – 2017–2019 2017 2018 2019 Generation Generation Generation Installed Installed Installed capacity Percentage capacity Percentage capacity Percentage MW on Total GWh MW on Total GWh MW on Total GWh Generation Generation Generation Hydro 1,387 35% 3,077 1,391 33% 5,170 1,399 23% 3,801 Thermal – CEB Oil 604 15% 2,597 604 12% 1,945 654 13% 2,201 Thermal – IPP Oil 611 15% 2,516 629 11% 1,740 628 18% 2,875 Thermal – Coal 900 22% 5,121 900 33% 5,299 900 36% 5,917 NCRE & Wind 516 13% 1,462 560 11% 1,714 635 10% 1,718 Total 4,018 100% 14,773 4,084 100% 15,868 4,216 100% 16,512 Source : Ceylon Electricity Board
Figure 7.1 | Generation Mix – 2019 Figure 7.2 | Generation Mix -2018
NCRE & NCRE & Wind Hydro Hydro Wind 11% 10% (excluding mini (excluding hydro) mini hydro) 23% 33%
Coal 33% Coal 36% Thermal Thermal 31% 23% Source: Ceylon Electricity Board
Table 7.5 | Financial Outturn of Ceylon Electricity Board Rs. Million Actual Provisional 2015 2016 2017 2018 2019 Operational Statement Revenue 198,363 216,647 225,894 238,946 254,944 Sale of Electricity 188,684 206,811 218,450 229,571 242,950
Other Income 9,679 9,836 7,444 9,375 11,994 07 Chapter Expenditure 177,408 231,147 272,962 269,353 340,356 Direct Generation Cost 107,836 152,030 184,601 164,873 218,446 IPP (With NCRE) 63,731 81,752 89,254 84,497 118,665 CEB – Fuel Cost (Oil & Coal) 44,105 70,278 95,347 80,376 99,781 O&M Cost (Generation, Transmission & Distribution) 33,297 40,975 45,651 55,829 61,461 Corporate Expenses 3,882 4,487 4,325 5,277 6,969 Interest on Borrowings and Delayed Payments 5,133 4,276 8,415 13,037 22,526 Depreciation 27,260 29,379 29,970 30,388 30,954 Profit /(loss) 20,955 -14,499 -47,067 -30,458 -85,411 Liquidity Position Borrowings from Banks 318 6,108 2,582 62,171 48,148 Payments to Banks 13,495 14,254 11,709 19,086 26,154 Outstanding Debt to Banks 41,614 33,468 24,341 67,426 89,420 Purchases from CPC and IPP 62,427 110,227 83,415 98,920 143,258 Payments to CPC and IPP 72,177 85,014 42,988 99,331 92,271 Outstanding to CPC and IPP 6,390 31,603 72,030 71,619 122,606
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Table 7.5 | Financial Outturn of Ceylon Electricity Board contd... Rs. Million Actual Provisional 2015 2016 2017 2018 2019 Operational Statistics Units Sold 11,786 12,785 13,431 14,091 14,616 Units Generated 13,159 14,291 14,779 15,868 16,512 Cost Per Unit (Rs.) 15.05 18.06 20.32 19.12 23.29 Sales Per Unit (Rs.) 16.01 16.08 16.26 16.29 16.62 Generation Composition Thermal (Fuel) CEB 1,085 2,362 2,603 1,945 2,201 Thermal (Fuel) IPP 1,226 2,164 2,516 1,740 2,875 Hydro 4,925 3,504 3,077 5,170 3,801 Mini Hydro, Wind & NCRE 1,466 1,195 1,462 1,715 1,718 Coal 4,457 5,066 5,121 5,299 5,917 Total 13,159 14,291 14,779 15,868 16,512
Sources : Ceylon Electricity Board and Department of Public Enterprises
Supply-side energy efficiency plays a vital role It has been noted that the CEB could in determining the cost of electricity supply. rationalize its cost structures by establishing Supply-side energy efficiency is handled e-procurement systems and a Centralized through least cost long term generation plan Treasury Management function to enhance the ensuring efficient technologies are added to effectiveness of liquidity management which the national grid on time. However, during is supplemented by an Enterprise Resource the last few years CEB was unable to increase Planning (ERP) System will also be a key turning its generation capacity to the national grid point of the entity. resulted in power outages. As a result of an absence of a cost-reflective tariff methodology Ceylon Petroleum Corporation and cost minimization strategy through new technology driven generation mix (such as CPC accounts for about 80 percent market LNG), the CEB’s bottom line was adversely share of supply of fuel products to the transport affected as evidenced by weakening its sector while maintaining the almost full supply financial position. of all other fuel products including, heavy fuel, Chapter 07 Chapter kerosene, and Naphtha. CPC’s refinery has a Given that around 65 percent of the cost of the capacity to produce only around 30 percent of CEB is attributable to generation, it is important the total fuel requirement in the country while that the Source of generation be relatively the balance is imported as refined products. less costly having taken into account its CPC supplies the petroleum products island impact on the environment, In this regard, the wide through the distribution channel which government has indicated that the CEB should consists of 1,302 filling stations located around convert existing thermal power plants with 700 the country. MW capacity at Kelanithissa and Kerawalapitiya (Yugadhanavi plant) to LNG, resulting in a decrease in existing direct generation cost approximately by 17 percent. Also, another 1,400 MW of LNG powered generation plants be established in the same vicinity benefitting from shared reSource including a Floating Storage Regasification Unit (FSRU) plant.
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Figure 7.3 | Crude Oil (petrolium) Price in 2014–2019 (USD)
120
100
80
60
40 US Dollars per Barrel US Dollars 20
0 Jun-14 Jun-15 Jun-16 Jun-17 Jun-18 Jun-19 Oct-14 Oct-15 Oct-16 Oct-17 Oct-18 Oct-19 Apr-14 Apr-15 Apr-16 Apr-17 Apr-18 Apr-19 Feb-15 Feb-16 Feb-17 Feb-18 Feb-19 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Aug-14 Aug-15 Aug-16 Aug-17 Aug-18 Aug-19
Source: World Bank Report – 2019
The total cost of the fuel-based import of CPC While the sales to the transport sector of Rs. for 2019 stood at USD 3,359 million accounts 430 billion which accounts for 65 percent of for about 17 percent of the total imports of the the total revenue of CPC, it recorded a loss of country. Since the cost of imports accounts Rs. 26 billion in 2019. The balance, 35 percent for about 95 percent of the total expenditure represents other sectors including aviation, of CPC, its financial performance is directly domestic, industry and power generation affected by the dynamics of the global oil price recording a profit of Rs. 14 billion leading to an movements and the exchange rate. overall loss of Rs. 12 billion of CPC.
Figure 7.4 | Segemental Contribution to the Revenue of CPC (Rs. Billion)
Export 4 Agro and other DomesƟc 15 20 Petrol 92 27 07 Chapter Industries 13 Petrol 95 AvaiƟon Transport 430 195 59 Auto Diesel 198
Super Diesel 11 Power generaƟon 119
Source: Ceylon Petroleum Corporation and Department of Public Enterprises
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Figure 7.5 | Sector – wise Profitability of CPC 2018–2019 (Rs. Billion)
Power Export and Transport generaƟon AviaƟon Industries DomesƟc Other 8.34 3.84 2.15 1.70 10 - (1.22) (0.94) (1.15) (10) (9.83) (7.49) (14.61) (20) (30) (25.97) (40) (50) (60) (70) (80) (90) (95.47) (100) 2018 2019
Sources : Ceylon Petroleum Corporation and Department of Public Enterprises
The continuous losses accumulated by CPC to the Bank of Ceylon (BoC) and the People’s over the years stood at Rs. 337 billion at the Bank (PB) to close at Rs. 566 billion. CPC has end of 2019 has had a significant impact on the been financing the operations of the electricity operations and thereby weakening its balance sector in particular with about Rs. 102 billion sheet in the absence of equity infusion. Trade remaining unpaid at the end of 2019. Treasury receivables stood at Rs. 95 billion at the end guarantees amounting to USD 1.8 billion has of 2018 has increased to Rs. 164 billion by the been issued to cover the exposure to the above end of 2019 resulting in the CPC’s exposure two Banks.
Table 7.6 | CPC Foreign Currency Loans & Import Bills Payable Rs. Million As at 31.12.2018 As at 31.12.2019 Commitments Loan (within Loan (within Over Due Total Value Over Due Total Value the period ) the period ) Chapter 07 Chapter BOC Foreign currency loans (Import ) 108,505 31,371 139,876 118,542 38,905 157,447 Import Bills & LC 155,930 – 155,930 136,076 – 136,076 Total -BOC 264,436 31,371 295,807 254,618 38,905 293,523 PB Foreign currency loans (Import ) 131,756 23,067 154,823 141,008 9,498 150,506 Import Bills & LC 111,827 – 111,827 122,195 – 122,195 Total -PB 243,583 23,067 266,650 263,203 9,498 272,701 Total Payable (BOC & PB ) 508,019 54,438 562,457 517,821 48,403 566,224 Sources : Ceylon Petroleum Corporation and Department of Public Enterprises
Table | 7.7 Financial Outturn of Ceylon Petroleum Corporation Rs. Million Actual Provisional 2015 2016 2017 2018 2019 Total Revenue 385,980 435,025 458,240 605,952 660,646 Octane 92 86,747 96,836 103,026 172,088 195,216 Octane 95 10,470 13,932 17,068 28,669 26,580 Diesel 168,156 190,387 179,906 220,922 238,967 Super Diesel 5,774 7,418 8,205 11,589 10,877 HF 800cc 21,860 43,539 39,888 30,456 13,438
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Table | 7.7 Financial Outturn of Ceylon Petroleum Corporation contd... Rs. Million Actual Provisional 2015 2016 2017 2018 2019 HF 1500cc 16,801 3,165 5,130 8,774 16,912 HF 3500cc/Super Oil 1,110 – – – 33,652 LSHF 4,983 6,950 20,055 19,295 10,799 Naptha 12,003 15,442 14,947 14,270 16,803 Kerosene 9,824 7,998 9,054 15,351 17,598 JET- A-1 34,641 31,559 42,828 64,090 58,857 Other Products 4,367 5,836 6,357 6,746 6,892 Other Income 9,246 11,963 11,738 13,702 14,055 Total Expenditure 405,866 365,471 454,873 712,095 672,482 Cost of Sales 337,119 326,441 418,962 579,617 626,599 Sales and Distribution 13,401 14,412 15,498 14,914 17,981 Administration 2,838 3,546 4,036 5,296 5,146 Finance Cost 15,049 11,405 10,531 12,065 14,699 Depreciation 754 838 924 726 723 Other Cost(Excies Duty & NBT) 36,705 8,829 – 16,760 15,732 Exchange Rate Variation – – 4,922 82,717 -8,398 Profit/(Loss) Before Tax -19,886 69,554 3,367 -106,143 -11,835 Outstanding debts to Banks 388,855 308,667 338,241 562,457 566,225 Sources : Ceylon Petroleum Corporation and Department of Public Enterpirses
7.3 State Banks 4.7 percent from 3.4 percent in 2018 while NPL’s in State Banks increased to almost 4.6 percent. The state banks continued to dominate the country’s banking sector, accounting nearly Bank of Ceylon 46 percent of the total assets in the banking industry in 2019. During the year, Lankaputhra Bank of Ceylon (BoC), continued its dominance Development Bank Ltd was merged with in the Sri Lankan banking industry with a Rs. Pradeshiya Sanwardhana Bank. The Sri Lanka 2,415 billion asset base and Rs. 2,005 billon Savings Bank Ltd was acquired as a subsidiary deposits. BoC’s asset base grew by Rs. 130 by the National Savings Bank in line with the billion or 5.7 percent during 2019, although the Budget proposal 2016. The banking network banking industry on average recorded a growth of the state banks expanded to 1,916 banking of 6.2 percent. However, while the industry saw outlets and service delivery points with the a 5.6 percent growth in their lending portfolios, opening of 17 new branches in 2019 facilitating BoC’s lending portfolio grew by 8.5 percent. better financial accessibility. The deposit base of the bank surpassed Rs. 2.0 07 Chapter State Banks accounted for 44 percent of the trillion by the end of 2019, recording a growth lending portfolio of the banking sector at Rs. of 13.2 percent, compared to the previous year, 3.6 trillion as at end 2019, an increase of 6.2 and is above the industry growth of 7.9 percent. percent, compared to 2018. The deposit base The increase in term deposits by Rs. 200 billion of the state banks increased by 11.7 percent to accounted for 85.5 percent of the increase in Rs. 4.7 trillion accounting for almost 52 percent deposits. Accordingly, the Current and Savings of the total deposit base of the banking sector. Account ratio (CASA) decreased from 34 percent to 31.7 percent during 2019, reflecting Due to the challenging business environment the need to attract low-cost deposits. that prevailed in 2019, profit before tax of the state banks was only Rs. 62.9 billion, a decrease Despite the increase in net interest income by of 9.2 percent compared to the previous year. Rs. 9,588 million or 14.6 percent, the bank’s However, the state banks have outperformed profit before tax decreased to Rs. 29,685 million the industry given that the banking industry in 2019 from Rs. 33,416 million in 2018, mainly had witnessed an 11.1 percent contraction due to the decrease in non-interest income by in profit before tax. Also, the quality of the Rs. 7.0 billion. lending portfolios has deteriorated with the Non- Performing Loan (NPL) ratio increasing to
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NPL ratio of 4.8 percent in 2019 was much percent, which is well above the industry asset higher in comparison to 3.6 percent at the growth rate of 6.2 percent. end of 2018, however in par with the industry average of 4.7 percent in 2019. The bank recorded a slower growth rate of 4.8 percent in deposits in 2019, compared to the BoC’s branch network expanded to 581 banking industry growth rate of 7.9 percent. branches with the opening of 4 branches in 2019. The bank has 10 subsidiaries and 4 Despite the increase in net interest income by associate companies in its group structure Rs. 3.0 billion, decrease in non-interest income which yielded a dividend income of Rs. 346 coupled with the increase in other expenses has million in 2019. BoC has been able to sustain resulted in the bank recording a profit before Fitch Ratings Lanka national long-term rating of tax of Rs.19,666 million in 2019, compared to Rs. AA+ (lka) in 2019. 24,406 million in 2018.
Table 7.8 | Financial Outturn of Bank of Ceylon PB’s loan book grew to Rs. 1,384 billion by end Rs. Million of 2019, an increase of 3.7 percent, which was Actual well below the banking industry growth rate Description 2015 2016 2017 2018 2019 of 5.6 percent. However, the bank maintained Total 132,915 154,121 189,211 221,021 239,116 a low NPL ratio of 3.3 percent at the end Income Interest 114,158 134,685 171,344 195,394 220,477 of 2019, compared to the industry average Income of 4.7 percent. Housing and construction Interest 66,419 80,728 112,988 129,836 145,331 sector accounted for about 21 percent of the Expense PB’s lending portfolio in 2019 followed by Net Interest 47,739 53,957 58,356 65,558 75,146 Income the infrastructure and pawning loans at 19.6 Other 17,685 19,436 17,868 25,627 18,639 percent and 11.7 percent, respectively. Income Total 40,146 31,543 45,881 57,769 64,100 The PB’s Act was amended in 2019 with the Operating Expenses objectives of increasing the authorized capital Personnel 16,744 16,844 16,996 17,351 18,365 from Rs. 1 billion to Rs. 50 billion and enabling Expenses the PB to issue debentures similar to other state Other 23,402 14,699 28,885 40,418 45,735 Expenses owned financial institutions. PB maintained Profit 23,279 31,189 30,343 33,416 29,685 a Total Capital Adequacy Ratio (CAR) of 14.7 Before Tax percent by the end of 2019, which is above Key Performance Indicators the minimum CAR of 14 percent. Fitch Rating 510,099 473,872 582,451 626,098 650,430 Chapter 07 Chapter Investments (Lanka) affirmed AA+ (lka) national long term Deposits 1,082,337 1,256,589 1,546,832 1,770,975 2,005,212 rating for PB with a stable outlook for the year Loans and 870,730 1,047,190 1,163,161 1,429,107 1,549,805 advances 2019. Non 36,978 29,786 34,261 53,754 77,133 Performing Table 7.9 | Financial Outturn of People’s Bank Advances Rs. Million ROA (%) 1.7 1.93 1.7 1.6 1.3 Actual ROE (%) 22.2 28.4 20.9 17.3 16.8 Description 2015 2016 2017 2018 2019 NPL Ratio 4.3 2.88 2.9 3.6 4.8 (%) Total 103,649 121,905 161,904 181,284 197,040 Income Sources : Bank of Ceylon and Department of Public Enterprises Interest 92,404 109,970 149,184 166,441 184,025 Income People’s Bank Interest 48,732 66,846 98,719 111,035 125,508 Expense People’s Bank (PB), the second-largest bank Net Interest 43,672 43,124 50,466 55,406 58,517 Income in the country with an asset base accounting Other 11,071 11,935 12,720 14,479 12,588 for 15 percent of the banking sector, promotes Income financial inclusion through its largest branch Total 31,483 34,245 28,322 35,310 36,731 network of 739 branches and service centres Operating Expenses located island wide. PB’s asset base stood at Personnel 17,056 17,475 15,915 19,905 19,494 Rs. 1,873 billion by end 2019, an increase of 8 Expenses
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Table 7.9 | Financial Outturn of People’s Bank contd... above the industry loan growth of 5.6 percent. Rs. Million Housing and construction and infrastructure Actual loans accounted for 28 percent and 15.5 Description 2015 2016 2017 2018 2019 percent, respectively for the NSB’s loan Other 14,427 16,770 12,407 15,405 17,236 portfolio. Bank’s credit quality has deteriorated Expenses Profit 19,520 20,814 25,913 24,406 19,666 only marginally from 1.4 percent in 2018 to 1.6 Before Tax percent as at end 2019, and is still significantly Key Performance Indicators lower than the industry average. Investments 307,719 178,727 269,691 299,160 405,688 Deposits 899,238 1,077,812 1,244,003 1,422,961 1,491,386 The Committee on Public Enterprises (COPE) Loans and 829,234 950,824 1,074,248 1,334,420 1,383,791 noted that the bank needs to establish advances Non 19,144 16,337 19,573 31,472 43,569 more transparency in its recruitments and Performing emphasized the need for having proper Advances Schemes of Recruitments for all employee 1.8 1.9 1.9 1.5 1.1 ROA (%) categories. ICRA affirmed AAA rating for the ROE (%) 27.1 23 26.6 20.3 13.9 NSB for the year 2019. NPL Ratio 2.4 1.7 1.9 2.5 3.3 (%) Sources : People's Bank and Department of Public Enterprises Table 7.10 | Financial Outturn of National Savings Bank Rs. Million National Savings Bank Actual Description 2015 2016 2017 2018 2019 National Savings Bank (NSB), the largest Total 79,282 87,399 107,996 111,902 121,929 licensed specialized bank in Sri Lanka, serves Income Interest 78,128 86,390 103,579 110,507 118,730 its customers through a strong branch network Income of 256 branches and 4,692 number of post Interest 51,146 60,923 78,445 85,622 89,898 offices/ sub post offices disbursed throughout Expense the country. NSB’s asset base stood at Rs. 1,158 Net Interest 26,983 25,467 25,134 24,885 28,832 Income billion as at end 2019, recording a growth of Other 1,043 872 4,308 1,254 3,067 11.7 percent over 2018, which is well above the Income banking industry growth of 6.2 percent. NSB Total 14,992 13,036 15,307 18,197 21,438 Operating accounted for 9.2 percent of the total asset Expenses base and 11.1 percent of the deposit base of Personnel 5,911 6,235 6,887 9,263 10,158 the entire banking industry. NSB’s deposit base Expenses surpassed Rs. 1.0 trillion as at end 2019, being Other 4,802 6,800 8,420 8,935 11,280 Expenses the third state bank with deposits over Rs. 1.0 Profit 13,034 13,303 14,135 7,941 10,462 07 Chapter trillion. Before Tax Key Performance Indicators In 2019, NSB recorded a profit before tax Investments 549,743 554,235 593,333 565,841 647,760 of Rs. 10,462 million, compared to Rs. 7,941 Deposits 595,776 657,280 737,213 839,574 1,016,574 million in 2018. The main contributory factor Loans and 271,751 323,811 375,704 422,895 454,395 advances for the increase in profit was the improvement Non 9,077 4,792 4,996 6,136 7,224 in interest margin from 2.4 percent in 2018 to Performing 2.6 percent in 2019, resulting in an increase in Advances ROA (%) 1.6 1.51 1.47 0.78 0.95 net interest income by almost Rs. 4.0 billion. ROE (%) 31.1 29.37 27.24 10.95 15.32 During the year 2019, NSB paid Rs. 2.0 billion NPL Ratio (%) 3.5 1.55 1.34 1.44 1.57 as a levy to the Consolidated Fund. Meanwhile, Sources :National Savings Bank and Department of Public Enterprises in 2019, NSB acquired 100 percent ownership of the Sri Lanka Savings Bank (SLSB), a licensed Housing Development Finance specialized bank, in line with the 2016 Budget Corporation Bank (HDFC) proposal. Accordingly, the group structure of the NSB consists of 2 subsidiary companies. Housing Development Finance Corporation Bank (HDFC), which is the only state bank listed The bank’s loan book grew by 7.3 percent to in the Colombo Exchange, engages primarily in Rs. 454 billion as at end 2019, which is well granting credit facilities for housing purposes.
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The bank’s asset base recorded an increase of Table 7.11 | Financial Outturn of Housing Development 13.6 percent to Rs. 56 billion in 2019 from Rs. 49 Financial Corporation Bank contd... billion as at end 2018. Rs. Million Actual Provisional Description Lending portfolio of the bank recorded an 2015 2016 2017 2018 2019 increase of 8.6 percent, which was well above Profit 993 848 821 629 774 Before Tax the industry average of 5.6 percent. Loans Key Performance Indicators granted for housing purposes accounted for Investments 13,687 13,622 12,859 9,396 12,440 78 percent of the total loan portfolio, while 15 Deposits 28,593 32,123 36,655 37,016 42,504 percent of the loans granted for consumption Loans and 26,685 30,260 34,967 37,949 41,216 and other purposes. The credit quality of HDFC advances Bank deteriorated in 2019, resulting in an NPL Non 5,486 4,509 5,708 8,899 11,623 Performing ratio of 25.3 percent in 2019, compared to 21.3 Advances percent in 2018. The deposit base of the bank ROA (%) 2.5 1.94 1.72 1.14 0.91 increased by 14.8 percent to Rs. 42,504 million ROE (%) 15.8 11.01 10.97 12.56 9.63 as at end 2019. NPL Ratio 20.8 14.95 16.5 21.31 25.26 including EPF (%) Improvement in net interest margin to 5.5 Sources : Housing Development Financial Corporation Bank and percent in 2019 from 4.5 percent in the previous Department of Public Enterprises year has resulted in the bank recording a profit before tax of Rs. 774 million, an increase of 23 State Mortgage and Investment Bank percent over 2018. State Mortgage and Investment Bank (SMIB), a The continuously weak performance recorded licensed specialized bank continued to engage in the past has resulted in the bank not being predominantly in the housing finance market, able to declare dividends to its shareholders with housing loans accounting for almost 83 and has also severely restricted its ability percent of the bank’s total portfolio in 2019, to raise equity for business expansion. while the balance 17 percent accounted for Consequently, the Government has compelled loans granted to the agriculture sector. to invest Rs. 250 million in 2019, a Basel III compliant Additional Tier I Bond, to support the The loan portfolio of the bank increased by 4.9 HDFC to meet the minimum regulatory capital percent to Rs. 35,893 million as at end of 2019, requirement. Fitch Rating has downgraded the compared to that of Rs. 34,225 million in 2018. bank’s long term rating from ‘BBB- (lka)’ to ‘BB+ The bank’s NPL ratio recorded an increase in
Chapter 07 Chapter (lka)’ during the year 2019. 2019 to 21.2 percent, which was well above the industry average. However, it is noted that
Table 7.11 | Financial Outturn of Housing Development almost 71 percent of the Banks’ NPL is in lieu of Financial Corporation Bank the loans granted backed by the Employees’ Rs. Million Provident Fund (EPF) deposits. These loans get Actual Provisional serviced within 6 months. The bank’s deposit Description 2015 2016 2017 2018 2019 base has reached around Rs. 39 billion as at Total 4,909 5,928 6,978 7,120 8,090 end 2019, recording a growth of 13.4 percent, Income compared to 2018. The growth in fixed deposits Interest 4,660 5,473 6,614 6,679 7,683 Income by Rs. 4.5 billion has contributed mainly for the Interest 2,539 3,509 4,742 4,441 4,783 growth in deposits. Expense Net Interest 2,121 1,964 1,872 2,238 2,900 SMIB has recorded a profit before tax of Rs. Income Other 249 455 365 441 407 465 million in 2019, a decrease of 3.1 percent, Income compared to 2018. SMIB’s ability to expand its Total 1,377 1,409 1,472 1,761 2,063 business operations has been curtailed due Operating Expenses to the weaker capital base of the bank, which Personnel 829 895 941 1,114 1,164 needs to be addressed in the medium term. Expenses The COPE noted that the vacancies in key Other 548 514 474 647 898 management positions continued for a long Expenses
158 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 period together with weaknesses in internal Bank’s loan book recorded a growth of 2.6 control systems have resulted in the bank percent in 2019 to Rs. 137 billion as at end 2019, recording weak performance during the past which was well below the industry average. few years. NPL ratio of the bank increased to 9.6 percent as at end 2019, compared to 5.4 percent in Fitch rating Lanka has downgraded the bank 2018. Although the branch network of the PSB to ‘BBB+’ in 2019 from ‘A negative’ long term expanded to 276 branches with the addition of rating. 11 new branches, the increase in the deposit base of 5.7 percent to Rs. 150 billion as at end Table 7.12 | Financial Outturn of State Mortgage and 2019, less than the industry average of 7.9 Investment Bank percent. Rs. Million Actual Provisional Despite the increase in net interest income, the Description 2015 2016 2017 2018 2019 bank’s profit before tax declined significantly Total 3,999 4,372 4,916 5,658 6,125 to Rs. 1,344 million in 2019, compared to Rs. Income Interest 3,879 4,241 4,745 5,524 5,981 2,103 million, mainly due to the increase in Income impairment charges by Rs. 1.0 billion. Interest 2,057 2,425 3,102 3,577 3,940 Expense Table 7.13 | Financial Outturn of Pradeshiya Net Interest 1,822 1,815 1,643 1,947 2,041 Income Sanwardana Bank Other 120 131 171 133 143 Rs. Million Income Actual Provisional Description Total 1,099 1,947 1,248 1,164 1,222 2015 2016 2017 2018 2019 Operating Total 12,510 15,744 22,016 26,070 27,508 Expenses Income Personnel 699 698 725 824 882 Interest 11,759 14,813 20,910 24,865 26,357 Expenses Income Other 400 322 523 340 340 Interest 5,169 7,197 11,233 12,959 13,802 Expenses Expense Profit 681 706 566 480 465 Net Interest 6,590 7,616 9,676 11,905 12,555 Before Tax Income Key Performance Indicators Other 751 931 1,106 1,205 1,151 Investments 7,071 6,391 8,129 7,172 9,729 Income Deposits 27,836 28,845 33,620 34,272 38,872 Total 5,779 6,416 7,476 11,007 12,362 Loans and 26,523 28,530 32,987 34,225 35,893 Operating advances Expenses Non 8,538 7,815 8,591 8,602 7,544 Personnel 4,082 4,609 4,980 5,878 5,932
Performing Expenses 07 Chapter Advances Other 1,697 1,807 2,495 5,129 6,430 ROA (%) 2.11 1.15 0.98 0.99 1.1 Expenses ROE (%) 9.9 4.52 3.62 4.9 4.7 Profit 1,562 2,131 3,307 2,103 1,344 Before Tax NPL Ratio 29.4 25.17 22.93 21.75 21.21 including Key Performance Indicators EPF (%) Investments 16,385 20,879 36,431 38,429 55,314 Sources : State Mortgage and Investment Bank and Department of Deposits 86,324 104,689 136,582 141,560 149,600 Public Enterprises Loans and 88,396 106,806 128,344 133,433 136,894 advances Pradeshiya Sanwardana Bank Non 3,538 3,050 4,191 7,263 17,290 Performing Advances Pradeshiya Sanwardana Bank (PSB) was ROA (%) 1.57 1.79 2.2 1.21 0.71 established to strengthen the rural economy ROE (%) 11.18 11.04 16.45 10.65 4.02 through improving the living standards of NPL Ratio (%) 4 2.86 3.27 5.36 9.63 the rural community by providing access to Sources : Pradeshiya Sanwardana Bank and Department of Public affordable credit facilities. During the year, the Enterprises merger of Lankaputhra Development Bank with the PSB was completed, strengthening the Employees’ Trust Fund Board Bank’s capital base. Employees’ Trust Fund Board (ETFB) was established to provide social security by way of
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multiple benefits to its members. The members Table 7.14 | Financial Outturn of Employees’ Trust of the ETFB are all employees who are not Fund Board eligible for a government pension scheme Rs. Million but are employed either in the private sector Actual Provisional Description or public sector. Unlike EPF, the employer 2015 2016 2017 2018 2019 makes a contribution of 3 percent from the Total 19,833 24,579 29,000 28,369 22,885 Income gross earnings on behalf of the employee/ Investment 19,513 24,047 28,148 28,340 22,456 member, which is a non-contributory benefit Income(net) to the member. At the end of 2019, the number Other 320 532 852 462 429 of members of the ETFB was 2.6 million. Income Total 1,724 1,776 1,920 2,077 2,315 Further, the total contribution received from Expenditure the employers on behalf of their employees Operating 1,343 1,148 1,251 1,348 1,792 increased by 8.7 percent to Rs. 27.5 billion in Expenses 2019, compared to 2018. Member 381 628 669 488 523 Expenses Profit before 18,109 22,803 27,080 18,292 20,570 There are 9 types of welfare benefit schemes tax available for Employees’ Trust Fund (ETF) Profit for 18,052 20,408 24,374 14,851 15,383 members including schemes providing Distribution Interest on 6,014 6,760 7,546 8,435 9,193 assistance to health care, housing requirements Member and financial assistance to education of the Fund 3% children of the members. Since the objective Dividend 12,028 13,520 15,091 16,869 15,322 of the Fund is the betterment of retired life Total Rate 999 9 8 of Interest & of the employees who are not having any Dividend (%) kind of established pension scheme, special Sources : Employees’ Trust Fund Board and Department of Public consideration is given to increase the voluntary Enterprises membership of self-employed persons and migrant workers. 7.4 Water
In 2019, Rs. 437.2 million was paid as benefit National Water Supply and Drainage claims and majority of that i.e. Rs. 173.1 million Board was paid for medical claims on heart surgeries. Also, members are paid the balance available in The National Water Supply and Drainage Board the account along with dividends and interest (NWS&DB) has targeted to increase the total upon termination/retirement. Accordingly, piped borne water coverage to 60 percent to
Chapter 07 Chapter 199,084 refund claims were processed in 2019 expand a safe drinking water supply coverage and the total amount paid on refund claims was to 91.7 percent while, 3.3 percent of piped Rs. 20 billion. sewerage coverage in 2020 is also expected for the accomplishment of targets set out in Majority of the investments made by ETFB the Millennium Development Goals. As such, are placed in government securities ensuring piped borne water, safe drinking water supply a steady stream of secured returns. The and piped sewerage coverage in the country investment portfolio grew up to Rs. 327 stands as 51.8 percent, 91.9 percent (includes billion by recording an increase of 12 percent, protected dug wells: 36.4 percent, tube wells: compared to 2018. Moreover, in 2019, ETFB 3.2 percent, rainwater harvesting and other: 0.5 earned a total income of Rs. 23 billion which percent in addition to the piped water supply) largely consisted of profits and dividends and 2.1 percent, respectively in 2019. earned on share accounts. In 2019, the Fund earned a net profit of Rs. 15 billion and declared NWS&DB was able to add 100,000 new a total dividend plus interest rate of 8 percent connections through 6 new water supply to all members, which accounted for Rs. 24.5 schemes with the increase in total connections billion. to 2.4 million at the end of 2019. With the addition of 3,300 new connections, the total sewerage connections increased to 24,494. NWS&DB produced 746 million cubic meters
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3 (m ) of drinking water at a cost of Rs. 16,614 Table 7.15 | Financial Outturn of National Water million with a unit cost of a one cubic meter Supply and Drainage Board contd... at Rs. 49.76 in 2019. NWS&DB distributed 560 Rs. Million million m3 of water in 2019, a 6 percent increase, Actual Provisional Description compared to 2018. 2015 2016 2017 2018 2019 Water 612 649 679 732 746 Production (m3 NWS&DB recorded a revenue of Rs. 26,079 Million) million, a 5 percent increase, compared to Water Sales 442 484 508 527 560 2018. NWS&DB incurred a significant loss of (m3 Million) Non-Revenue 28 25.4 25.2 24.96 24.88 Rs. 1,177 million in 2019 as against the loss of Water Rs. 580 million in 2018 due to the increase in (percent) cost of production by 5 percent, personnel Water Supply 331 337 343 343 348 expenditure by 10 percent and finance cost Projects (Nos.) Safe Drinking 86.0 89.0 89.3 90.0 91.9 by 77 percent. The addition of new projects Water Supply has resulted in the increase in total assets to Coverage Rs. 625,930 million in 2019, compared to Rs. (Percent) Sewerage 10,369 15,872 17,429 21,165 24,494 515,035 million in 2018. Connections (Nos.) NWS&DB continued to implement measures Sources : National Water Supply & Drainage Board and Department for the reduction of Non-Revenue Water (NRW) of Public Enterprises which has been a major challenge. However, the NWS&DB has completed 06 local bank-funded NRW percentage declined minimally to 24.88 projects and 01 foreign bank funded project in percent in 2019, compared to 24.93 percent 2019. Also, NWS&DB initiated 03 new projects in 2018, an improvement of 7 m3 million over of which 02 are local bank funded. 2018. To strengthen the financial position of the NWS&DB, budgetary support was extended by The current progress of the NWS&DB reflects way of equity contribution amounting to Rs. the challenges in achieving the targets spelt 4,411 million in 2019. out in the Millennium Development Goals due to the liquidity constraints and delays in Table 7.15 | Financial Outturn of National Water the completion of the projects. It is required Supply and Drainage Board to take prudent measures to complete the Rs. Million projects on time and identify and implement Actual Provisional Description 2015 2016 2017 2018 2019 the priority projects according to the sectorial master plan.
Revenue 19,584 23,585 23,860 24,806 26,079 07 Chapter Water 18,374 21,318 21,692 22,744 23,995 Water Related 1,210 2,267 2,167 2,062 2,084 7.5 Ports Income Cost of Sales -12,315 -13,486 -14,196 -15,821 -16,614 Sri Lanka Ports Authority Gross Profit 7,269 10,099 9,663 8,985 9,465 Other Income 1,666 1,478 1,724 1,061 1,259 Administrative -8,571 -9,136 -9,935 -10,969 -12,059 Sri Lanka Ports Authority (SLPA) currently Expenses operates the ports of Colombo, Galle, Other -464 -704 -714 -906 -765 Trincomalee, Kankasanthurai, Oluvil, Operating Expenses Hambanthota and Point Pedro. The Port of Operating -100 1,737 738 -1,828 -2,100 Colombo handled 7.2 million TEUs in 2019, Profit/ (Loss) compared to 7.05 million TEUs handled in 2018. Finance 1,186 1,245 1,157 1,574 1,454 The number of cargo and other ship arrivals Income into Sri Lanka remained static at 5,458 in 2019 Other -56 -67 -66 -325 -531 Expenses + and 2018. Taxes Net Profit/ 1,030 2,978 1,817 -580 -1,177 SLPA earns revenue from navigation, (Loss) Key Performance Indicators stevedoring, wharf handling, port facilities Connections 1.9 2.1 2.2 2.3 2.4 and other service operations. SLPA reported (Nos. Million) Rs. 40,770 million revenue in 2019, a 6 percent
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increase, compared to 2018. Administration Table 7.16 | Financial Outturn of Sri Lanka Ports expenditure increased by 70 percent to Authority contd... Rs.14,824 million in 2019 from Rs. 8,703 million Actual Provisional Description in 2018. Accordingly, profit before tax and 2015 2016 2017 2018 2019 foreign exchange loss declined by 26 percent Ship Arrivals 5,450 5,782 5,781 5,457 5,458 (Nos) to Rs.14,418 million in 2019 from Rs. 19,409 Colombo (Nos) 4,772 5,085 5,109 5,079 5001 million in 2018. Galle (Nos) 162 162 150 143 283 Trincomalee 209 248 271 235 174 However, Rs. 11,875 million foreign exchange (Nos) loss in 2018 has transformed into a foreign MRMRP 307 287 251 - - Sources : Sri Lanka Ports Authority and Department of Public exchange gain of Rs. 1,359 million due to fairly Enterprises stable exchange rate movements. Accordingly, SLPA recorded a profit of Rs. 15,777 million Figure 7.6 | Revenue Trend of SLPA (2014 to 2019) before tax in 2019, compared to Rs.7,534 million in 2018. 44000 20
43000 15
42000 Table 7.16 | Financial Outturn of Sri Lanka Ports 10 Authority 41000 5 Rs. Million 40000 Actual Provisional 0 39000
Description % Growth Revenue Revenue in Rs.Million 2015 2016 2017 2018 2019 -5 38000 Total Revenue 40,161 42,994 43,957 38,546 40,770 -10 Navigation 6,789 7,963 8,502 10,583 11,567 37000 Stevedoring 18,386 18,520 17,487 18,257 18,582 36000 -15 2014 2015 2016 2017 2018 2019 Wharf Handling 4,553 5,066 5,419 5,607 5,910 Revenue Earned Growth in Revenue Port Facilities 4,188 4,020 4,235 3,226 3,696 Other 1,210 1,230 1,270 873 1,015 Source: Sri Lanka Ports Authority Other Income 5,035 6,195 7,044 11,104 10,688 Total 54,332 31,919 28,530 30,241 37,040 7.6 Insurance Expenditure Operational 17,847 15,328 15,042 15,425 16,656 Expenses The insurance industry consists of 21 local "Repair and 4,829 4,873 4,977 5,837 5,875 insurance companies and 6 foreign-based Maintenance Expenses" companies. The industry is regulated by the Administrative 8,309 8,458 8,030 8,703 14,824 Insurance Regulatory Commission of Sri Lanka Expenses (IRCSL) (previously known as the Insurance Net Finance 3,154 3,260 481 276 (315) Chapter 07 Chapter Cost Board of Sri Lanka). The State presence is visible Profit/(Loss) 6,025 11,073 15,529 19,409 14,418 in the insurance sector including the Sri Lanka Before Tax Insurance Corporation Ltd. (SLIC), Agricultural and Foreign Exchange Loss and Agrarian Insurance Board (AAIB), National Foreign -20,193 -10,038 -2,205 -11,875 1,359 Insurance Trust Fund (NITF) and Sri Lanka Export Exchange Gain/(Loss) Credit Insurance Corporation (SLECIC). Profit / (Loss) -14,168 1,035 13,324 7,534 15,777 for the year In 2019, the insurance industry grew by 8.4 Outstanding 14,889 12,505 12,916 12,884 10,990 debts to Banks percent in the Gross Written Premium to Rs. Outstanding 218,260 224,840 60,122 66,335 59,985 196.8 billion from Rs. 181.5 billion in 2018. The debts to value of total assets of the insurance sector as Government/ Foreign Loan a whole increased by 11.6 percent to Rs. 691.4 Interest on 3,762 4,302 2,082 2,256 2,372 billion in 2019, compared to Rs. 619.8 billion in Foreign Loans 2018. The insurance penetration in the country Key Performance Indicators TEU's Handling 5.19 5.73 6.21 7.05 7.2 increased to Rs. 1.31 million during 2019 from (Nos Million) Rs. 1.26 million in 2018, while the insurance density increased to Rs. 9,013 million in 2019 from Rs. 8,376 million in 2018.
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Sri Lanka Insurance Corporation Limited National Insurance Trust Fund
Being the largest state owned insurance National Insurance Trust Fund (NITF) has been company in Sri Lanka, Sri Lanka Insurance established in 2006 by an Act of Parliament and Corporation Ltd. (SLIC) has an asset base of engages in the insurance business by offering Rs. 212.5 billion and the largest life fund in the several products including, the Agrahara insurance industry of Rs. 118 billion and stated Insurance Scheme, Agricultural Loan Protection capital of Rs. 6.0 billion. In 2019, the Fitch Insurance Scheme, Crop Insurance Scheme Ratings upgraded SLIC’s National IFS Rating to and General Insurance- Motor and Non- Motors ‘AAA (lka)’ with a Stable Outlook from ‘AA+(lka)’. sector policies. Further, NITF acts as a reinsurer of any liability carried by any person in the Table 7.17 | Financial Outturn of Sri Lanka Insurance insurance industry or any insurer in or outside Corporation Ltd. of Sri Lanka and since 2007, it maintains the Rs. Million Strike, Riot, Civil Commotion and Terrorism Actual Provisional (SRCC&T) Fund. Description 2015 2016 2017 2018 2019 Revenue 31,156 42,107 39,400 44,452 48,774 Table 7.18 | Financial Outturn of National Insurance Gross written 24,520 27,615 31,438 31,738 33,794 Trust Fund premium Net earned 20,393 24,013 25,938 28,005 29,772 Rs. Million premium Actual Provisional Description Benefit, Losses -21,539 21,870 -18,351 -24,064 -23,769 2015 2016 2017 2018 2019 & Expenses Total Revenue 8,788 9,839 12,764 15,003 17,717 Investment 9,506 17,274 13,462 13,059 17,772 Gross Written 5,063 6,814 9,071 9,684 12,693 income Premium Operating & -4,975 -6,446 -7,484 -5,030 -4,877 Contribution 1,637 2,004 2,727 4,017 4,839 Administrative received for Expenses Agrahara Profit from 4,820 13,791 13,564 15,305 20,038 Crop insurance 1,259 1,511 1,878 2,138 1,780 operations levy collected Net Profit for 3,439 12,741 4,569 13,399 18,976 Net earned 7,931 8,851 11,614 13,653 16,448 the year premium income Key Performance Indicators Other income 856 989 1,150 1,350 1,269 Claims ratio – 64 70 67 67 61 General (%) Reinsurance – -761 -1,175 -2,486 -1,191 Capital 402 427 434 440 434 ceded Adequacy Insurance Claims -3,226 -5,543 -9,901 -9,691 9,934 ratio- Life (%) & Benefits Capital 213 186 188 208 208 Underwriting & -947 -1,068 -1,441 -1,609 -2,056
Adequacy acquisition cost 07 Chapter ratio- – General Total Expenditure 226 388 344 415 552 (%) Staff Related 84 164 201 219 240 Life Fund 77,858 87,537 98,580 107,108 118,000 Costs Sources : Sri Lanka Insurance Corporation Ltd. and Department of Administration & 142 224 143 196 312 Public Enterprises Other Expenses Income over 4,390 2,840 1,077 3,289 3,008 SLIC recorded a revenue of Rs. 48,774 million Expenditure Agrahara Claims 132,126 140,216 165,379 185,870 230,029 in 2019, an increase of 9.7 percent, compared received(Nos) to Rs. 44,452 million in 2018. Gross Written Agrahara Claims 116,780 124,964 149,039 166,675 213,187 Premium (GWP) increased by 6.5 percent paid(Nos) Agrahara premium 1,637 2,004 2,727 4,017 4,858 to Rs. 33,794 million in 2019 from Rs. 31,738 collected million in 2018. The GWP from life insurance Agrahara Claims 1,581 1,967 2,757 4,033 5,257 business increased by 12 percent to Rs. 14,820 paid million in 2019 from Rs. 13,206 million in 2018. Sources : National Insurance Trust Fund and Department of Public SLIC reported a GWP of Rs. 18,974 million for Enterprises non-life insurance in 2019, an increase of 2.4 NITF’s revenue increased by 18 percent to Rs. percent, compared to Rs.18,532 million in 2018. 17,717 million in 2019 from Rs. 15,003 million Meanwhile, the declared dividends amounted in 2018. GWP increased by 31 percent to to Rs. 1,720 million in 2019. Rs. 12,693 million in 2019, compared to Rs. 9,684
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million in 2018. Agrahara Medical Scheme and by the General Treasury increased to Rs. 5,450 National Natural Disaster Insurance Scheme million in 2019 from Rs. 5,000 million in 2018. recorded a loss of Rs. 1,426 million in 2019 and the sustainability of these insurance schemes SLTB introduced an accounting package, are at risk. Further, the dual roles played by the “SAGEE ERP System” to streamline the NITF creates a conflict of interest, which needs reporting system of bus depots throughout to be addressed in the medium term through a the country enabling better decision making. business reorganization. In 2019, the SLTB purchased 325 normal buses under finance leasing method and 9 NITF’s profit declined by 8.5 percent to Rs. air-conditioned luxury buses on a cash basis. 3,008 million in 2019 from Rs. 3,289 million With the introduction of the salary conversion in 2018. NITF’s investments in government for almost 23,000 primary level (PL) staff, the securities increased from Rs. 10,675 million in SLTB’s overtime cost increased by 44 percent 2018 to Rs. 15,445 million in 2019 recording to Rs. 3,004 million. a growth of 45 percent. NITF paid Rs. 3,268 million as a levy to the Consolidated Fund in Table 7.19 | Financial Outturn of Sri Lanka Transport 2019. Board Rs. Million 7.7 Commuter Transportation Actual Provisional Description 2015 2016 2017 2018 2019 Sri Lanka Transport Board Revenue 39,777 43,409 46,243 43,479 41,975 Operational 26,790 30,260 33,928 31,750 31,024 Sri Lanka Transport Board (SLTB) is a key player Income Other income 12,987 13,149 12,315 11,729 10,951 in public transportation sector while it serves Expenditure 39,508 43,502 43,404 41,182 39,955 in uneconomical routes particularly in remote Salary 20,235 20,096 18,380 19,201 20,335 areas through Gemi Seriya, night-time services Fuel 12,752 12,852 13,067 14,634 13,701 through Nisi Seriya and providing low-cost Other Running 3,529 4,147 4,261 4,427 4,631 transportation services to school children Cost through Sisu Seriya. SLTB which has 109 bus Overhead 2,455 5,744 7,042 2,480 1273 depots and has covered 431 million kilometers Finance Cost 537 663 654 440 15 using 5,966 buses in 2019. Cash Profit/ 269 -93 2839 2,297 2,020 (Loss) Before Gov. financial SLTB has been a profit-making entity from 2016 Assistance to 2019 with a net profit of Rs. 1,555 million in Gov. financial 1,300 1,643 964 1225 1,513
Chapter 07 Chapter 2019, an increase of Rs. 260 million, compared Assistance Cash Profit 1569 1,550 3,803 3,522 3,533 to that of 2018, mainly due to the infusion (Loss) of capital by the General Treasury, into its Depreciation 2,145 2,053 2,120 2,171 1,978 operations in 2014 by supporting the purchase Production 175 129 67 56 0 of 2,200 new buses. Continuous financial Loss support by the General Treasury from time to Accounting -751 -632 1616 1,295 1,555 time enabled the SLTB to be a profitable entity Profit (Loss) with a relatively low liability position. Key Performance Indicators Fuel Cost per km 27.91 27.87 28.18 31.91 31.7
No. of 77666 However, total revenue generated by SLTB Employees declined by 3 percent to Rs. 41,975 million, per bus driven mainly by a 7 percent decrease in the Avg. buses 5,270 5,318 5,266 5,227 5079 operated per waybill revenue to Rs. 27,286 million together day with a decrease in other Source of income. Break – down 3,085 3,274 2,808 2,610 1052 In the background, the operated kilometers buses declined to 431 million in 2019 from 446 million Operated km Mn 440 452 448 446 431 in 2018. Average bus utilization per day reduced Bus Fleet Age Analysis to 5,079 in 2019 from 5,227 in 2018 driven Less than 5 yrs 3,140 3,034 2,828 2,559 2423 (Nos) mainly by the disruptions caused by the Easter Less than 10 Yrs 2,098 1,639 888 968 1134 Sunday attacks. Season ticket subsidy given (Nos)
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Table 7.19 | Financial Outturn of Sri Lanka Transport Table 7.20 | Financial Outturn of Airport and Aviation Board contd... Services (Sri Lanka) Limited contd... Actual Provisional Rs. Million Description 2015 2016 2017 2018 2019 Actual Provisional Description 10 > 15 (Nos) 667 745 1598 1,786 2,109 2015 2016 2017 2018 2019 Over 15 Yrs (Nos) 1,874 2,350 1,988 1,629 1,608 Personal 5,658 6,013 6,425 7,467 8,128 Total (Nos) 7,779 7,768 7,302 6,942 7,274 Expenses Sources : Sri Lanka Transport Board and Department of Public Administration 566 530 421 246 402 Enterprises expenses Establishment 992 1,137 1,149 1,416 1,628 Expenses Figure 7.7 | Performance of Sri Lanka Transport Board Depreciation 2,660 2,665 2,230 2,694 2,856
4,000 Repairs and 249 297 356 398 463 3,500 Maintenance 3,000 Expenses 2,500 2,000 Net Finance 3,196 778 -590 6,063 -2,995 1,500 Expenses
Rs. Million 1,000 Net Profit 2,378 6,909 10,762 10,453 15,233 500 before tax - (500) 2015 2016 2017 2018 2019 Total Assets 65,286 71,076 87,020 100,834 108,274 (1,000) AccounƟng ProĮt (Loss) Cash ProĮt (Loss) Total 54,273 54,640 63,757 72,356 69,035 Liabilities Source: Sri Lanka Transport Board and Department of Public Total Equity 11,012 16,436 23,263 28,479 39,239 Enterprises Total 37,730 37,679 42,780 49,208 47,560 Borrowings 7.8 Aviation Borrowings 161 764 6,333 1,391 2,150 during the Airport and Aviation Services (Sri Lanka) year Limited Key Performance Indicators Passengers 8.5 9.5 10 11 10 Movements Airport and Aviation Services (Sri Lanka) Limited (Nos) (Million.) (AASL) provides aeronautical services in Sri Transits 1.2 1.3 1.5 1.5 1.7 passengers Lanka under the mandate granted by the Civil (Nos) (Million.) Aviation Act, No.14 of 2010. AASL’s principal Passenger 23 24 26 26 26 activities include management of airports in Processing internationally accepted standards, provision Time – Arrival (in Min.) of air navigational services for inbound aircraft Passenger 21 24 25 24 25 and aircraft flying through the Sri Lanka Flight Processing 07 Chapter Information Region (FIR) and providing other Time – Departure (in necessary facilities to the users of the airports. Min.) Sources : Airport and Aviation Services (Sri Lanka) Ltd and In 2019, the AASL has been entrusted with Department of Public Enterprises the management of Ratmalana Airport, Jaffna International Airport (former Palali airport) Although, aeronautical revenue increased by and Batticaloa Airport, which was previously only around 3 percent in 2019 and operational operated only as domestic airports, upgraded costs increased by 11 percent, the profit before to international status. tax increased by 46 percent to Rs. 15,233 million in 2019, compared to 2018, mainly due Table 7.20 | Financial Outturn of Airport and Aviation to the non-operational gains derived from net Services (Sri Lanka) Limited interest income of Rs. 2,995 million, a significant Rs. Million turnaround from the net interest expense of Rs. Actual Provisional 6,063 million in 2018. Description 2015 2016 2017 2018 2019 Revenue 16,745 20,224 23,536 28,737 25,715 As at 31 December 2019, total borrowings which Aeronautical 3,737 4,379 4,618 5,234 5,431 include the loans obtained through the General Non Aeronautical 11,481 13,635 15,874 19,724 20,221 Treasury for the development of Bandaranaike Other Income 480 316 263 3,779 63 International Airport, Rathmalana Airport and Expenditure 14,367 13,315 12,774 18,284 10,482
165 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Mattala Rajapaksa International Airport backed presence in Indian sub-continent. SLA has by sovereign guarantees declined to Rs. 47,560 operated 320 scheduled flights per week with a million in 2019 from Rs. 49,208 million in 2018. fleet of 27 aircraft and SLA in collaboration with As such, total liabilities of AASL decreased from codeshare partners, covers 109 destinations in Rs. 72,356 million in 2018 to Rs. 69,035 million 48 countries. The airline maintained an overall in 2019. cabin factor of 82.9 percent in 2018/19 by carrying a total of 5.66 million passengers while SriLankan Airlines business class cabin factor being the average of 59.3 percent. During the year, Hong Kong SriLankan Airlines (SLA) network serves 37 and Visakhapatnam routes were discontinued. online destinations in 20 countries with a strong
Table 7.21 | Financial Outturn of SriLankan Airlines Rs. Million Actual Description 2014/15 2015/16 2016/17 2017/18 2018/19
Total Revenue 131,922 129,480 135,464 161,434 180,340 Passenger 106,601 103,945 105,001 131,494 147,900 Cargo 13,595 12,074 11,987 14,621 15,828 Excess Baggage 958 842 927 1,032 1,074 Other Income 10,767 12,620 17,549 14,286 15,538 Total Expenditure 150,881 145,724 167,959 184,523 228,586 Aircraft fuel cost 53,451 33,199 33,130 47,038 60,673 Employee cost 15,057 16,748 18,797 19,454 20,368 Airport, aeronaut and passenger expenses 22,419 22,642 23,788 28,659 29,780 Aircraft Maintenance and overhaul costs 11,988 14,515 17,644 22,829 26,953 Rentals on Leased Aircraft 16,316 20,130 22,789 25,726 29,099 Selling , Marketing and advertising expenses 11,773 11,431 12,657 15,634 15,775 Crew Expenses 4,801 5,484 5,436 6,036 6,582 Other Operating Expenses 7,196 6,758 6,783 6,711 15,057 Realized/Unrealized Exchange (Gain)/Loss 707 3,719 3,668 2,017 11,805 Depreciation and Amortization 2,276 2,684 2,042 1,779 1,644 Net Financial Cost 4,897 5,851 6,863 8,639 10,850 Compensation for cancellation of aircraft lease – 2,562 14,363 - - agreement Other income and gains 2,526 3,622 3,565 5,876 4,223 Chapter 07 Chapter Profit / (Loss) Before Tax -16,433 -12,622 -28,930 -17,214 -44,023 Accumulated losses -28,232 -141,080 -169,755 -186,597 -230,590 Serious loss of Capital Yes Yes Yes Yes Yes Key Performance Indicators Passenger carried (RPK Million) 12,963.71 12,727.66 12,455.05 15,280.78 15,689.19 Aircraft Fleet (Nos) 21 21 24 26 27 Passenger Capacity (ASK Million) 16,180.27 15,790.28 15,608.10 18,487.54 18,925.40 % of Fuel Cost on Total Revenue 41 26 24 29 34 Passenger Load Factor 80.12 80.6 79.8 82.65 82.9 Sources : SriLankan Airlines and Department of Public Enterprises
Although SLA increased its revenue at around a 156 percent increase over 2017/18 and the 12 percent to Rs. 180,340 million, the increase in accumulated loss has increased to Rs. 230,590 expenditure by 24 percent to Rs. 228,586 million million by 31.03.2019. Moreover, the rental on with an increase in almost every expenditure leased aircrafts accounted for 15.3 percent of category, mainly due to the increase in exchange operating expenses in 2018/19. Company’s loss by more than fourfold to Rs. 11,805 million, current liabilities exceeded its current assets the fuel cost by 24 percent to Rs. 60,673 by Rs. 186,339 million. Total liabilities exceeded million has resulted in the SLA incurring a loss total assets by Rs. 177,556 million indicating of Rs. 44,023 million in 2018/19. This is almost material uncertainty on SLA’s going concern.
166 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
However, SLA being the national carrier that in expenditure by almost 8 percent to Rs. 4,826 brings tourists and cargo to Sri Lanka, the million in 2019. government has granted approval confirming its support to SLA to continue operations. SEC’s receivables of Rs. 1,717 million in 2018 declined by 14 percent to Rs. 1,476 million at SLA has cancelled four A350–900 lease the end of 2019. SEC encountered financial agreements on aircrafts that were to be constraints and poor performance due to long delivered in 2016/17 by paying a cancellation delays in receiving payments from government fee of Rs. 2,562 million and Rs. 14,363 million in institutions, weak construction administration financial year 2015/16 and 2016/17, respectively and the lack of modern machinery. creating a heavy financial impact on its balance sheet. Given the liquidity constraints, a Treasury guarantee amounting to Rs. 2,000 million 7.9 Construction was issued to facilitate the SEC to obtain a Bank loan while another Treasury guarantee The State Development and Construction amounting to Rs. 300 million, was issued to Corporation (SD&CC) which undertakes heavy support the National Equipment and Machinery civil engineering contracts such as bridges, Organization (NEMO), a project unit of the SEC, roads, irrigation structures and buildings etc, to obtain a loan to finance current and future the Central Engineering Consultancy Bureau projects. Action has been initiated to combine (CECB) which provides consultancy services, the operation of NEMO with SEC. This includes the Construction Engineering Services Limited a Voluntary Retirement Scheme (VRS) which (CESL), which is a fully owned subsidiary of has already been offered to the excess staff and the CECB that engages in construction work the General Treasury has provided the required and the State Engineering Corporation (SEC) funding for the VRS. which provides construction and consultancy services for both private and public sector Table 7.22 | Financial Outturn of State Engineering organizations constitutes the SOE’s in the Corporation construction sector. In the last 5 years SD&CC, Rs. Million CECB and CESL have managed to be profitable, Actual Provisional Description while the SEC has continuously incurred losses. 2015 2016 2017 2018 2019* Revenue 3,608 2,335 2,960 3,136 3,872 All the entities in this sector have suffered Construction 2,134 1,211 1,911 2,025 2,657 significantly from the liquidity constraints, with Consultancy 172 263 301 186 182 the government failing to meet their dues for the Other Income 1,302 861 748 925 1,033 07 Chapter work undertaken on time. The total receivables Expenditure 4,317 3,293 3,900 4,473 4,826 Operating 2,475 1,462 1,937 2,386 2,310 from the government entities of SEC, CECB and Expenditure SD&CC amounted to nearly Rs. 13,736 million Staff Cost 1,678 1,635 1,677 1,741 1,870 for work undertaken mostly without adequate Financial Cost 77 112 196 242 366 budgetary allocations in 2019. The construction Other 87 84 90 104 280 entities in the private sector have been similarly Expenditure affected, given their dues have not been met Profit/ (loss) -709 -958 -940 -1,337 -954 on time, on work undertaken by them directly Outstanding 563 1,261 2,050 2,115 2,683 Debts to of government and on subcontract basis from Banks these SOEs in the construction sector. Receivables 1,726 1,894 2,182 1,717 1,476 Sources : State Engineering Corporation and Department of Public State Engineering Corporation Enterprises *Without accounts of National Equipment and Machinery State Engineering Corporation (SEC) declined Organization its losses by 28 percent to Rs. 954 million in Central Engineering Consultancy Bureau 2019 driven by the increase in revenue by 23 percent to Rs. 3,872 million in 2019 from Rs. Central Engineering Consultancy Bureau 3,136 million in 2018 outweighed by an increase (CECB), amidst the decline in its revenue by
167 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
21 percent to Rs. 8,032 million and expansion Although total revenue of SD&CC increased by of cost of employment in 2019 recorded 64 percent to Rs. 5,057 million, compared to deteriorated operational results evidenced by 2018, with the increase in expenditure by 65 the reduction of profit to Rs. 340 million in 2019 percent to Rs. 5,046 million, net profit declined against the profit of Rs. 526 million in 2018. to Rs. 11 million in 2019 from Rs. 18 million in CECB was afflicted with liquidity constraints 2018. The increase in turnover was due to higher as the delays in receivables, with a further number of projects available during the year increase in total receivables to Rs. 11,741 million 2019. Trade receivables increased significantly at end 2019. with government institutions not been able to meet their dues on time. Figure 7.8 | Performance of CECB (Rs. Million) Table 7.24 | Financial Outturn of State Development & 16000 2000 Construction Corporation 14000 Rs. Million 12000 1500 Actual Provisional 10000 Description 2015 2016 2017 2018 2019 t 8000 1000 Į
Pro Revenue 2,608 2,256 2,530 3,082 5,057 816
Revenue/Exp. 6000 755 Construction 2,429 2,102 2,348 2,878 4,932 582 4000 531 500 Others 179 154 182 204 125 340 2000 Total 2,558 2,223 2,518 3,064 5,046 Expenditure 0 2015 2016 2017 2018 2019 Operating 1,711 1,264 1,499 2,007 3,832 Year Expenditure Revenue Expenditure ProĮt/ (loss) Staff Cost 602 697 815 827 910 Financial Cost 87 96 118 145 230 Table 7.23 | Financial Outturn of Central Engineering Others 158 176 86 85 74 Consultancy Bureau Profit/ (loss) 50 23 12 18 11 Rs. Million Outstanding 662 705 839 1,111 1,334 Debts to Actual Provisional Description Banks 2015 2016 2017 2018 2019 Receivables 377 451 353 418 519 Revenue 11,034 10,817 13,691 10,128 8,032 Sources : State Development & Construction Corporation and Construction 8,734 8,209 10,769 7,032 5,128 Department of Public Enterprises Consultancy 1,976 2,124 2,427 2,634 2,420 Other Income 323 484 495 462 484 7.10 Lotteries Expenditure 10,452 10,000 12,936 9,602 7,692 Operating 9,033 8,679 11,620 7,970 5,856 Chapter 07 Chapter Expenditure The National Lotteries Board (NLB) and the Staff Cost 1,190 1,102 1,174 1,334 1,783 Development Lotteries Board (DLB) have Financial Cost 9 6 10 13 4 been offered traditional passive and instant Other 220 213 132 285 49 lotteries. The NLB’s portfolio consists of 17 Expenditure types of lotteries and the surplus is channeled Profit/ (loss) 582 816 755 526 340 to the Consolidated Fund and the relevant Receivables 4,918 5,863 8,476 11,485 11,741 other funds. The DLB engages with 11 brands of Sources : Central Engineering Consultancy Bureau and Department lotteries, the surplus is mainly remitted to the of Public Enterprises President’s Fund and the Mahapola Trust Fund. State Development & Construction The total revenue of the industry grew by 8 Corporation percent to Rs. 39,884 million in 2019, compared to Rs. 37,021 million in 2018. Both entities State Development and Construction have contributed to around 12–14 percent of Corporation (SD&CC) completed projects their total revenue to either President’s Fund, amounting to Rs. 991 million including the Consolidated Fund or Mahapola Trust Fund. construction of Sisu Daham Sevana (Daham Both NLB and DLB together operate with same Schools), general hospital building in island wide network of around 3,000 agents Polonnaruwa and nine bridges in Hambanthota. and 100 dealers, while more than 15,000 distributors are working under the agents. The NLB and DLB are yet to utilize the mobile,
168 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 online and virtual platforms in creating lotteries Development Lotteries Board and selling the same. Development Lotteries Board (DLB) has an National Lotteries Board island wide agency network of around 3,000 agents and dealers. DLB’s revenue increased National Lotteries Board (NLB) has an island by 7.4 percent to Rs. 17,361 million in 2019 wide agency network of around 3,100 agents from Rs. 16,171 million in 2018 and since the and dealers. NLB recorded a revenue of Rs. expenditure has increased by 7.7 percent to 21,439 million in 2019, an increase of 9 percent, Rs. 14,237 million, DLB recorded a profit of compared to Rs. 19,675 million in 2018 and since Rs. 2,897 million which is an increase of 5.9 the expenditure increased by only 7.8 percent percent, compared to Rs. 2,735 million in 2018. to Rs. 20,397 million, NLB’s profit increased by The net prize payout of the year stood around 27.5 percent to Rs. 1,323 million in 2019 from Rs. 8,556 million, an increase of 7.9 percent Rs. 1,038 million in 2018. Prizes declared by NLB over 2018. DLB increased its contribution to grew by 7.8 percent to Rs. 10,608 million in 2019 the President’s Fund by 18 percent to Rs. 2,428 from Rs. 9,834 million in 2018. The contribution million in 2019 from Rs. 2,058 million in 2018. to the Government increased by 8.7 percent to Rs. 2,638 million in 2019 from Rs. 2,427 million Table 7.26 | Financial Outturn of Development in 2018. Lotteries Board Rs. Million Table 7.25 | Financial Outturn of National Lotteries Board Actual Provisional Description Rs. Million 2015 2016 2017 2018 2019 Actual Provisional Revenue 11,994 14,921 14,068 16,171 17,361 Description 2015 2016 2017 2018 2019 Lottery sale 12,280 15,314 14,628 16,583 17,805 Revenue 16,660 19427 16,015 19,675 21,439 income Lottery Sale 17,394 20,170 16,747 20,438 22,079 Less Indirect 405 554 647 722 734 Income Taxes – VAT Less Direct Taxes - - 131 - - - NBT 194 241 229 259 251 – Excise Duty -Excise - - 111 - - Less Indirect 573 707 742 890 911 Other Income 58 119 130 202 194 Taxes – VAT Prize Write back 255 283 297 367 347 - NBT 253 286 236 287 282 Expenditure 9,601 12,031 11,569 13,223 14,237 Other Income 92 250 377 414 553 Agency 2310 2,676 2,529 2899 3,209 Expenditure 15,749 18,530 15,414 18,924 20,397 and Dealer Agency and 3,245 3,772 3,103 3,573 4,005 Network Dealer Network Commission Commission Prizes Declared 6,150 7,755 7,263 8,296 8,903 07 Chapter Prizes Declared 8,368 9,723 7,995 9,834 10,608 Draw Cost 261 322 466 575 584 Tickets Printing 494 610 453 507 531 Tickets 325 444 387 402 460 Cost Printing Cost Distribution, 1,284 872 1246 1,534 1,508 Distribution, 223 457 494 589 539 Sales & Marketing Sales & Admin Expenses 573 602 693 752 809 Marketing Finance Cost 30 37 40 43 25 Admin Expenses 332 377 419 464 542 Contribution to 1,888 2,131 2,016 2,427 2,638 Net Profit 2,389 2,700 2,331 2,735 2,897 Consolidated Before Tax Fund Income Tax 662 914 1819 553 235 Net Profit Before 109 911 624 1,038 1,323 Net Profit 1,727 1,786 511 2,182 2,662 Tax After Tax Income Tax 118 670 484 1,076 717 Contribution to 1,727 1,786 507 2,058 2,428 Net Profit After -9 241 139 -38 606 President Fund Tax Dealers 2,242 2,854 2,854 2,900 3,000 Key Performance Indicators Contribution 14.06 11.57 3.43 12.73 14 Agency network 2,500 2,500 3,000 3,100 3,100 to President fund as a % of Contribution to 12.46 12.25 12.12 12.34 12.3 revenue consolidated fund as a % of revenue Sources : Development Lotteries Board and Department of Public Sources : National Lotteries Board and Department of Public Enterprises Enterprises
169 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
7.11 Livestock and Dairy million litres in 2018. The decline of national milk production mainly due to the domestic The National Livestock Development Board outbreak of foot and mouth disease during the (NLDB) and the Milco (Pvt) Limited (MILCO), second half of the year, intense competition the two State-Owned Enterprises which are in the industry and weaknesses in supply engaged in manufacturing and marketing chain management of the company including livestock products, play an important role in payment delays to the suppliers contributed to achieving self-sufficiency in dairy products. declining in the milk collection.
Milco (Pvt) Ltd Loss-making trend of MILCO continued since 2017 incurring a loss of Rs. 619 million in 2019. MILCO, which was established to make Even though expenditure reduced to Rs. 10,992 the country self-sufficient in fresh milk is million, driven by a significant decline in direct presently engaged in collecting, processing expenditure which includes the cost of milk and the distribution of milk-based products collection due to the reduction of the same, in the country. MILCO has a product portfolio revenue declined by 14 percent to Rs. 10,373 consisting of yoghurt, pasteurized milk, million, which has resulted in an increase of the sterilized milk, curd, butter, ice cream, ghee, loss by 2 percent in 2019 over 2018. MILCO has processed cheese and milk powder. MILCO paid its farmers an average price of Rs. 68.81 managed to retain its market leadership in per litre in 2019, compared to Rs. 68.71 per litre yoghurt and liquid milk while competing with paid in 2018. many others in the market leveraging on its brand, “Highland”. National Livestock Development Board
Table 7.27 | Financial Outturn of Milco (Pvt) Ltd National Livestock Development Board Rs. Million (NLDB) was established in 1973 to produce Actual Provisional quality breeding materials, livestock and Description 2015 2016 2017 2018 2019 agricultural products to enhance socio- Revenue 8,010 9,006 10,593 12,031 10,373 economic standards of the citizens. At present, Sale of Milk 7,584 8,679 10,161 11,617 10,297 it engages in breeding and multiplication of Production livestock, issuing quality breeding materials Other Income 426 327 432 414 75 to farmers at a reasonable price, maintaining Expenditure 8,006 8,679 11,199 12,637 10,992 coconut plantations, practising livestock/crop Direct 7,012 7,844 9,817 11,271 9,689 Expenses integrated farming system, providing training
Chapter 07 Chapter Selling & 202 233 351 476 377 and demonstration facilities to farmers, school Distribution children, officials involved in agriculture Administration 617 533 676 683 693 and livestock smallholders, establishing and Finance cost 108 52 99 189 199 maintaining sales outlets to supply quality farm Other 67 17 256 18 35 products at reasonable prices, producing value- Expenditure Profit/(Loss) 4 327 -606 -606 -619 added products using new materials produced Before Tax in farms to get a high-profit margin and sale of Outstanding 879 552 1,418 1613 1,272 fresh cow milk to the public to popularize the Debt to Banks consumption of fresh milk. Key Performance Indicators Milk 62 70 96 91 67 Collection NLDB presently manages 8 dairy farms (neat (ltrs. Million) cattle), 2 buffalo farms, 1 goat and sheep farm, Earnings per 0.52 10.24 -18.98 -18.97 -19.37 4 poultry and poultry breeder farms, 1 swine share Rs. farm, 10 coconut and dairy buffalo farms, 3 Sources : Milco (Pvt) Ltd and Department of Public Enterprises coconuts with swine farms, 1 drought cattle farm, 1 training centre and 42 milk stalls to MILCO collects fresh milk from around 55,000 achieve its objectives. Farmer Managed Societies (FMSs). Raw milk collection of MILCO has decreased by almost The slight increase in revenue to Rs. 2,769 26 percent to 67 million litres in 2019 from 91 million in 2019 coupled with the around 1
170 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 percent decrease in expenditures driven by to meet the needs of a wide spectrum of the the decline in direct expenditures has resulted consumers. This weak management has been in the NLDB incurring a loss of Rs. 510 million inimical to the LSL’s ability to compete with in 2019. However, the loss incurred in 2019 private sector retail store chains. declined by 13 percent in 2019, compared to 2018. Even though the company’s gross profit ratio remained at 13 percent in 2019 the same as the Table 7.28 | Financial Outturn of National Livestock previous year, it has struggled with a significant Development Board operating loss amounting to Rs. 1,643 million Rs. Million in 2019, which is an increase of 24.7 percent Actual Provisional over 2018. Revenue declined by 13 percent Description 2015 2016 2017 2018 2019 to Rs. 25,492 million in 2019, compared to Revenue 2,308 3,051 2,844 2,742 2,769 Rs. 29,166 million in 2018 mainly due to LSL’s Expenditure 2,272 3,041 3,714 3,331 3,278 failure in meeting the customers’ demand for Direct 1450 2,057 2,620 2,254 2,071 essential food items. This was arisen due to poor Expenditure credit settlements to suppliers has resulted in Administrative 699 850 892 843 984 Expenditure the suppliers being reluctant to supply goods Distribution 14 5 15 2 2 continuously. Though the other expenditure Expenditure has reduced by 4 percent, this benefit has not Other 20 7 9 52 10 been capitalized due to loss of margin through Expenditure revenue reduction and increased interest Finance 89 122 178 181 211 Expenditure expenses which led to increasing in the net Profit/(Loss) 35 9 -870 -589 -510 loss by 32.5 percent, compared to 2018. Before Tax Outstanding 83 209 249 202 291 LSL was a highly geared entity, with the Debt to Banks liabilities increasing over its assets, mainly due Key Performance Indicators to the importation of rice during the period of Neat Cattle 10,238 17,240 14,368 15,834 12,432 Milk (lt,‘000) 2014–2015, with credit facilities from Bank of Buffaloes Milk 803 696 635 715 649 Ceylon and People’s Bank. However, as part (lt,‘000) of the restructuring of the LSL, the General Goat Milk 11 9 12.8 13.5 14.8 Treasury has taken over the responsibility of (lt,‘000) servicing loans borrowed by LSL from those Curd 442 500 482 515 533 Production banks amounting to Rs. 9,800 million. LSL is, (lt,‘000) therefore, better equipped to turn around its
Yoghurt 516 421 370 415 350 operations given that the improved financial 07 Chapter (80ml Cups) (Nos,‘000) position. Sources : National Livestock Development Board and Department of Public Enterprises Figure 7.9 | Sales Vs Profit/(Loss) of Lanka Sathosa Limited In 2019, with an investment of Rs. 29 million, NLDB established a state of the art ice cream Sales ProĮt/(Loss) and yoghurt factory at Welisara and it is 31000 6000 30000 expected to introduce new ice cream varieties 4000 and drinking yoghurt to the local market. 29000 2000 28000 7.12 Marketing and Distribution 27000 0
26000 t/(Loss) Rs. Million Sales Rs. Million Sales Rs. Lanka Sathosa Limited -2000 Į Pro 25000 Lanka Sathosa Limited (LSL), a government -4000 24000 owned retail store network operates with a network of 423 outlets. Weak management 23000 -6000 2015 2016 2017 2018 2019 practices which have been prevalent at LSL and Year resulted in the lack of a wide variety of products
171 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 7.29 | Financial Outturn of Lanka Sathosa Limited Rs. Million Actual Provisional Description 2015 2016 2017 2018 2019 Revenue 28,479 30,339 30,377 30,070 26,242 Sales 28,412 29,983 29,663 29,166 25,492 Indirect Income 67 356 713 904 750 Operational Expenses 26,385 34,111 31,810 31,387 27,885 Cost of Sales 23,321 28,991 27,102 25,518 22,263 Other Expenditure 3,064 5,120 4,708 5,869 5,622 Operational Profit/Loss 2,094 -3,772 -1,433 -1,317 -1,643 Finacial Expenses (Net) 1,088 1,341 1,344 933 1,339 Profit/ (Loss) Before Tax 1,259 -5,113 -2,777 -2,250 -2,982 No. of Outlets 303 303 320 403 423 Sources : Lanka Sathosa Ltd and Department of Public Enterprises
7.13 Plantation a profit after tax of Rs. 179 million and Rs. 113 million, respectively, with earnings per share of The plantation sector has been subjected Rs. 8.96 at CPL and Rs. 5.67 at KPL. In addition, to various reform processes including coconut production of CPL and KPL totalled privatisations in the 90’s. Consequently, the to 31.2 million nuts, which is almost 51 percent majority of the estates of the Sri Lanka State increase, compared to the previous year. Plantations Corporation (SLSPC) and Janatha Estates Development Board (JEDB) were formed EPL comprises of 10 estates with a total area of into twenty-three (23) Regional Plantation 4,053.36 hectares, of which 2,320.61 hectares Companies (RPCs) and a golden share of each of productive extent includes tea, rubber, RPC was allotted to the Government. Out of coconut and other minor crops. The balance of such 23 RPCs, the government is the sole owner 1,732.7 hectares comprises of buildings, roads of three companies namely Chilaw Plantations and uncultivated marginal lands which include Limited (CPL), Kurunegala Plantations Limited forest reserves. EPL initiated tea production at (KPL) and Elkaduwa Plantations Limited (EPL). Bandarapola tea factory in 2019 and 38,210 kg Additionally, Janatha Estates Development were produced during the year. In 2019, the Board (JEDB), Sri Lanka State Plantations green leaf production was 2.6 million kg, a 16 Corporation (SLSPC) and Kalubowitiyana Tea percent decrease, compared to 2018. Factory Ltd (KTFL) are under government Chapter 07 Chapter ownership. KTFL began its commercial operations as a CTC tea factory in Kalubowitiyana in 1994 and CPL manages 85 coconut estates located in commenced the operations of Derangala tea the coconut triangle mainly in the Districts of factory as its second tea factory producing Puttalam, Kurunegala and Gampaha, which Orthodox Tea in 2000. Hiniduma and also consists of intercrops such as Cashew, Menikdiwela tea factories were acquired as Rambutan, Pepper, Cinnamon and Dragon Fruit. third and fourth factories later in 2010. During KPL comprises of 8 estates that encompass 2019, KTFL’s revenue declined by 3 percent to different agro-climatic zones spanning the Rs. 971 million and sales quantity increased by three Districts of Kurunegala, Gampaha and 3.9 percent to 1.4 million kg in 2019. Anuradhapura. Coconut is the main crop while rubber had been confined in 3 area estates During 2019, tea production of JEDB and SLSPC and also maintains a range of other crops. totalled to 2.7 million kg and the average yield The aggregate assets base of CPL and KPL is from plantations of JEDB and SLSPC was 485 around Rs. 3,849 million and net assets are kg/ha. JEDB and SLSPC together produced around Rs. 3,229 million. Notwithstanding the 0.4 million Kg of rubber and the average yield unfavorable weather condition and downward reported stood at 517 kg/ha in 2019. trends of rubber and coconut market prices that prevailed in 2019, CPL and KPL recorded The restructuring process which was initiated in 2016 for the long term loss making SOEs
172 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 in the plantation sector has been continued During 2019, four plantations entities namely in 2019. As such, when the JEDB and SLSPC JEDB, SLSPC, KTFL and EPL have made losses. faced cash flow problems and were not able to A strategic plan is urgently required to ensure manage remuneration of workers. Hence, the better utilization of the lands under these financial support was provided by the General entities. Treasury, with the transfer of grants amounting to Rs. 690 million.
Table 7.30 | Financial Outturn of State Owned Plantation Enterprises Actual Provisional 2015 2016 2017 2018 2019 Operational Performance Coconut Production (Nuts Mn) 14 17 11 13 16 Rubber Production (kg) 140,678 144,376 119,486 113,078 107,280 Yield per Ha. – Coconut (Nuts ) 4,414 5,356 3,426 4,018 5,212 – Rubber (kg) 767 809 689 652 677 Financial Performance Total Revenue (Rs. Mn) 492 490 553 613 499 Coconut Sales (Rs. Mn) 442 414 459 532 403 Rubber Sales (Rs. Mn) 31 30 35 27 29 Total Cost of Sales (Rs. Mn) 317 320 316 356 386 Kurunegala Plantations Ltd Kurunegala Net Profit/ (Loss) Before Tax (Rs. Mn) 166 144 248 211 120 Dividends (Rs. Mn) 35 40 38 50 - Operational Performance Coconut Production(Nuts Mn) 13 17 12 8 15 Yield per Ha (Nuts) 3,774 5,923 4,148 2,823 5,025 Financial Performance Total Revenue (Rs. Mn) 479 448 575 350 446 Coconut Sales (Rs. Mn) 399 383 516 291 348 Cost of Sales (Rs. Mn) 250 234 310 350 356
Chilaw Plantations Ltd Chilaw Net Profit/ (Loss) Before Tax (Rs. Mn) 88 85 126 - 89 Dividends (Rs. Mn) 30 30 10 - - Operational Performance Green Leafs (MT) 4,007 2,541 2,711 3,144 2,530 Coconut Production (Nuts Mn) 1 1 1 1 1 Rubber Production (kg) 82,085 75,949 77,348 98,978 87,582
Yield per Ha. – Green Leaf(kg) 749 474 500 590 522 07 Chapter – Coconut (Nuts) 3,492 4,807 2,837 3,099 4,445 – Rubber (kg) 291 350 356 456 274 Financial Performance Total Revenue (Rs. Mn) 279 211 327 333 269 Tea Sales (Rs.Mn) 227 164 247 273 210 Coconut Sales (Rs. Mn) 20 16 24 26 24 Elkaduwa Plantations Ltd. Elkaduwa Rubber Sales (Rs. Mn) 27 28 34 32 27 Total Cost of Sales (Rs. Mn) 312 270 355 399 395 Net Profit/ (Loss) Before Tax (Rs. Mn) -27 -63 37 -34 -111 Treasury Grants- Recurrent 175 76 173 95 - Operational Performance Yield per Ha 186 175 152 150 190 Average Price Rs/kg 250 250 350 400 390 Financial Performance Total Revenue (Rs. Mn) 75 95 101 119 107 Net cashew sale 68 86 90 100 84 Corporation Net Profit/ (Loss) Before Tax (Rs. Mn) 17 32 16 18 43 Sri Lanka Cashew Cashew Sri Lanka Treasury Grants – Recurrent 66 48 58 50 60 – Capital 35 40 80 55 70
173 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 7.30 | Financial Outturn of State Owned Plantation Enterprises contd... Actual Provisional 2015 2016 2017 2018 2019 Operational Performance Tea Production (MT) 1,833 1,314 1,444 1,592 1,385 Rubber Production (MT) 0 0 0 0 363 Yield per Ha. – Tea 483 358 492 482 492 – Rubber 617 758 706 620 602 Financial Performance Board Total Revenue (Rs. Mn) 585 504 1,200 1,000 589 Cost of Production (Rs.Mn) 1,012 892 - 1,041 Net Profit/ (Loss) Before Tax (Rs. Mn) -413 -443 -295 -320 -452
Janatha Estate Development Development Janatha Estate Treasury Grants – Recurrent 617 486 - 425 468 – Capital ---- Operational Performance Tea Production (MT) 1,625 1,453 1,407 1,576 1,405 Rubber Production (MT) 36 37 38 - 28 Yield per Ha. -Tea 525 513 542 546 478 -Rubber 547 563 590 - 432 Financial Performance Total Revenue (Rs. Mn) 487 483 736 790 581 Corporation Cost of Production (Rs.Mn) 690 617 633 653 821 Net Profit/ (Loss) Before Tax (Rs. Mn) -202 -134 -79 -76 -239 Sri Lanka State Plantation State Sri Lanka Treasury Grants – Recurrent 204 100 264 150 222 – Capital ---- Operational Performance Made Tea Production (MT) 1,431 1,792 1,703 1,474 1,460 Sales Quantity (MT) 1,429 1,731 1,632 1,377 1,431 Financial Performance Total Revenue (Rs. Mn) 751 775 935 1,004 971 Factory Ltd Factory Cost of Production (Rs. Mn) 737 767 881 983 985 Kalubowitiyana Tea Tea Kalubowitiyana Net Profit/ (Loss) Before Tax (Rs. Mn) 17 12 31 -7 -53 Operational Performance Sugar Production (MT) 42,984 51,422 42,822 42,770 41,175 Sprit Production (000 Liters) 7,317 11,917 7,045 9,787 5,210 Financial Performance Ltd
Chapter 07 Chapter Total Revenue (Rs. Mn) 4,881 7,728 7,616 6,243 7,546 Sugar Sale (Rs.Mn) 3,270 4,060 4,637 3,149 5,458 Sprit Sales (RS.Mn) 1,611 3,668 2,978 3,094 2,088 Lanka Sugar Company Sugar Company Lanka Net Profit/ (Loss) Before Tax (Rs. Mn) -1,052 1,006 402 144 -1,308 Sources : SOEs and Department of Public Enterprises
Table 7.31 | Performance of Other State Owned Enterprises Description Core Activities Performance Concerns Insurance Sri Lanka Export Provides support services to Although the total operational income The slowdown in the global Credit Insurance the export sector through increased by 6.2 percent to Rs. 245.1 million and local economy and the Corporation the provision of export credit in 2019, the profit before tax of SLECIC fluctuations in the foreign (SLECIC) insurance and credit guarantee decreased by 51 percent in 2019 to Rs. 277 exchange rate. services to the exporters. million from Rs. 419 million in 2018, mainly due to exchange loss in other income category and the increase in expenses on net claims. Agricultural Operates Agricultural Insurance The total profit of AAIB decreased by 32.7 The mismatch in the inflow and & Agrarian Scheme, Farmers Pension Scheme percent to Rs. 411.5 million mainly due to outflows of insurance premium Insurance Board and Fishermen Pension Scheme the decline in operating profit in Agricultural and insurance payments. (AAIB) Insurance Scheme and operating loss recorded in fishermen’s pension scheme.
174 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 7.31 | Performance of Other State Owned Enterprises contd... Description Core Activities Performance Concerns Non Renewable ReSource Lanka Mineral "Mining, processing and LMSL’s revenue increased by 152 percent Products are sold through Sands Ltd (LMSL) marketing of heavy mineral sands. to Rs. 3,891 million in 2019 from Rs. 1,541 intermediaries and with minimal million in 2018. As a result, the profit or no value addition within the Manufacture and sell any by increased to Rs. 2,271 million in 2019 from country. product which may be produced Rs. 621 million in 2018. as a result of refining and processing mineral sands." Lanka Phosphate Excavate, process and sell rock LPL’s revenue increased to Rs. 530 million LPL needs to explore the Ltd (LPL) phosphate which is used as a in 2019/20 from Rs. 493 million 2018. possibilities of new product fertilizer for perennial agricultural Consequently, LPL profit has increased and facilitate the production of crops such as Tea, Rubber and by 75 percent to Rs. 28 million in 2019/19, better quality fertilizer locally. Coconut. from Rs. 16 million 2018/19. Kahatagaha Excavate, process and sell Graphite KGL’s revenue declined to Rs. 119 million by KGLL should explore the Graphite Lanka as industrial raw material 3.2 percent while expenditure also declined possibilities of value adding to Ltd (KGLL) by 39 percent. As a results, KGL’s Profit has the end product. increased to Rs. 31 million compared to Rs. 24 million in 2017/18. Health State Engaged in manufacturing high SPMC increased its profit by 73 percent to SPMC has introduced new Pharmaceuticals quality pharmaceuticals in Sri Rs. 434.7 million in 2019 compared to Rs. formulas for the drug industry Manufacturing Lanka and making them available 251.3 million in 2018. to control the high dependency Corporation at affordable prices. SPMC is on importation of drugs. (SPMC) the only state sector entity in the field of pharmaceuticals SPMC has signed joint manufacturing. agreements with pharma manufacture Companies to expand local production of pharmaceuticals. This has resulted to reduction the importation of some drug items. Sri Lanka Sri Lanka Ayurvedic Drugs SLADC’s revenue increased by 4 percent to Scarcity of herbs as raw material Ayurvedic Drugs Corporation (SLADC) operates Rs. 705.6 million in 2019. However, due to has been a major challenge for Corporation with the prime objective of increased production cost by 24 percent to SLADC. SLADC should expand (SLADC) manufacturing and distributing Rs. 493 million in 2019 compared with Rs. its herbal cultivation to ensure quality Ayurvedic drugs. It 396 million in 2018, SLADC’s profit before tax smooth flow of raw materials manufactures 51 varieties of drugs reduced by 91 percent to Rs.3 million in 2019. while using modern processing and supplies to government method to improve productivity. hospitals, Ayurvedic physicians and to the private sector. State Major supplier and importer of SPC’s income has increased by 33.4 percent Lack of a proper procurement Pharmaceuticals to Rs. 51,884.5 million in 2019 compared to essential medicines and surgical mechanism has resulted in the 07 Chapter Corporation devices for all government Rs. 38,895 million in 2018. suboptimal operations of SPC. (SPC) hospitals and other state institutions. Profit before tax has increased only by 29.2 Weak cash flow management. percent to Rs. 2,176 million in 2019 compared to Rs. 1,685 in 2018, due to substantial payment of Rs. 317 million for overdraft interest. Sri Sri Jayawardenapura General Hospital care income has increased by SJGH should consider to Jayawardenapura Hospital (SJGH) is tertiary 14 percent to Rs. 2,765.7 million in 2019 increase OPD facilities and General Hospital referral center which provides compared to Rs. 2,416.9in2018. laboratory facilities with (SJGH) curative health service as well as modern technology educational training facilities for In spite of the budgetary support of Rs.1,750 undergraduate and postgraduate million in 2019, SJGH has recorded a loss of SJGH needs to enhance medical students. Rs. 94 million for the year 2019. reputable brand by providing the best international quality care to patients, when SJGH can compete with the private sector.
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Table 7.31 | Performance of Other State Owned Enterprises contd... Description Core Activities Performance Concerns Media Independent ITN the pioneer television station Revenue decreased by 4 percent to ITN should implement Television in Sri Lanka, broadcasts and Rs. 1,142 million in 2019 compared with strategies to improve the Network (ITN) produces a variety of programs year 2018. Consequently, losses have quality of their programs to in Sinhala, Tamil, and English decreased by 6 percent to Rs. 587 million attract more viewers and languages including news, in 2019 compared to loss of Rs. 627 in improve its ratings teledramas, documentaries, 2018. educational programmes, children entertainment, reality TV, religious programmes etc. through ITN, Vasantham TV, ITN FM, , Vasantham FM Sri Lanka Produces and broadcast Revenue increased by 3 percent to Rs. SLRC should adopt strategies Rupavahini informative, educational and 1,742 million and cost of sales increased to improve the quality of their Corporation entertaining programmes by 17 percent to Rs. 1,718 million in programmes and to expand the (SLRC) through channels namely year 2019 in comparison to 2018. coverage and improve its ratings Rupavahini, channel Eye and Nethra TV Consequently, SLRC has recorded a net loss of Rs. 501 million in 2019 as compared to Rs. 188 profit in 2018 which also included a government subsidy of Rs. 479 million. Sri Lanka As the oldest radio station SLBC recorded a net loss of Rs. 105 SLBC should adopt strategies Broadcasting in Sri Lanka it is engaged in million in 2019 compared to loss of Rs. 43 to improve the quality of their Corporation broadcasting activities through millionin 2018. programmes and to expand the (SLBC) 06 National channels,(Sinhala coverage and improve its ratings. National Service, Tamil National SLBC was granted budgetary support of Service, Commercial Service, Rs. 365 million in 2019 compared to Rs. City FM, Thendral Service, English 360 million in 2018 Service) 06 Reginal channels(Raja Rata FM, Ruhunu FM, Kandurata FM,Pierei FM,Yal FM, Wayabha Service and 1 community radio channels (Dambhana) with a view to providing its service as the pioneer radio broadcasting network in Sri Lanka. Marketing & Distribution Sri Lanka Marketing of gift and souvenir SLHB was affected by the Easter Sunday Given the present challenges Handicraft Board items both locally and in export attacks resulted to reduced revenue by 16.2 that has arisen from COVID-19 (SLHB) markets to improve the traditional percent to 617 million in 2019 compared to including the lockdowns, closure Handicraft industry and broadening Rs. 737 million in 2018. In spite of a decline of borders, SLHB will have to find the network of the production of in the administrative cost by 6.7 percent, strategic alliances to ensure the handicraft items through preserving the SLHB recorded an operating loss of Rs. sustenance of its operations.
Chapter 07 Chapter and developing the traditional skills 52 million in 2019 However, along with the of Sri Lankan craftsmen. Currently, reimbursement of Rs. 175 million on behalf Gift & Souvenir Boutique operates of “Apegama” project, the entity end up through 14 branches located island the 2019 with overall profit of Rs. 124 million wide compared to profit of Rs. 16.4 million in 2018. State Timber "Extracting and Purchasing of Revenue increased by 5.2 percent to STC should take necessary Corporation timber and converting them Rs. 4,282 million in 2019 compared measures to ensure the (STC) into Value added products. to Rs. 4,069 million in 2018. sustainability of the business by focusing on eco-friendly Sale of logs, sawn timber However, net profit declined by 25 products to cater to niche and finished products. percent to Rs.317 million in 2019 compared market demands in order to Rs.422 million in 2018 mainly due to the to compete with market. Reforestation" reduction of finance income coupled with the increase in administrative expenses. Regular training of skilled STC paid a Levy amounting to Rs. 50 labour is a key factor of the million in 2019. STC to cater the changing market patterns (Eg. furniture).
Focus to gain competitive advantage through the infusion of technology is required to ensure sustainability of the entity.
176 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 7.31 | Performance of Other State Owned Enterprises contd... Description Core Activities Performance Concerns STC General STC engaging with the offering Total revenue declined by 19.8 STC has failed to compete with Trading (STC) various products such as percent to Rs. 3,474 million in 2018/19 other similar entities and has retail, supplying chemicals compared to Rs. 4,334 million in 2017/18. also failed to utilize the benefits and allied products, office of online sales as well supplies, construction materials, As a result, STC recorded a net loss of Rs. 31 agricultural products, motor million in the year 2019 compared to profit cycles, machinery & equipment of Rs. 88 million in 2018, due to the adverse impact of the Ester Sunday attack. and automotive tire and services ranging from household equipment to industrial machinery products. State Printing SPC engages with primarily the Revenue increased by 77 percent mainly SPC needs to reorient its Corporation printing of school text books, due to the increase in the income business model to be a (SPC) exercise books and lottery generated from school text books profitable entity. tickets. printing in 2019. Consequently, SPC was able to reduce its loss significantly to Rs. 169 million in 2019 compared to Rs. 406 million in 2018. Hotel Developers Engages in the business of HDL’s revenue marginally decreased to Rs. With the challenges posed by Lanka Ltd (HDL) hospitality trade, owning Hilton 2,878 million in 2019 from Rs. 2,910 million the outbreak of the COVID-19 Colombo Hotel. in 2018. By the way, losses increased globally, the hospitality by two and half time to Rs. 361 million industry will be required to compared to Rs. 126 million in 2018. reorient their operations. Fisheries Ceylon Fishery Provides fishery harbor related Even though CFHC’s operational income Sub optimal utilization of the Harbours services and supporting declined by 13 percent to Rs.245 million in reSource at the fishery harbours Corporation infrastructure facilities to the 2019, , it recorded a profit of Rs. 20 million and a lack of adequate support (CFHC) fishing communities through in 2019 compared to Rs. 3 million in 2018 for the fishery industry needs to its harbors situated around the as a result of reduction of administrative be addressed immediately. country cost. Ceylon Fisheries Engages in procurement of fish CFC recorded a loss of Rs. 28 million in Absence of a proper business Corporation from fishermen and supply to 2019 compared to Rs. 17 million profit plan to improve sales and (CFC) the market in order to maintain before tax of the last year mainly due to margins. a stable fish price in the market. the absence of government grant in 2019. Fertilizer Colombo CCFL is a one of the state CCFL supplies almost 40 percent of the Since the government has Commercial owned entities engaged in the total paddy fertilizer requirement of the encouraged more organic Fertilizer Co. Ltd importation, mixing, packing and country under the government subsidy fertilizer substitution for (CCFL) distribution of fertilizer in the scheme through Agrarian Service Centers. chemical fertilizer, the CCFL country During the year 2018/19 CCFL imported needs adapt its business model 135,000 MT of paddy fertilizer and accordingly. distributed 89.2 percent i.e. 120,456 MT Chapter 07 Chapter
Revenue dropped from Rs.2,112 million to Rs.1,156 million in 2018/19 mainly due to reduction of the selling price of 50 kg bag. However, profit increased by 5.5 percent to Rs.306 million in 2018/19 from Rs. 290 million in 2017/18. Ceylon Fertilizer CFC is the largest state owned CFC provides about 60 percent of the total CFC needs to reorient its Co. Ltd. (CFC) entity of importation, blending paddy fertilizer requirement of the country business plan in line with and distributing fertilizer on under the government subsidy scheme. the government policy behalf of the government. of encouraging more Revenue dropped by 44.6 percent from organic fertilizer rather 3,374 million in 2017/18 to Rs. 1,870 million than chemical fertilizer. in 2018/19, due to the reduction of the market price of the 50 kg bag of fertilizer. Corporate governance of the However, under the subsidy scheme company needs improvement the CFC claimed Rs.12,741 million from through the proper internal the General Treasury in year 2018/19. control procedures and the The profit increased to Rs. 120 million in automated integrated system 2018/19 in comparison to Rs.39 million in of CFC. previous year.
Source: SOEs and Department of Public Enterprises
177 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Annex I | Profitability of 52 State Owned Enterprises Rs. Million Budgetary Support Enterprise Profit/(Loss) Business Turnover 2019 2017 2018* 2019 * 2019* Recurrent Capital 1 Bank of Ceylon 37,592 33,416 29,685 239,116 2 People’s Bank 25,913 24,406 19,666 197,040 3 National Savings Bank 14,029 7,941 10,462 121,929 4 State Mortgage & Investment Bank 446 480 465 6,125 5 HDFC Bank 557 629 774 8,090 250 6 Pradeshiya Sanwardana Bank (PSB) 2,191 2,103 1,344 27,508 7 Employee’s Trust Fund Board 19,534 18,292 20,570 22,885 8 Sri Lanka Insurance Corporation 5,890 13,399 18,976 48,774 9 National Insurance Trust Fund 813 3,289 3,009 17,717 10 Sri Lanka Export Credit Insurance Corporation -182 419 277 457 11 Agriculture and Agrarian Insurance Board -3,895 612 411 4,684 3,203 12 Ceylon Electricity Board -46,242 -30,458 -85,411 254,944 20,500** 13 Ceylon Petroleum Corporation 3,504 -106,143 -11,835 660,646 14 Sri Lanka Ports Authority 13,222 7,534 15,777 40,770 15 National Water Supply and Drainage Board 1,817 -517 -1,177 26,079 4,411** 16 Airport and Aviation Services (SL )Ltd 10,820 10,458 15,234 25,652 17 SriLankan Airlines Ltd -28,930 -17,214 -44,023 180,340 18 Sri Lanka Transport Board 1,616 1,295 1,555 41,975 13,278 2,628 19 State Engineering Corporation -940 -1,337 -954 3,872 450 20 Central Engineering Consultancy Bureau 755 531 340 8,032 21 State Development and Construction Corp. 12 18 11 5,057 22 Milco (Pvt) Ltd -606 -606 -619 10,373 23 National Livestock Development Board -840 -589 -510 2,769 24 SriLanka State Plantations Corporation -101 -76 -239 581 222 25 Janatha Estates Development Board -399 -320 -452 589 468 26 Kurunegala Plantations Ltd 248 211 120 499 27 Chilaw Plantations Ltd 85 -35 89 446 28 Kalubovitiyana Tea Factory Ltd 31 -7 -53 971 29 Sri Lanka Cashew Corporation 16 18 43 107 60 70 30 Lanka Mineral Sands Ltd 535 621 2,271 3,891 31 Lanka Phossphate Ltd. 32 16 28 530 32 Kahatagaha Graphite Lanka Ltd 24 24 31 119 33 Development Lotteries Board 2,331 2,735 2,897 17,361 34 National Lotteries Board 624 1,038 1,323 21,439 Chapter 07 Chapter 35 State Pharmaceuticals and Manufacturing Corp. 322 251 592 5,647 36 Sri Lanka Ayurvedic Drugs Corporation 60 35 3 706 37 State Pharmaceuticals Corporation 1,868 1,685 2,176 51,885 38 Sri Jayawardenepura General Hospital -144 123 -94 4,587 1,750 590 39 Independent Television Network Ltd -287 -627 -587 1,142 40 Sri Lanka Rupavahini Corporation -196 188 -501 1,742 150 41 Sri Lanka Broadcasting Corporation 75 -43 -105 660 365 126 42 Sri Lanka Handicraft Board 25 22 123 617 150 43 State Timber Corporation 967 422 317 4,282 44 STC General Trading Company 71 88 -31 3,474 45 Lanka Sathosa Ltd -2,777 -2,250 -2,982 26,242 46 State Printing Corporation -229 -406 -169 1,593 47 Ceylon Fisheries Corporation 2 17 -28 2,726 48 Ceylon Fishery Harbour Corporation -65 3 20 245 400 137 49 Ceylon Fertilizer Company Ltd 836 39 120 1,870 50 Colombo Commercial Fertilizer Company Ltd 70 290 306 1,156 51 Hotel Developers Lanka PLC 173 (126) -361 2,878 52 Lanka Sugar Company Ltd 402 144 -1,308 7,546 Total 61,675 -27,961 -2,424 2,120,363 20,346 28,862 Sources : SOEs and Department of Public Enterprises * Provisional ** Equity investments
178 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Annex II | Submission of Annual Reports – 52 State Owned Enterprises 2013 2014 2015 2016 2017 2018 1 Bank of Ceylon √√√√√√ 2 People’s Bank √√√√√√ 3 National Savings Bank √√√√√√ 4 State Mortgage & Investment Bank √√√√√ X 5 HDFC Bank √√√√√√ 6 Pradeshiya Sanwardana Bank √√√√√√ 7 Employees’ Trust Fund Board √√√√√ X 8 Sri Lanka Insurance Corporation Ltd √√√√√√ 9 National Insurance Trust Fund √√√√ X X 10 Ceylon Electricity Board √√√√ X X 11 Ceylon Petroleum Corporation √√√√√√ 12 Sri Lanka Ports Authority √√√√√√ 13 National Water Supply and Drainage Board √√√√√ X 14 Airport and Aviation Services (SL) Ltd √√√√√√ 15 SriLankan Airlines Ltd √√√√√√ 16 Sri Lanka Transport Board √√√√ X X 17 State Engineering Corporation of Sri Lanka √√√√ X X 18 Central Engineering Consultancy Bureau √√√√√ X 19 State Development and Construction Corporation √ √ √ X X X 20 Milco (pvt) Ltd √√√√ X X 21 National Livestock Development Board √√√√ X X 22 Ceylon Fisheries Corporation √ √ √ X X X 23 Ceylon Fishery Harbour Corporation √√√√√ X 24 State Pharmaceuticals and Manufacturing Corporation √√√√√ X 25 Sri Lanka Ayurvedic Drugs Corporation √√√√√√ 26 State Pharmaceuticals Corporation √√√√√ X 27 Sri Jayawardenapura General hospital √√√√√ X 28 Independent Television Network Ltd √√√√ X X 29 Sri Lanka Rupavahini Corporation √ √ √ X X X 30 Sri Lanka Broadcasting Corporation √√√√ X X 31 Ceylon Fertilizer Company Ltd √√√√√√ 32 Colombo Commercial Fertilizer Company Ltd. √√√√√ X 33 State Timber Corporation √√√√√ X Chapter 07 Chapter 34 STC General Trading Company √√√√√ X 35 Hotel Developers Lanka PLC √√√√√√ 36 Lanka Sugar Company Ltd √ √ X X X X 37 Lanka Sathosa Ltd √√√√ X X 38 Development Lotteries Board √√√√ X X 39 National Lotteries Board √√√√√ X 40 Lanka Mineral Sands Ltd √√√√√ X 41 Lanka Phosphate Ltd √√√√√ X 42 State Printing Corporation √ √ √ X X X 43 Sri Lanka Export Credit Insurance Corporation √ X X X X X 44 Agriculture and Agrarian Insurance Board √√√√ X X 45 Sri Lanka State Plantations Corporation XXXXXX 46 Kurunegala Plantations Ltd √√√√√√ 47 Janatha Estates Development Board XXXXXX 48 Chilaw Plantations Ltd √√√√√ X 49 Kalubovitiyana Tea Factory Ltd √√√√√ X 50 Sri Lanka Cashew Corporation √√√√√ X 51 Sri Lanka Handicraft Board √ √ X X X X 52 Kahatagaha Graphite Lanka Ltd √√√√ X X Source: SOEs and Department of Public Enterprises
179 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 07 Chapter
180 PUBLIC FINANCE MANAGEMENT 08
Chapter 08 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
8.1 Overview The concept of e-GP was approved by the Cabinet of Ministers in 2017 and a working group The current government policy is to undertake as the Steering Committee was appointed measures to simplify and streamline systems for the implementation of e-GP system with processes that will enable the access to public the participation of relevant stakeholders i.e.; service more effective and also economical. National Chamber of Commerce, National In this regard, in the latter part of 2019 itself Procurement Commission, Information and a thorough study of the existing regulations Communication Technology Agency of Sri issued through circulars, in particular the Lanka (ICTA), Ministry of Telecommunication financial regulations and procurement and Digital Infrastructure, Attorney General’s guidelines have been undertaken. A preliminary Department, Ministry of Local Government study has indicated that while some circulars and Provincial Councils, School of Computing are archaic and hence requires to be cancelled, (UCSC) of the University of Colombo and most regulations can be simplified and updated two representatives from the business/ to suit the current demands. construction community.
The COVID-19 pandemic has only reiterated the Based on the recommendations of relevant demand to change and adapt the process and stakeholders of the working group the e-GP systems that is currently in existence together Secretariat has been established under the with a reallocation of resources, so as to enable Department of Public Finance in 2018. Further, the smooth functioning of government within an official launch of the e-GP web portal (www. the context of social distancing while also promise.lk) was held in May 2019 and three ensuring transparency and accountability. The awareness sessions were held to introduce the infusion of technology in particular to support e-GP system to the key ministries and as a result remote working processes also demands the e-GP system was implemented with the that the regulatory framework be adapted Ministry of Health successfully in 2019. During accordingly, given the many challenges that the COVID-19, E-GP was further introduced to could arise including the requirement to embed Sathosa and to 08 Other ministries, and is now internal control systems and audit processes. in the process of being introduced across the public sector. 8.2 Electronic Government Procurement (E-GP) At the same time, to facilitate the urgent procurement of items specially medicines, In this context, the introduction of Electronic during the COVID-19 pandemic, a Supplement Government Procurement (e-GP) system is a was issued to the Procurement Manual 2006 in timely measure that is not only cost-effective March 2020. This facilitated government entities but given that it involves the use of information to execute procurements by amending the and communication technology in the limits of the existing procurement committees procurement process such as tender notices, which involve in providing contract award supplier registration and e-submission of bids, recommendations under open competitive
Chapter 08 Chapter a significantly increased level of transparency bidding procedure, shopping procedure, and accountability will also be facilitated. direct contracting and repeat orders.
Issuance of Supplement 35: Procurement Manual – 2006
In order to facilitate Government institutions to carry out the respective procurements smoothly under their purview, the authority limits of Procurement Committees for contract award recommendation/determination were enhanced by issuing the Supplement 35 dated 25.03.2020 in relation to the guideline reference 2.14.1 of the Procurement Manual – 2006 (Goods and Works).
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8.3 Statutory and Non-Statutory Funds 8.4 Parliament Control over Public Finance There are around 210 Statutory and Non- Statutory Funds, that operate outside the boundaries of the Consolidated fund by The Committee on Public Accounts (COPA) various government institutions. A Committee established under Parliament Standing Order was appointed with a mandate to review the No.119, is entrusted examining the performance Statutory and Non- Statutory Funds and to of public entities supported by the Auditor make recommendations on the operations General and the General Treasury is key in of such funds. The recommendations by the discharging the Parliaments role as the sole committee as approved by the Cabinet of authority on Public Finance. Ministers include the following: Several follow up action have also been taken I. Out of the total 210 reviewed funds, a by the Department of Public Finance in relation number of 105 funds have been identified to the reports received in accordance with the as public funds and 10 funds out of the directions of the committee on the operation said identified funds with a high impact. of Ministries and Departments. On the receipt II. Continuation of activities of 21 Funds. of the reports of the COPA, the Third Report III. Closure of funds that has no impact of 2015, Parliamentary Series No 320 and the IV. Acquiring all other funds under the Fourth Report of 2017, Parliamentary Series No financial control of the Parliament in 331 from the Committee on Public Accounts for terms of the Article 148 and 149 of the the financial years 2015 to 2017, actions have Constitution of Sri Lanka. been taken to publish the Treasury Minutes in tri-languages in 2019. During the year around 10 funds including Road Maintenance Trust Fund, National Child At the same time, on recommendation made Development Fund, and Sisu Aruna Scholarships by the COPA the Treasury developed and Fund were wound up and any balance monies introduced a template to be used in presenting in these funds have been transferred to the the Annual Performance Reports entities that consolidated fund by the respective ministries. come under the purview of the COPA.
Introduction of Template for Annual Performance Report
According to the Public Finance circular No 402 dated 12.09.2002 all the Ministries Departments District Secretariats, Provincial Councils and Institutions are requested to prepare their Annual Performance Report Chapter 08 Chapter (APR) and submit to be tabled in Parliament within 150 days from the end of the relevant financial year. However, due to the lack of a common template each of these entities have submitted the APR in giving rise to a number of issues including difficulties in comparing performances, lack of key information. This was highlighted by the Committee on Public Accounts (COPA) and the Department of Public Finance (PFD) as directed by the COPA developed a Common Template for the submission of the APR for Ministries, Departments and other Institutions which come under the purview of the COPA. The common template for the APR was introduced by PFD in January 2020 and will be used in submitting the APR for 2019.
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Public Finance Circulars Issued in 2019
Circular Description Public Finance Circular No. 01/2019 Dated 05.02.2019-Guidelines The Circular has been issued by considering the increasing Applicable to Ministries and Government Agencies to Adopt trend of contracts, which have been awarded for costs over and a Uniform Mechanism to review the Total Cost Estimates above the Engineer’s Estimates and the instances of upward (Prior Review) and Contract Variations (Post Review) of the revision of cost occurred during the implementation stage in Development Projects. most of the infrastructure development projects. Reasons often observed were like discretionary scope changes deviating from original scope, errors and omissions in Bill of Quantities and inaccurate project design, drawings and plan. This issue has a significant impact on the outcome of the projects while it leads to creating additional fiscal constrain on the Annual Budget.
In order to ensure respective organizations to produce a more realistic Total Cost Estimate (TCE) and to manage the contract variations in a prudent manner whilst complying with the regulatory requirements, special committee “Cost Estimate Review Committee” (CERC) has been appointed by this circular in order to adopt a uniform mechanism to review the Total Cost Estimates (Prior Review) and Contract Variations (Post Review) of the Development Projects. Public Finance Circular No. 02/2019 Dated 26.03.2019- In many sectors PPPs can be considered as a better alternative Amendment to Part II of Government Tender Procedure on for the private sector investments. In order to ensure such Private Sector Infrastructure Projects related to Public Private PPP projects are carried out through open and transparent Partnership (PPP) basis. procedure, the General Treasury, in consultation with the National Procurement Commission (NPC), is in the process of preparing new PPP guidelines based on the international best practices.
Until the new PPP guidelines are finalized and published existing guidelines on Tender Procedure Part II of 1998 on Private Sector Infrastructure Projects are the applicable set of guidelines for such PPP projects. As such, it is mandatory to follow the Government Tender Procedure Part II of 1998 by all GOSL Institutions with regard to implementation of Private Sector Infrastructure Projects. Public Finance Circular No. 04/ 2016 (Ii) Dated 08.05.2019 Despite the amended made in the Public Finance Circular -Procurement of works up to Rs. 50 Million from regional No.04/2016 (i) dated 30.09.2016 giving preferential treatments contractors under domestic funds to regional contractors, it is often observed that there are
Chapter 08 Chapter instances where no contractors are found for the procurement of works up to 50 million among regional contractors. In order to overcome those issues amendments have been made in the aforementioned circular. Public Finance Circular No. 03/2019 Dated 22.05.2019 – Revising Since most of the requests referred by the Ministries and the FR 118(2)(b) under the Financial Regulations 1992 Departments come under the subject of refund of revenue credited to the Consolidated Fund as per the FR 118(1) (a) are of minor values, the authority to refund the revenue vested upon the General Treasury under the FR 118(2) (b) was delegated to the Chief Accounting Officers subject to the limits specified in the said circular.
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Circular Description Public Finance Circular No. 01/2018 (i) Dated 13.06.2019 As per the Proposal 205 of the Budget Speech of the year 2019, -Revision of fees charged by the Government institutions for it was proposed to revise the fees charged for the services the service delivery delivered by the government institutions periodically to reflect the present economic indicators. Thus, an increase of such fees which have not been revised during last 3 years, at least by 15% has been proposed and the approval of Parliament had been obtained. Consequently, the Department of Public Finance has issued the Public Finance Circular No. 01/2018 (i) dated 13.06.2019 to instruct the Ministries, Provincial Councils, Departments and District Secretariats to submit the proposals to revise the fees and charges for their services to meet the current need of the economy. Public Finance Circular No. 04/2019 Dated 21.06.2019 This circular has been issued in particular with a view to -Reimbursement of Annual Subscription payable to Professional encourage public officials to develop their skills and capacities Institutions with continuous training and career development to equip themselves with up-to-date professional skills to meet future challenges of the public sector, public officials those who required professional qualification for their career development as per the respective scheme of recruitments, are provided an opportunity for the officials to reimburse their annual membership subscription only for one professional organization which is legally established in Sri Lanka or any other country accepted as a professional organization of the relevant profession. Public Finance Circular No. 05/2019 Dated 27.06.2019 Government does not expect the loans granted under the Instructions on recovery of Loan Balances of Public Officers Public Officers Advance “B” Account to result in losses, and Advance “B” Account full recovery shall be made in terms of the conditions imposed at the time of authorizing the original payment. It is observed that due to the weaknesses of the financial control systems of government institutions, requests are frequently made to write off these concessionary loans without taking adequate measures to recover the loan balances. Therefore, all the Secretaries to the Ministries, Chief Secretaries to the Provincial Councils, Heads of the Departments, District Secretaries and Heads of Local government institutions have been instructed to take every possible measures to recover the balances of loans granted under the Public Officers Advance “B” Account in accordance with the provisions indicated in Chapter XXIV of the Establishment Code, Public Administration Circulars and Chapter 08 Chapter the National Budget Circular No 118 dated 11.10.2014, prior to requesting the approval to write off them. Public Finance Circular No. 06/2019 Dated 15.08. 2019 & Public The circular instructions issued in the Public Finance Circular No. Finance Circular No. 06/2019 (I) Dated 12.09.2019- Provision of 04/2015 requiring government institutions to obtain insurance General Insurance Cover for Government Institutions services only from the State-Owned Insurance Companies were amended facilitating a more competitive and level playing field for insurance market in the country. Accordingly, General Insurance Covers can be obtained by government institutions on competitive basis from Insurance Service Providers registered under the Insurance Regulatory Commission of Sri Lanka (IRCSL) through their Agents/ Brokers.
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Circular Description Public Finance Circular No. 07/2019 Dated 28.11.2019- Furnishing The General Treasury has identified the importance of securities by Public Officers introducing a common guideline on the provision of securities by government officers as the public officers who shall provide securities do not fulfill the requirements in compliance with the provisions of Financial Regulations (FR) 880 has become a major issue. Therefore, according to this circular a Secretary to a Ministry in the capacity of a Chief Accounting Officer may decide the value of the security and the method of furnishing the security in compliance with the section 4 of the Chapter 612 of the Public Officer’s (Security) Ordinance. Public Finance Circular No. 08/2019 Dated 17.12.2019 The Department of Public Finance, Ministry of Finance has -Implementation of the Electronic Government Procurement (e- initiated several actions to develop an Electronic Government GP) System in Sri Lanka Procurement (e-GP) System. Accordingly, the e-GP Secretariat, which is institutionalized within the Department of Public Finance has determined to implement preliminary measures such as Registration of Procuring Entity (PE), Registration of Liaison Officers (LOs), and Registration of Vendors, Publication of the Procurement Notices and the use of e-GP Portal for Shopping Procedures through the website www.promise.lk. Chapter 08 Chapter
186 Human Resources Management 09
Chapter 09 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
9.1. Overview
Given its presence in almost every sector of the The decision of the government in November economy, the public sector has in its employ the 2019 to not recruit any new employees, but highly skilled to the less skilled. The demands reorganize the existing employees in the public placed on the public sector have evolved sector facilitated in infusing a more rational rapidly specially with changes in technology approach to recruitments. The public sector and social media, in particular, giving rise has become an attractive employer primarily, to unprecedented levels of scrutiny on the given the existence of a post-retirement public sector. However, resource constraints, pension scheme. A proper recruitment policy oftentimes archaic rules and regulations, and coupled with capacity building initiatives will cultural norms have prevented the level of be crucial in creating a more effective public change that has been demanded. sector.
In this background, in response to the challenges 9.2. Cadre Management – 2019 placed due to the COVID-19 pandemic with lockdowns and social distancing, the At the end of 2019, the total deployed government’s decision to introduce a work employees in the public sector amounted from the home mechanism, to ensure the to 1,377,764 including the 17,000 Graduates smooth flow of work in public sector ensured employed through the Graduate Scheme as that the country was able to deliver on all its trainees in 2019, is an increase compared to essential services. 1,370,633 in 2018. During the period 2010 to 2019, the approved cadre increased by about The COVID-19 pandemic questioned the 26 percent reaching 1.6 million public sector efficacy and the requirement for the existing employees by end of 2019. The total utilization organizational structures including the current of cadre positions approved for the year 2019 “rule-based” work environments, the minimal remains at 86 percent, recording the lowest use of technology, the lack of robust online utilization rate during the last decade. This security systems, to name a few. At the same non-utilization of cadre in 2019 has mainly time, COVID-19 has nevertheless created an influenced by the restriction of recruitments awareness that the “new normal” requires due to the Presidential Election 2019 by the significant adjustments driven by both health Election Commissioner and decision of the concerns and budgetary constraints. The government in November 2019, to temporarily organizational structures will have to be halt any new recruitments pending a study of adjusted recognizing the need to reorient the cadre requirements. The lapses in the public employees in new skills either through reskilling sector have only reiterated the requirement for or upskilling processes. a proper mechanism to make recruitments to the public sector based on a human resource plan and a succession plan.
Table 9.1 | Public Sector Cadre Composition 2010–2019 Administrative 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 level App 698,335 705,331 710,909 796,266 844,948 858,680 874,046 880,971 892,509 906,264 National Act 643,748 443,399 661,837 683,719 703,600 722,950 754,548 756,339 742,960 740,574 Provincial App 367,207 367,730 385,562 391,647 392,698 394,812 412,560 428,433 440,560 444,348 Councils and Chapter 09 Chapter Act 332,107 363,248 378,933 375,752 377,445 374,330 372,033 385,311 392,528 400,897 Local Authorities Total Public App 1,065,542 1,073,061 1,096,471 1,187,913 1,227,646 1,253,492 1,286,606 1,309,404 1,333,069 1,350,612 Service Act 957,855 1,006,647 1,040,770 1,059,471 1,081,045 1,097,280 1,126,581 1,141,650 1,135,488 1,141,471 State Owned App 227,792 228,326 245,100 245,687 245,339 244,800 234,220 242,194 248,625 251,419 Enterprises Act 236,121 236,543 239,079 239,058 221,213 219,583 226,695 233,849 235,145 236,293 Total Public App 1,293,334 1,301,387 1,341,571 1,433,600 1,682,985 1,498,292 1,520,826 1,551,598 1,581,694 1,602,031 Sector Act 1,211,976 1,243,190 1,279,849 1,298,529 1,302,258 1,316,863 1,353,276 1,375,499 1,370,633 1,377,764
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Table 9.1 | Public Sector Cadre Composition 2010–2019 Administrative 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 level Rate of Utilization 94 96 95 91 88 88 88 88 87 86 of the Approved Cadre (%) Cumulative 473,762 493,549 510,343 521,699 246,379 564,472 579,414 585,670 617,386 639,984 Retired Number Source: Department of Management Service, Department of Pensions App – Approved Cadre Act –Actual Number of Employees
9.3. Distribution of Public Service Cadre (excluding tri-forces) by Service Level - 2019
Based on the nature of services provided, the The senior-level employees although are public service is categorized into four levels recruited through competitive examinations are namely primary, secondary, tertiary and senior not privy to a performance-based promotional levels. scheme that is generally a requirement for technocrats. The lack of opportunities for mid- Figure 9.1 | Approved Cadre by Service Level career professionals to be introduced into the system has also negatively affected the growth 3% of the public service specially in responding to 5% new opportunities and even threats. Primary level employees, on the other hand, 28% needs to be reskilled specially to be able to Senior handle technology more effectively. TerƟary Secondary 9.4. Cadre of Government Development Projects Primary
64% With the issuance of the Management Services Circular No. 01/2019 and dated 05.03.2019, a number of policies on human resource and remuneration matters of government The dominance of the secondary service projects has been updated, ensuring more level employee levels at 64 percent is mainly efficient deployment of human resources and due to the inclusion of teachers and health providing proper guidance to utilizing the sector workers to this segment. The number of limited resources available to bring forth the teachers at 237,963 which is almost 17 students expected output/outcome in keeping with per 1 teacher is in line with developed countries. time boundaries. However, it is noted that there is a disparity of the distribution of teachers between the rural In 2019, approximately 1,254 development and the urban schools. The implementation projects and programmes were being of free health policy has required a strong implemented island wide, out of which 386 workforce of employees amounting to almost were recorded as large and mega-scale investments (the total cost of each investment
150,000 excluding doctors. This comprises 09 Chapter of those at the grass-root levels including equal or above Rs.1,000 million) and over 7,000 midwives, public health inspectors who are reported to be employed in government provide advice on health, nutrition and control projects. The bulk of the projects are being of communicable diseases, while secondary implemented at the Ministries of Roads health employees such as nurses provide free and Highways; Urban Development, Water health services based on national and base Supply and Housing Facilities and Mahaweli, hospitals. Agriculture, Irrigation and Rural Development.
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9.5. Public Sector Cadre at a glance and Government Owned Companies. - 2019 A significant decrease in recruitement was The cadre has been recording the mark 1.5 reported during 2019, with total recruitments Million for the last 3 years, albeit changing to being reported at 36,509 in the entire public 1.6 Million in the year 2019. sector, compared to 45,532 in 2018, mainly due to government decisions on halting Table 9.2 | Public sector cadre – 2019 recruitments pending a proper review. The Approved Existing recorded number of recruitments was high, in Cadre Cardre primary service level, which is categorized into Ministries & Departments 598,906 478,653 3 segments (i) unskilled labour; (ii) semiskilled Tri-Forces 292,401 250,915 labour; and (iii) skilled labour. The primary level Special Spending Units 14,957 11,006 is vulnerable to adhoc recruitments mostly Provincial Councils 444,348 400,897 due to these categories being exempted from SOE's 251,419 236,293 the norm of stringent recruitment measures Total 1,602,031 1,377,764 including competitive examinations. Thus given Source: Department of Management Services that the qualifications required for most of The national cadre is comprised of the cadres these positions are at a minimum, recruitments of Ministries, Departments, Special Spending take place more frequently. Units with the central government accounting for 54 percent with the provincial councils A drastic reduction of the number of accounting for 29 percent. The remaining 17 secondments was also recorded in the fourth percent are employed at the State Owned quarter of 2019, owing to the policy decisions Enterprises, which include Statutory Boards made in time to time by the government.
Table 9.3 | Changes in Public Sector Cadre – 2019
No. of Changes Reason for the change of 1st Quarter of 2nd Quarter of 3rd Quarter of 4th Quarter of during number of employees 2019 2019 2019 2019 01.01.2019 – 31.12.2019
Recruitments 8,964 6,640 10,260 10,645 36,509 Promotions 12,328 9,672 12,857 8,918 43,775 Secondments 6,496 6,614 6,866 3,550 23,526 Retirements 4,078 4,587 4,637 5,109 18,411 Resignations 489 1,054 1,059 1,007 3,609 Vacation of Posts 703 870 599 1,012 3,184 Deaths 1,240 299 233 433 2,205 Dismissals 904 726 712 443 2,785 Source: Department of Management Services Chapter 09 Chapter
190 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Box 9.1. | Application of IT on HRM: Policy Response to COVID-19
Use of Technology on Human Resource Management responding to the COVID-19 Pandemic
The public sector is at the forefront of fighting the COVID-19 pandemic, in multiple fronts including health, defense and through the delivery of economic services. Since the government was keen to ensure the smooth functioning of its services, during the time of the government imposed measures of social distancing and lockdowns, the public sector has been required to engage in “work from home” or remote working. This has given rise to new needs of digitalizing public sector work processes while also increasing the demand on the existing digital services. The COVID-19 has fast tracked the implementation of some digital solutions such as E-procurement while highlighting the requirement to introduce other solutions that will capture real-time data supporting better decision making. This will require reallocation of resources or new investments in both hard and software while the focus will also need to be made on to mechanisms of protecting the systems and data adequately. The lack of standardized software and even hardware will also create challenges.
At the same time, while connectivity amongst the workforce will facilitate the work from home processes, the compatibility of the existing regulatory framework specially those that deal with the behavior of the work force needs to be examined. Such regulations that is not, “work from home” compatible will have to be adapted to suit the new environment including the performance measurement methods that will have to be reexamined. In the new working environment, different capacities will be in demand and the demand for capacity development of public sector employees in technological skills will be on the rise.
While the government is keen to digitalise to ensure the efficient delivery of its services, the success of such action will also depend on how receptive the public is to such methods of delivery i.e digital solutions, which will be driven to a large extent by the levels of IT literacy in the population and also the access to such physical resources including a smartphone or a computer.
At the same time, while the less difficult part would be the provision of physical resources to ensure that the public sector work is executed seamlessly, the more difficult part would be to address the challenges that will arise in the form of maintaining the emotional wellbeing of the workforce. Chapter 09 Chapter
191 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Chapter 09 Chapter
192 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
PART IV Financial Statements Financial Statements
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194 Statements Financial
Financial Statements MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Note to Readers
Financial Statements of the Government for the and it is expected to record all the non-financial year ended 31st December 2019 comprising the assets by year 2020. Statement of Financial Performance, Statement of Financial Position, Statement of Cash Flow, The Computerized Integrated Government Statement of Changes in Net Assets / Equity, Accounting System (CIGAS) has been further applied Accounting Policies and Notes thereto developed enabling non-financial assets are are forwarded herewith. recorded in the Financial Statements, starting from the year 2015. The Statement of Financial Position shows the assets and liabilities of the Government whereas Similarly, according to the Handbook on Statement of Financial Performance shows Government Finance Statistics (GFS) 2014, government’s affairs in relation to revenue actions have been initiated to compile the collection and use of resources as provided by financial data in the GFS data format with a Appropriation Act No. 06 of 05th April 2019 for view to improve comparison of government 2019, of twenty two (22) Special Spending Units, statistics with those of other countries. thirty seven (37) Government Ministries, ninety six (96) Government Departments and twenty five (25) District Secretariats and the way that fiscal deficit could be financed. Further, in the Financial Statements, it is reflected the financial support provided to Forty Nine (49) Commercial Public Corporations, ninety (90) Government Owned Companies / Plantation Companies / US Dollar Denominated Companies, three (03) Development Banks in the form of capital contribution or shareholding and also information relating to allocation of financial resources to nine (09) Provincial Councils by the Central Government.
As per the provisions provided under the Fiscal Management (Responsibility) Act No. 03 of 2003, Financial Statements should be prepared to reflect financial results and Financial Position of the Democratic Socialist Republic of Sri Lanka. Since these financial statements should be prepared in accordance with the Article 149 and 150 of the Constitution of Democratic Socialist Republic of Sri Lanka in addition, generally accepted accounting principles could not be followed in all the time. However, in such deviations, reasons for deviation and the relevant alternate accounting policies are disclosed in the financial statements.
Modified cash basis accounting method is used to prepare the Financial Statements and actions are taken to include the assets and liabilities generated through the cash basis transactions in the financial statements whenever possible. Financial Statements Accordingly, a part of the non-financial assets have been reported in the financial statements
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Statement of Responsibility
These Financial Statements have been prepared in keeping with the provisions of the Article 149 and 150 of the Constitution of Democratic Socialist Republic of Sri Lanka, Fiscal Management (Responsibility) Act No 3 of 2003 and National Audit Act No. 19 of 2018. The Financial Statements are in compliant with generally accepted Accounting Principles and relevant Treasury Circulars, whereas most appropriate accounting policies are used as disclosed in the Notes to the Financial Statements.
The General Treasury is responsible for establishing and maintaining a system of internal control to provide reasonable assurance that the transactions are effected within statutory authority and use of allocations provided by Appropriation Act or any other Law are properly recorded.
The accompanying “Statement of Accounting Policies” and “Notes to the Financial Statements” form an integral part of these Financial Statements. The designated authority in preparation and presentation of these Financial Statements is Department of State Accounts.
K.D.R. Olga S.R. Attygalle Director General Secretary, Ministry of Finance, Economic and Department of State Accounts Policy Development and Secretary to the Treasury
General Treasury Colombo – 01 24 March, 2020 Financial Statements
197 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Statement of Financial Performance
for the Period ended 31st December 2019
Actual Actual 2019 2018 Rs. Rs. REVENUE
Tax Revenue 1,734,925,039,071 1,712,317,537,935 Income Tax 1 427,699,517,596 310,449,314,854 Taxes on Domestic Goods & Services 2 973,843,968,827 1,060,158,121,748 Taxes on International Trade 3 333,381,552,648 341,710,101,333 Non Tax Revenue & Others 4 172,271,329,558 222,777,949,292
TOTAL REVENUE (a) 1,907,196,368,629 1,935,095,487,228
LESS : EXPENDITURE Salaries, Wages and Other Employment Benefits 5 528,791,109,005 484,758,793,181 Other Goods & Services 6 199,834,301,479 172,293,827,456 Subsidies, Grants and Transfers 7 703,508,610,370 599,461,407,587 Interest Payments 8 888,786,940,392 852,190,046,487 Other Recurrent Expenditure 9 701,758,477 260,316,311
Total Recurrent Expenditure (b) 2,321,622,719,723 2,108,964,391,022
REVENUE DEFICIT (a) – (b) 414,426,351,094 173,868,903,795
Public Investments 10 637,218,885,361 625,310,389,518
BUDGET DEFICIT 1,051,645,236,455 799,179,293,313
FINANCING THE BUDGET DEFICIT
Foreign Borrowings 11 935,100,943,059 771,607,799,449 Foreign Debt Repayments -572,337,719,713 -307,015,430,305 NET FOREIGN BORROWINGS 362,763,223,346 464,592,369,144 Foreign Grants 12 7,909,404,110 12,485,519,835 TOTAL FOREIGN FINANCING 370,672,627,456 477,077,888,979 Domestic Borrowings 13 1,067,681,955,163 1,099,262,448,221 Domestic Debt Repayments 14 -544,648,165,984 -929,345,627,582 NET DOMESTIC BORROWINGS 523,033,789,178 169,916,820,639 Recoveries from On-lending 15 18,271,349,279 25,583,642,348 Sale of Capital Assets 2,874,087,532 340,784,642 Divestiture Proceeds 3,111,000,000 107,882,895,275 Net Change in Deposit Accounts and Liabilities 88,024,821,773 20,056,901,975 (Increase)/ Decrease in Cash & Cash Equivalents 45,657,561,237 -1,679,640,545
TOTAL FINANCING 1,051,645,236,455 799,179,293,313 Financial Statements
198 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Statement of Financial Position
as at 31st December 2019
Actual Actual 2019 2018 Rs. Rs. Non Financial Assets 16 1,355,270,211,298 1,087,397,624,041 Financial Assets Advances to Public Officers 17 32,142,241,034 30,970,716,088 Advances to Government Departments 18 15,802,235,220 15,303,986,669 Membership Fees 19 2,900,368,322 3,517,179,875 On Lending 20 177,149,514,240 184,160,788,945 Capital Contributions to State Owned Enterprises 21 611,960,626,814 587,320,632,819 Rent & Work Advance 22 2,571,153,887 1,589,016,461 Stamps Stock Account 1,453,500,787 1,357,244,688 Total Financial Assets 843,979,640,304 824,219,565,545 Total Assets 2,199,249,851,602 1,911,617,189,586
Statutory & Other Funds Consolidated Fund 23 -437,631,022,813 -303,948,639,803 Contingency Fund 500,000,000 450,000,000 Foreign Loan Revolving Funds 24 61,044,365,828 33,678,534,101 Miscellaneous Funds 25 1,041,441,212 859,563,802 Net Assets Adjustment Account 26 -10,040,906,102,534 -9,415,813,121,099 Total Funds -10,415,951,318,307 -9,684,773,662,999 Liabilities Bank Balance 27 194,517,381,317 148,859,820,080 Advance from the Central Bank 28 236,608,971,400 198,632,571,400 Government Borrowings 29 12,187,857,608,773 11,276,281,183,366 Deposits 30 81,571,763,674 76,867,205,607 Accounts Operating with Government Departments 31 -85,375,105,976 -104,886,490,795 Sundry Accounts 32 20,550,722 636,562,927 Total Liabilities 12,615,201,169,910 11,596,390,852,585 Total Funds and Liabilities 2,199,249,851,602 1,911,617,189,586 Contingent Liabilities & Commitments 33 858,013,017,019 828,944,872,772 Financial Statements
199 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Statement of Cash Flows
for the Year ended 31st December 2019
Budget Estimate Actual Actual 2019 2019 2018 Rs. Rs. Rs. Cash Flow from Operating Activities 2,077,000,000,000 Tax Receipts 1,734,925,039,071 1,712,317,537,935 43,490,000,000 Fees, Fines, Penalties and Licenses 35,741,507,603 39,521,778,601 63,900,000,000 Profits 22,833,341,079 37,230,000,000 156,110,000,000 Other Receipts 94,853,135,877 133,287,766,260 2,340,500,000,000 Total Cash flow from Operating Activities (a) 1,888,353,023,630 1,922,357,082,797
Less – Cash disbursed for: 757,841,894,533 Personal Emoluments & Operating Payments 728,625,410,484 657,052,620,637 734,633,021,182 Subsidies & Transfer Payments 703,508,610,370 599,461,407,587 924,263,818,521 Finance Costs 889,488,698,869 852,450,362,798 2,416,738,734,237 Total Cash disbursed for Operating Activities (b) 2,321,622,719,723 2,108,964,391,022
-76,238,734,237 NET CASH FLOWS FROM OPERATING ACTIVITIES (c)=(a)-( b) -433,269,696,094 -186,607,308,226
Cash Flows from Investing Activities 10,000,000,000 Interest 13,819,218,389 8,140,414,746 6,100,000,000 Dividends 5,024,126,610 4,597,989,685 400,000,000 Divestiture Proceeds & Sale of Physical Assets 5,985,087,532 108,223,679,917 28,000,000,000 Recoveries from On Lending 18,271,349,279 25,583,642,348 44,500,000,000 Total Cash flow from Investing Activities (d) 43,099,781,811 146,545,726,696
Less – Cash disbursed for: 1,011,454,572,013 Purchase or Construction of Physical Assets & Acquisition of Other 637,218,885,361 625,310,389,518 Investment
1,011,454,572,013 Total Cash disbursed for Investing Activities (e) 637,218,885,361 625,310,389,518
-966,954,572,013 NET CASH FLOW FROM INVESTING ACTIVITIES (f)=(d) – (e) -594,119,103,551 -478,764,662,822
-1,043,193,306,250 NET CASH FLOW FROM OPERATING & INVESTMENT ACTIVITIES -1,027,388,799,644 -665,371,971,048 (g)=(c) + (f)
Cash Flow from Financing Activities 2,076,695,622,696 Local Borrowings 1,067,681,955,163 1,099,262,448,221 328,017,640,000 Foreign Borrowings 935,100,943,059 771,607,799,449 13,000,000,000 Grants Received 7,909,404,110 12,485,519,835 2,417,713,262,696 Total Cash flow from Financing Activities (h) 2,010,692,302,331 1,883,355,767,505
Less – Cash disbursed for: 635,275,235,000 Repayment of Local Borrowings 544,648,165,984 929,345,627,582 664,724,765,000 Repayment of Foreign Borrowings 572,337,719,713 307,015,430,305 – Net Change in Deposit Accounts and Other Liabilities -88,024,821,773 -20,056,901,975 1,300,000,000,000 Total Cash disbursed for Financing Activities (i) 1,028,961,063,925 1,216,304,155,912
1,117,713,262,696 NET CASH FLOW FROM FINANCING ACTIVITIES (j)=(h) – (i) 981,731,238,407 667,051,611,593
74,519,956,446 Net movement in Cash (k)=(g) + (j) -45,657,561,237 1,679,640,545 Opening Cash Balance as at 01st January -148,859,820,080 -150,539,460,624
Financial Closing Cash Balance as at 31st December -194,517,381,317 -148,859,820,080 Statements
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Statement of Changes in Net Assets / Equity
for the Year ended 31st December 2019
Rs.
Attributable to Government Entities Total Net Assets Description Foreign Loan Consolidated Contingency Miscellaneous / Equity Revolving Fund Fund Funds Fund
Balance at 31st December 2017 -285,571,378,374 500,000,000 31,264,171,850 991,807,821 -252,815,398,703 -285,571,378,374 500,000,000 31,264,171,850 991,807,821 -252,815,398,703 Changes in Net Assets/Equity for 2018
Net Change in Consolidated Fund -18,377,261,430 -18,377,261,430
Net Change in Contingency Fund -50,000,000 -50,000,000
Net Change in Foreign Loan 2,414,362,251 2,414,362,251 Revolving Fund
Net Change in Miscellaneous Funds -132,244,019 -132,244,019
Balance at 31st December 2018 -303,948,639,803 450,000,000 33,678,534,101 859,563,802 -268,960,541,900
Changes in Net Assets/Equity for 2019
Net Change in Consolidated Fund -133,682,383,010 -133,682,383,010
Net Change in Contingency Fund 50,000,000 50,000,000
Net Change in Foreign Loan 27,365,831,727 27,365,831,727 Revolving Fund
Net Change in Miscellaneous Funds 181,877,410 181,877,410
Balance at 31st December 2019 -437,631,022,813 500,000,000 61,044,365,828 1,041,441,212 -375,045,215,774 Financial Statements
201 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Current year Actual vs Budget
Rs.000
Original Revised Actual Variance % Budget Budget
Revenue Tax Revenue 2,077,000,000 2,077,000,000 1,734,925,039 342,074,961 16 Income Tax 385,000,000 385,000,000 427,699,518 -42,699,518 -11 Taxes on Domestic Goods & Services 1,291,360,000 1,291,360,000 973,843,969 317,516,031 25 Taxes on International Trade 400,640,000 400,640,000 333,381,553 67,258,447 17 Non Tax Revenue & Others 283,600,000 283,600,000 172,271,330 111,328,670 39 Foreign Grants 13,000,000 13,000,000 7,909,404 5,090,596 39 Recoveries from On-lending 28,000,000 28,000,000 18,271,349 9,728,651 35 Sale of Capital Assets 400,000 400,000 2,874,088 -2,474,088 -619 Divestiture Proceeds – – 3,111,000 -3,111,000
Total Revenue 2,402,000,000 2,402,000,000 1,939,362,210 462,637,790 19
Expenditure
Salaries, Wages and Other Employment Benefits 540,830,772 535,759,678 528,791,109 6,968,569 1
Other Goods & Services 214,097,411 222,082,217 199,834,301 22,247,915 10 Subsidies, Grants and Transfers 716,482,288 734,633,021 703,508,610 31,124,411 4 Interest Payments 900,060,468 922,990,468 888,786,940 34,203,528 4 Other Recurrent Expenditure 40,833,219 1,273,351 701,758 571,592 45 – Total Recurrent Expenditure 2,412,304,158 2,416,738,734 2,321,622,720 95,116,015 4 Public Investments 927,695,842 1,011,454,572 637,218,885 374,235,687 37 Foreign Debt Repayments 664,724,765 664,724,765 572,337,720 92,387,045 14 Domestic Debt Repayments 635,275,235 635,275,235 544,648,166 90,627,069 14
Total Expenditure 4,640,000,000 4,728,193,306 4,075,827,491 652,365,815 14 Financial Statements
202 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Significant Accounting Policies Revenue
Reporting Entity The Central Government provides non-income generating goods, services and benefits to the These Financial Statements of the Government general public. The revenue is raised by way of encompass the Reporting Entity of the Central taxes, levies, fees and charges imposed under Government comprising of Government various statutes approved by Parliament to Ministries, Departments, Special Spending Units finance the expenditure incurred on provision of and District Secretariats. However, Commercial such goods, services and benefits. All revenue, Public Corporations, State Owned Enterprises so collected through relevant Ministries and and Government Owned Companies or other Departments are identified and accounted at Companies and Statutory Boards, are not the time of collection. Investment income is covered in these Financial Statements. Cash accounted for the period during which such outflows from Central Government to those income is actually collected. entities taken place during the reporting period and the Government’s total interest Premiums and Discounts in the Commercial Public Corporations, State Owned Enterprises and Government Premiums and discounts on issue of debt owned Companies or other Companies held instruments are adjusted against the cost of in the form of equity and loans are taken into borrowings. consideration. The Revenue and Expenditure of Provincial Councils are not considered as a part Gains of these financial statements, since there is no significant control by the Central Government Gains arising from the sale of assets are over the financial and operating activities of accounted during the period in which the Provincial Councils. transaction has taken place. Foreign exchange gains realized on monetary assets and liabilities Basis of Preparation are duly accounted in the Statement of Financial Position for the reporting period. These Financial Statements have been prepared on the historical cost convention in conformity Expenses with Generally Accepted Accounting Principles. Historical cost basis has been adopted for All expenses are accounted in the period in measurement while adopting modified cash which payments have been made. based accounting for reporting. Foreign Currency Transactions Reporting Period Foreign Currency Transactions are converted The reporting period of these Financial into Sri Lanka Rupees using the exchange Statements is from 1st of January 2019 to 31st rate prevailed on the date of the transaction. December 2019. Exchange differences arising from the settlement of these transactions are duly Basis of Consolidation accounted and presented in the Statement of Financial Performance. Expenditure incurred and revenue collected under revenue codes specified in the budget Investments classification by respective Ministries and Departments in the form of financial assets, Value of the Government’s equity investments liabilities, revenue and expenditure are in State Owned Enterprises is recorded at reported using same classification codes for cost and shown separately in the financial preparation of consolidated accounts. statements. However, investments in Statutory Boards are not separately identified and Financial disclosed since such entities are relying on the Statements Central Government for their recurrent and
203 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
capital expenditure requirements similar to (GFS) varies from the information presented in those of the other Government Departments. these Financial Statements due to the different classification methods adopted for economic Borrowings analysis.
In the Statement of Financial Position, all local Non-Financial Assets borrowings are recorded at cost. Since foreign borrowings are subject to change in exchange All non-financial assets i.e. Property, Plant and rates, foreign monetary liabilities are converted Equipment is recognized at cost or grant value. to Sri Lanka Rupees using exchange rates The cost includes expenditure that is directly prevailed at the end of the reporting period. attributable to the acquisition of the items. Statement of individual loan details are shown in the Note – 29(I) and 29(II). In a situation, where an assets is acquired in a non-exchange transaction on free of charge Employee Entitlements or nominal consideration, the asset is initially measured at its grant value or cost. The Employee entitlements to salaries and wages, corresponding credit is recognized as income pre-retirement leave and other similar benefits in the statements of Financial Performance have been recorded when they actually accrue unless there are conditions on the asset’s use. to or utilized by the employees. Retired Government employee entitlements for The Government derecognizes items of pension payments are also recorded on the Property, Plant and Equipment upon disposal. same basis. The sales proceeds received upon disposal of Contingent Liabilities & Commitments non-financial assets is recognized as revenue.
Contingent Liabilities and Commitments Leases are recorded at the point of contingency or commitment is evident. The Government as a lessee, finance lease are leases that transfer substantially all the risk Comparatives and benefits incidental to ownership of the To ensure consistency with the current period leased asset to the Government. Assets held and classification method adopted in making under a finance lease are capitalized at the a fair presentation of financial information, commencement of the lease at the value of the comparative figures have been restated where leased asset. The Government also recognizes appropriate. the associated lease liability at the inception of the lease. Bank Balance Operating leases are leases that do not transfer The Bank Overdraft comprises of all favorable substantially all the risks and benefits incidental and unfavorable cash book balances for the to ownership of the leased item to the bank accounts operated in the name of the Government. Operating lease made during the Deputy Secretary to the Treasury, sum of year are recognized as an operating expense in unsettled imprest balances of Ministries and the Financial Performance Statement on cash Departments which are treated as cash in basis over the lease term. transit and Rupee equivalent amount of all foreign currency bank accounts balances as at Intangible Assets end of the reporting period. Intangible assets which are acquired separately Compilation of Government Finance are initially recognized at cost. The cost of Statistics intangible assets acquired in a non-exchange transaction is considered at their cost or grant Financial Statements The Budget Outturn presented in Economic value at the date of exchange and subsequently Classification of Government Finance Statistics such intangible assets are carried at cost.
204 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Time of Recording and Measurement for Presenting the Financial Statements of Republic
Statement of Financial Performance
Accounting Caption Presented Time of Recording Measurement
Revenue (for current and past years) Yes Cash Accounting Historical Cost Method
Expenditure (for current and past year) Yes Cash Accounting Historical Cost Method
Surplus or Deficit (for current and past year) Yes Cash Accounting Historical Cost Method
Depreciation N/A N/A N/A
Statement of Financial Position Accounting Caption Presented Time of Recording Measurement
Property, Plant and Equipment Yes Modify Cash Historical Cost Method
Investment Property N/A N/A N/A
Intangible Assets Yes Modify Cash Historical Cost Method
Financial Assets Yes Modify Cash Historical Cost Method
Investment Recognized Using the Equity Yes Modify Cash Historical Cost Method Method
Recoverable N/A N/A N/A
Cash & Cash Equivalents Yes Cash Accounting Historical Cost Method
Financial Liabilities Yes Modify Cash Historical Cost Method
Provisions N/A N/A N/A
Contingent Liabilities N/A N/A N/A
Net Asset/Equity Yes Modify Cash Historical Cost Method Financial Statements
205 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements
Budget Estimate Revenue Actual Revenue 2019 CodeRevenue Title 2019 2018 Rs. Rs. Rs. NOTE – 1 INCOME TAX 149,000,000,000 1004.01.01 Income Tax 225,827,921,710 127,000,562,783 24,000,000,000 1004.01.02 Dividend Tax 23,340,067,650 21,470,317,140 10,000,000,000 1004.01.03 Remittance Tax 11,318,485,684 10,662,306,887 183,000,000,000 1004.01.00 Total Corporate Tax (a) 260,486,475,044 159,133,186,810
65,000,000,000 1004.02.01 PAYE 49,444,746,912 41,384,710,439 18,000,000,000 1004.02.99 Other 11,513,928,597 10,435,002,438 52,000,000,000 1004.03.00 Withholding Tax 50,350,530,763 46,413,757,511 41,500,000,000 1004.03.01 On Interest 30,435,047,429 35,991,293,842 10,500,000,000 1004.03.99 On Fees & Other 19,915,483,335 10,422,463,669 65,000,000,000 1004.04.00 Economic Service Charge 55,301,397,165 52,978,509,494 57,000,000,000 1004.04.01 Domestic 53,639,837,461 50,055,090,973 8,000,000,000 1004.04.02 Imports 1,661,559,705 2,923,418,521 2,000,000,000 1004.05.00 Capital Gain Tax 602,439,115 104,148,162 202,000,000,000 1004.02.00 Total Non-Corporate Tax (b) 167,213,042,552 151,316,128,044 385,000,000,000 Total Income Tax (a+b) 427,699,517,596 310,449,314,854
NOTE – 2 TAXES ON DOMESTIC GOODS & SERVICES 529,000,000,000 1002.01.00 Value Added Tax 443,877,131,612 461,650,624,889 60,000,000,000 1002.01.01 Financial Services 49,821,404,086 55,838,295,782 171,000,000,000 1002.01.02 Other Services 138,896,037,548 146,501,048,387 93,000,000,000 1002.01.03 Manufacturing 85,245,594,182 80,147,857,741 205,000,000,000 1002.01.04 Imports 169,914,095,797 179,163,422,979 – 1002.01.05 Wholesale and Retail Trade – – – 1002.02.00 Goods and Services Tax 17,036,964 2,000 – 1002.02.01 Services 11,357,976 1,333 – 1002.02.02 Manufacturing 5,678,988 667 – 1002.02.03 Imports – – – 1002.03.00 National Security Levy 9,045,921 40,986,382 – 1002.03.01 Services 3,509,118 40,986,382 – 1002.03.02 Manufacturing 5,536,803 – – 1002.03.03 Imports – – 135,000,000,000 1002.04.00 Excise (Ordinance) Duty 115,384,201,736 113,890,332,214 135,000,000,000 1002.04.01 Liquor 115,384,201,736 113,890,332,214 458,000,000,000 1002.05.00 Excise (Special Provisions) Duty 284,093,715,009 370,351,175,024 115,000,000,000 1002.05.01 Cigarettes 87,367,369,980 92,198,105,735 – 1002.05.02 Liquor 58,762,383 53,274,720 90,000,000,000 1002.05.03 Petroleum Products 61,740,303,646 66,318,296,382 240,000,000,000 1002.05.04 Motor Vehicles 130,377,881,902 204,080,799,380 – 1002.05.05 Lottery – – 13,000,000,000 1002.05.99 Other 4,549,397,098 7,700,698,806 Financial
Statements 45,000,000 1002.06.00 Tobacco Tax 32,801,536 45,367,003 – 1002.07.00 Stamp Duty – –
206 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Budget Estimate Revenue Actual Revenue 2019 CodeRevenue Title 2019 2018 Rs. Rs. Rs. – 1002.08.00 Debits Tax – – – 1002.09.00 Turnover Tax 29,626,965 88,934,025 – 1002.10.00 Social Responsibility Levy 171,568 – 25,000,000,000 1002.11.00 Telecommunication Levy 18,261,198,272 28,326,248,471 91,000,000,000 1002.12.00 Nation Building Tax 70,672,429,613 71,357,384,246 51,000,000,000 1002.12.01 Services 39,756,506,039 40,012,958,409 14,000,000,000 1002.12.02 Manufacturing 12,689,085,534 11,179,474,851 26,000,000,000 1002.12.03 Imports 18,226,838,039 20,164,950,986 1,200,000,000 1002.13.00 Tele dramas, Films and Commercials Levy 615,000,272 1,068,301,454 1,000,000,000 1002.14.00 Cellular Tower Levy 1,045,250,002 – 3,000,000,000 1002.15.00 SMS Advertising Levy 361,543,369 – 13,960,000,000 1003 License Taxes and Other 5,320,169,844 4,728,196,496 8,850,000,000 1003.01.00 Luxury Motor Vehicle Tax 1,859,524,152 1,036,072,698 – 1003.02.00 Transfer Tax – – 3,500,000,000 1003.03.00 Betting & Gaming Levy 2,435,982,807 2,469,578,624 1,610,000,000 1003.04.00 Share Transaction Levy 1,023,443,599 1,196,346,653 – 1003.05.00 Construction Industry Guarantee Fund Levy 1,219,286 26,198,521 – 1003.06.00 Environment Conservation Levy – – 34,116,000,000 1003.07.00 Other Licenses 34,112,811,602 8,574,446,086 Pharmaceuticals, Equipment, Perfumes and – 1003.07.01 – – Pharmacies Registration Fee Registration Fees Relevant to the Department of 1,450,000,000 1003.07.02 1,689,706,685 1,401,961,145 Registrar General 125,000,000 1003.07.03 Private Timber Transport 108,937,449 104,794,792 80,000,000 1003.07.04 Tax on Sale of Motor Vehicles 83,925,559 93,215,452 11,400,000 1003.07.05 License Fees Relevant to the Ministry of Defence 22,779,695 21,200,877 License Fees Relevant to the Dept. of Fisheries & 31,880,000 1003.07.06 58,348,336 32,497,474 Aquatic Resources – 1003.07.07 Levy on Rooms of Five Star Hotels – – – 1003.07.08 Company Registration Levy 129,280,000 – 2,000,000,000 1003.07.09 Carbon Tax 1,655,225,253 – 2,200,000,000 1003.07.10 Vehicle Entitlement Levy 1,498,601,586 2,191,685,363 28,000,000,000 1003.07.11 Debt Repayment Levy 28,673,572,980 4,501,166,919 – 1003.07.12 Capital Gain Tax – – 217,720,000 1003.07.99 Other 192,434,059 227,924,065 Fees Under the Certificate to be Granted Yearly to 20,000,000 1003.08.00 6,826,499 19,441,016 Notary Registrar of the High Court – 1003.09.00 Taxes on the Lands Leased out to Foreigners – – 16,000,000 1003.10.00 Migrating Tax 5,008,044 16,682,442 3,000,000 1003.11.00 Remittance Fee – – 1,291,360,000,000 Total Taxes on Domestic Goods & Services 973,843,968,827 1,060,158,121,748
NOTE – 3 TAXES ON INTERNATIONAL TRADE 140,000,000,000 1001.01.00 Import Duties 98,427,379,273 96,990,575,618 Financial
40,000,000 1001.02.00 Export Duties 170,442,852 39,687,611 Statements
207 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Budget Estimate Revenue Actual Revenue 2019 CodeRevenue Title 2019 2018 Rs. Rs. Rs. 1,600,000,000 1001.03.00 Import & Export Licenses Fees 1,542,976,673 1,554,482,324 115,000,000,000 1001.04.00 Ports & Airports Development Levy 112,174,180,264 113,949,869,596 54,000,000,000 1001.05.00 Cess Levy 50,702,707,825 53,368,977,765 52,000,000,000 1001.05.01 Import Cess Levy 48,403,019,454 50,777,263,380 2,000,000,000 1001.05.02 Export Cess Levy 2,299,688,371 2,591,714,385 – 1001.06.00 Motor Vehicle Concessionary Levy – – – 1001.07.00 Regional Infrastructure Development Levy – – 90,000,000,000 1001.08.00 Special Commodity Levy 70,363,865,761 75,806,508,419 – 1001.99.00 Other – – 400,640,000,000 Total Revenue from Taxes on International Trade 333,381,552,648 341,710,101,333
NOTE – 4 NON-TAX REVENUE AND OTHERS 8,600,000,000 2001.01.00 Railways 7,901,325,667 7,412,515,777 8,000,000,000 2001.02.00 Postal 8,396,064,408 7,709,579,363 210,000,000 2001.03.00 Stores Advance Accounts (Explosive Items) 110,000,000 220,272,044 60,000,000 2001.04.00 Prisons Industrial and Agricultural Advance Account 67,988,050 60,669,494 16,870,000,000 Revenue From Other Sources (a) 16,475,378,125 15,403,036,678
8,000,000,000 2002.01.00 Rent 4,727,461,585 5,590,677,887 1,400,000,000 2002.01.01 Rent on Government Building & Housing 1,069,071,156 963,818,831 2,620,000,000 2002.01.02 Rent on Crown Forests 1,837,114,653 1,906,610,218 80,000,000 2002.01.03 Rent from Land and Other 110,745,021 55,324,037 1,550,000,000 2002.01.04 Lease Rental from Regional Plantation Companies 754,243,669 873,390,090 – 2002.01.05 National Rent Income from Land & Building – – 2,350,000,000 2002.01.99 Other Rental 956,287,087 1,791,534,711 10,000,000,000 2002.02.00 Interest 13,819,218,389 8,140,414,746 7,000,000,000 2002.02.01 On-Lending 6,700,060,923 6,212,829,255 3,000,000,000 2002.02.99 Other 7,119,157,466 1,927,585,491 63,900,000,000 2002.03.00 Profits 22,833,341,079 37,230,000,000 6,100,000,000 2002.04.00 Dividends 5,024,126,610 4,597,989,685 – 2002.05.00 Transferring Surplus Fund from Public Enterprises – – 170,000,000 2003.01.00 Departmental Sales 116,697,566 162,290,249 70,205,000,000 2003.02.00 Administrative Fees & Charges 57,817,721,076 60,535,946,829 170,000,000 2003.02.01 Audit Fees 276,697,315 165,030,064 – 2003.02.02 Air Navigation Fees – – 635,000,000 2003.02.03 Fees Under Registration of Persons 660,046,032 422,242,766 420,000,000 2003.02.04 Fees of Department of Survey 432,271,585 433,055,709 860,000,000 2003.02.05 Service Charges of Government Press 1,117,942,396 865,910,551 25,000,000 2003.02.06 Fees Under the Fauna & Flora Protection Ordinance 25,166,632 24,614,885 19,000,000,000 2003.02.07 Fees of Passports, Visas & Dual Citizenship 14,054,129,607 17,258,407,247 24,500,000,000 2003.02.08 Embarkation Levy 22,125,349,426 19,964,333,668 150,000,000 2003.02.09 Fees of Department of Valuation 121,435,816 142,902,142 Financial
Statements 250,000,000 2003.02.10 Fees of Registrar of Companies 116,430,130 113,665,006 62,000,000 2003.02.11 Legal Fees from Corporations & Statutory Bodies 110,711,041 64,610,665
208 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Budget Estimate Revenue Actual Revenue 2019 CodeRevenue Title 2019 2018 Rs. Rs. Rs. 38,000,000 2003.02.12 Fees Recovered Under the Public Contract Act 41,895,000 39,502,500 350,000,000 2003.02.13 Examinations & Other Fees 325,084,139 287,176,086 11,500,000,000 2003.02.14 Fees Under the Motor Traffic Act & Other Receipts 10,288,597,977 10,432,564,286 Registration Fees on Motor Vehicle Transfers Under 10,000,000 2003.02.15 the Issuing Motor Vehicle Permits on Concessionary 14,409,116 39,925,273 Terms 220,000,000 2003.02.16 Air craft Rentals 127,906,937 74,576,453 350,000,000 2003.02.17 Fee on Local Sale of Garments 145,947,792 306,300,455 315,000,000 2003.02.18 Fees Relevant to the Department of Agriculture 308,005,585 291,001,573 1,200,000,000 2003.02.19 Fees Relevant to the Botanical Gardens 713,347,445 836,498,614 – 2003.02.20 Accounting & Auditing Standards Cess Levy – – 150,000,000 2003.02.21 Fees Relevant to the Ministry of Petroleum Industries 123,418,859 131,000,069 10,000,000,000 2003.02.99 Sundries 6,688,928,245 8,642,628,817 7,125,000,000 2003.03.00 Fines and Forfeits 5,158,828,973 7,046,275,651 5,425,000,000 2003.03.01 Fines and Forfeits – Customs 3,379,832,212 5,464,283,033 1,700,000,000 2003.03.02 Fines and Forfeits – Other 1,778,996,761 1,581,992,618 – 2003.04.00 Public Officer's Motor Cycle Premium 6,793,535 38,886,714 880,000,000 2003.05.00 Treasury Bonds Premium 1,700,348,628 582,208,345 Revenue from the United Nations' Peacekeeping 3,850,000,000 2003.06.00 1,681,413,850 2,518,434,615 Operations – 2003.07.00 Programme for Purchasing of Paddy 299,814,540 – 47,500,000,000 2003.99.00 Other Receipts 10,483,992,338 37,456,484,012 30,000,000,000 2004.01.00 Social Security Contributions 28,984,852,661 25,214,516,999 19,000,000,000 2004.01.00 Central Government 18,958,920,951 16,531,521,737 11,000,000,000 2004.02.00 Provincial Councils 10,025,931,710 8,682,995,262 19,000,000,000 2005 Current Transfers 3,141,340,603 18,260,786,882 15,000,000,000 2005.01.00 Central Bank Profits – 15,000,000,000 4,000,000,000 2005.01.99 Other Transfers – – 2005.99.00 National Lotteries Board and Other Transfers 3,141,340,603 3,260,786,882 – 2006.03.00 Domestic Capital Transfer – -- – 2006.20.00 Other – -- 266,730,000,000 Revenue From Other Sources (b) 155,795,951,433 207,374,912,614 283,600,000,000 Total Non – Tax Revenue & Other Revenue (a) + (b) 172,271,329,558 222,777,949,292 2,360,600,000,000 Total Revenue (Note 1 – 4) 1,907,196,368,629 1,935,095,487,228 Financial Statements
209 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Budget Object Actual Estimate Object Title 2019 Code 2019 2018 Rs. Rs. Rs. OBJECT CODE WISE CLASSIFICATION OF SALARIES, NOTE – 5 WAGES & OTHER EMPLOYMENT BENEFITS Personal Emoluments 300,125,353,228 1001 Salaries and Wages 296,589,646,212 258,299,811,213 36,390,267,302 1002 Overtime and Holiday Payments 35,759,281,053 28,980,856,840 199,244,057,373 1003 Other Allowances 196,442,181,741 197,478,125,129 535,759,677,903 Total 528,791,109,005 484,758,793,181
OBJECT CODE WISE CLASSIFICATION OF OTHER NOTE – 6 GOODS AND SERVICES Travelling Expenditure 14,824,063,454 1101 Domestic 14,592,002,862 12,677,766,414 2,354,901,572 1102 Foreign 2,151,055,596 2,443,310,453 17,178,965,026 Total (a) 16,743,058,458 15,121,076,867 Supplies 3,481,138,706 1201 Stationery and Office Requisites 3,242,430,870 2,953,346,920 17,941,584,418 1202 Fuel 17,519,340,773 16,607,881,812 35,669,378,029 1203 Diets and Uniforms 29,180,852,037 24,508,923,383 57,140,972,000 1204 Medical Supplies 56,390,577,101 45,909,282,517 8,200,559,968 1205 Other 5,913,311,662 5,155,597,453 122,433,633,121 Total (b) 112,246,512,443 95,135,032,085 Maintenance Expenditure 4,130,227,503 1301 Vehicles 3,798,595,176 3,584,323,085 3,674,809,334 1302 Plant and Machinery 3,167,542,816 2,446,443,103 1,405,943,295 1303 Buildings and Structures 1,186,163,756 1,151,528,199 9,210,980,132 Total (c) 8,152,301,748 7,182,294,387 Services 5,790,725,367 1401 Transport 5,418,035,844 5,330,183,233 4,112,574,026 1402 Postal and Communication 3,898,930,382 4,009,154,880 12,578,939,273 1403 Electricity and Water 12,280,548,725 11,325,879,189 8,349,707,326 1404 Rents and Local Taxes 7,379,294,079 7,014,288,064 680,496,689 1406 Interest Payment for Leased Vehicles 667,452,913 1,170,028,998 Lease Rental for Vehicles Procured Under Operational 906,237,859 1408 807,122,110 767,477,934 Leasing 40,839,957,812 1409 Other 32,241,044,778 25,238,411,818 73,258,638,351 Total (d) 62,692,428,831 54,855,424,117 TOTAL EXPENDITURE ON OTHER GOODS AND 222,082,216,630 199,834,301,479 172,293,827,456 SERVICES (a+b+c+d)
OBJECT CODE WISE CLASSIFICATION OF NOTE – 7 TRANSFERS, GRANTS & SUBSIDIES Transfers 144,361,094,710 1501 Welfare Programmes 134,588,851,404 111,596,401,751 241,731,576,502 1502 Retirement Benefits 239,369,756,396 195,153,776,493 85,830,797,817 1503 Public Institutions 82,396,644,218 76,820,764,463 51,707,203,700 1504 Development Subsidies 39,232,809,870 28,275,895,416 2,840,032,491 1505 Subscriptions and Contributions Fee 2,178,854,528 1,977,924,379 2,849,288,954 1506 Property Loan Interest to Public Servants 2,789,400,914 2,716,934,314 199,968,250,000 1507 Grants to Provincial Councils 199,968,250,000 180,095,059,000 5,344,777,008 1508 Other 2,984,043,040 2,824,651,772 Financial Statements – 1509 Contribution to Contingencies Fund – – 734,633,021,182 Total 703,508,610,370 599,461,407,587
210 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Budget Object Actual Estimate Object Title 2019 Code 2019 2018 Rs. Rs. Rs.
OBJECT CODE WISE CLASSIFICATION OF INTEREST NOTE – 8 PAYMENTS AND DISCOUNTS 559,158,501,000 1601 Domestic Debt 529,202,803,833 484,130,141,662 237,090,358,000 1602 Foreign Debt 233,969,577,388 184,532,431,496 126,741,609,000 1603 Discounts on Treasury Bills and Treasury Bonds 125,614,559,171 183,527,473,328 922,990,468,000 Total 888,786,940,392 852,190,046,487
OBJECT CODE WISE CLASSIFICATION OF OTHER NOTE – 9 RECURRENT EXPENDITURE 1,199,316,355 1701 Losses and Write off 649,054,147 207,896,253 9,837,200 1702 Contingency Services – 64,196,967 1703 Implementation of the Official Languages Policy 52,704,330 52,420,058 1,273,350,521 Total 701,758,477 260,316,311
Grand Total (Notes 5 to 9) Total Recurrent 2,416,738,734,237 2,321,622,719,723 2,108,964,391,022 Expenditure
OBJECT CODE WISE CLASSIFICATION OF PUBLIC NOTE – 10 INVESTMENT Rehabilitation and Improvements of Capital Assets 24,297,185,121 2001 Buildings and Structures 13,886,499,558 16,164,786,626 9,724,162,986 2002 Plant, Machinery and Equipment 7,090,649,778 7,691,450,592 6,750,623,747 2003 Vehicles 6,241,474,760 5,762,937,926 40,771,971,854 Total (a) 27,218,624,096 29,619,175,144 Acquisition of Capital Assets 23,983,283,000 2101 Vehicles 15,723,287,192 14,833,939,462 14,976,082,360 2102 Furniture and Office Equipment 5,949,536,806 5,633,780,094 21,516,111,394 2103 Plant, Machinery and Equipment 13,624,650,562 14,386,352,736 87,476,857,201 2104 Buildings and Structures 49,653,000,797 58,931,125,477 30,802,186,386 2105 Lands and Land Improvements 22,447,484,405 21,230,973,647 2,464,145,127 2106 Software Development 742,539,012 4,868,559,374 5,564,902,218 2108 Capital Payment for Leased Vehicles 5,497,518,386 5,446,134,116 186,783,567,686 Total (b) 113,638,017,159 125,330,864,906
Capital Transfers 90,686,728,316 2201 Public Institutions 72,697,098,439 63,298,443,565 52,677,787,250 2202 Development Assistance 30,966,308,672 29,475,901,318 27,334,000,000 2203 Contribution to Provincial Councils 13,581,150,000 15,997,800,000 1,990,600,000 2204 Transfers Abroad 1,950,723,440 3,578,579,570 3,880,580,346 2205 Capital Grants to Non-Public Institution 2,073,865,998 1,450,248,949 176,569,695,912 Total (c) 121,269,146,549 113,800,973,401
Acquisition of Financial Assets 27,327,953,000 2301 Equity Contribution 24,910,680,958 8,689,622,845 16,054,940,000 2302 On-Lending 12,166,171,718 12,408,495,545 43,382,893,000 Total (d) 37,076,852,676 21,098,118,391 Capacity Building 7,791,548,195 2401 Staff Training 6,117,647,299 7,472,838,173
7,791,548,195 Total (e) 6,117,647,299 7,472,838,173 Financial Statements
211 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Budget Object Actual Estimate Object Title 2019 Code 2019 2018 Rs. Rs. Rs. Other Capital Expenditure 1,613,232,000 2501 Restructuring 1,158,930,748 1,289,134,984 350,000,000 2502 Investments 145,143,939 – 4,571,276,984 2503 Contingency Services 6,430,051 5,117,806 11,693,640,000 2504 Contribution to Provincial Councils 5,230,423,530 7,483,251,116 298,072,400 2505 Procurement Preparedness 116,127,623 244,109,792 460,678,951,804 2506 Infrastructure Development 280,484,093,192 268,972,401,070 9,608,314,037 2507 Research and Development 7,160,441,327 7,546,587,255 67,341,408,141 2509 Other 37,597,007,170 42,447,817,481 556,154,895,366 Total (f) 331,898,597,581 327,988,419,503
TOTAL EXPENDITURE ON PUBLIC INVESTMENTS 1,011,454,572,013 637,218,885,361 625,310,389,518 (a+b+c+d+e+f) 3,428,193,306,250 Total Expenditure (Notes 5 to 10) 2,958,841,605,085 2,734,274,780,540 Financial Statements
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Notes to the Financial Statements contd...
NOTE – 11 – FOREIGN BORROWINGS – 2019 2019 2018 Amount Amount Project Loan Key Amount Loan (Loan (Loan Amount (Rs.) Agency Agency Funding Funding (Rs.) Currency Currency) Currency) ASIAN DEVELOPMENT BANK (ADB) 33,529,668,541 63,464,380,565
Greater Colombo Waste Water Management 1 2009028 USD 4,059,917 725,951,731 9,474,206 1,547,411,852 Project (OCR)
Greater Colombo Waste Water Management 2 2009029 XDR 961,345 220,310,429 277,442 63,541,006 Project (ADF)
ADB Funded Fiscal Management Efficiency 3 2010019 USD 5,399,542 891,847,087 Project
Jaffna & Kilinochchi Water Supply & Sanitation 4 2011001 USD 68,128 12,005,847 49,408 7,802,530 Project (OCR)
Jaffna & Kilinochchi Water Supply & Sanitation 5 2011002 XDR 6,585,102 1,655,451,469 6,186,652 1,372,819,247 Project (ADF)
6 Sustainable Power Sector Support Project 2011012 USD 145,666 18,973,281
7 Northern Road Connectivity Project (ADF) 2012029 XDR 1,102,851 251,788,276 2,915,877 648,451,439
8 Northern Road Connectivity Project (ADF) 2012030 USD 1,590,566 282,092,817 1,527,907 255,654,894
Clean Energy and Network Efficiency 9 2013015 USD 257,250 39,467,667 Improvement Project
Dry Zone Urban Water and Sanitation Project 10 2013021 XDR 5,929,998 1,441,820,721 3,131,590 697,019,823 (ADF)
Education Sector Development Programme 11 2013034 USD 6,500,000 1,016,859,200 (OCR)
Education Sector Development Programme 12 2013035 XDR 4,330,068 969,978,678 (ADF)
Greater Colombo Water Waste Water 13 2013042 USD 8,246,962 1,437,476,815 6,504,133 998,955,438 Management Improvement Project
Greater Colombo Water Waste Water 14 2013043 XDR 862,765 210,966,875 1,208,851 275,496,334 Management Improvement Project
15 Southern Road Connectivity Project 2014017 USD 5,872,321 1,043,906,494 12,611,380 2,024,314,481
16 Southern Road Connectivity Project 2014018 XDR 11,878 2,910,558 285,571 67,016,574
17 Skills Sector Enhancement Programme 2014005 USD 5,000,000 779,862,500
18 Skills Sector Enhancement Programme 2014006 XDR 3,260,000 740,139,611
19 Integrated Road Investment Programme 2014041 XDR 3,273,346 804,668,057 1,060,705 237,527,955
Greater Colombo Water and Waste Water 20 2014029 USD 10,997,691 1,915,173,420 4,312,532 667,287,063 Management Programme-2
Greater Colombo Water and Waste Water 21 2014030 XDR 598,731 147,275,762 657,541 148,248,971 Management Programme-3
22 Integrated Road Investment Programme 2015010 USD 3,656,981 655,148,353
Mahaweli Water Security Investment 23 2015025 USD 1,466,272 262,773,093 8,214,482 1,323,704,133 Programme
Mahaweli Water Security Investment 24 2015024 XDR 4,718,332 1,164,032,899 6,083,471 1,395,476,355 Programme
Integrated Road Investment Programme – 25 2015036 USD 3,912,134 696,704,806 46,575,068 7,366,368,334 Tranch 3
Integrated Road Investment Programme – 26 2015037 XDR 387,625 78,451,570 Tranch 3
Small and Medium Sized Enterprises Line of 27 2016014 USD 12,499,998 1,874,999,700 37,500,002 5,766,371,553 Credit Financial Statements
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Notes to the Financial Statements contd...
NOTE – 11 – FOREIGN BORROWINGS – 2019 2019 2018 Amount Amount Project Loan Key Amount Loan (Loan (Loan Amount (Rs.) Agency Agency Funding Funding (Rs.) Currency Currency) Currency) Greater Colombo Water & Waste Water 28 Management Improvement Investment 2016033 XDR 71,089 17,553,019 41,460 9,891,075 Programme
Greater Colombo Water & Waste Water 29 Management Improvement Investment 2016034 USD 5,043,998 902,122,845 621,336 98,657,270 Programme
30 Transport Project Preparatory Facility 2016035 XDR 1,062,968 262,336,748 1,704,962 399,685,724
Local Government Enhancement Sector 31 2016036 USD 9,866,644 1,747,812,751 7,323,821 1,162,141,724 Project – Additional Financing
Project Design Advance for Northern Province 32 2017010 USD 174,811 31,317,184 427,515 67,491,894 Sustainable Fisheries Development Project
33 Capital Market Development Programme 2016038 USD 125,000,000 19,403,187,500
Second Integrated Road Investment 34 2017037 USD 15,232,093 2,700,125,417 17,912,976 2,885,213,691 Progrmme – Tranche I
Jaffna Kilinochchi Water Supply Project – 35 2017039 USD 144,892 25,575,310 36,417 5,750,975 Additional Financing
Integrated Road Investment Programme – 36 2017040 USD 23,432,527 4,145,089,145 19,614,412 3,309,028,440 Tranche 4
Small and Medium Enterprises Line of Credit – 37 2018005 USD 25,000,000 3,956,422,500 Additional Financing
Mahaweli Water Security Investment 38 2018018 USD 336,720 59,877,643 88,053 15,517,242 Programme – Tranche 2
Mahaweli Water Security Investment 39 2018019 USD 7,544,116 1,278,554,140 1,947,036 316,738,571 Programme – Tranche 2
Second Integrated Road Investment 40 2017036 USD 10,192,887 1,790,373,953 433,739 73,235,981 Programme Tranch 01
Skills Sector Enhancement Programme – 41 2018020 USD 15,000,000 2,685,963,300 7,800,000 1,417,422,240 Additional Financing
Skills Sector Enhancement Programme – 42 2018021 USD 10,000,000 1,790,642,200 5,200,000 944,948,160 Additional Financing
43 Health System Enhancement Project 2018045 USD 2,785,000 489,851,422
South Asia Sub Regional Economic 44 Cooperation Port Access Elevated Highway 2019012 USD 389,275 69,003,191 Project (SASEC)
Science & Technology Human Resource 45 2019030 USD 3,123,488 551,259,400 Development Project
46 Technical Assistance Loan Agreement 2019007 USD 1,000,000 176,752,750 EXPORT IMPORT BANK OF UNITED STATES 1,506,090,427 136,179,117
47 Badulla Haliela & Ella Water Supply Project 2013025 USD 9,421,368 1,506,090,427 892,279 136,179,117 BOERENLEEN BANK 282,543,637 811,796,799
48 Development of General Hospital Kaluthara 2016012 EUR 1,387,054 282,543,637 4,640,275 811,796,799 HSBC BANK PLC (UK) – 501,367,168
Modernization of Processing Factories of 49 2013012 USD 3,304,220 501,367,168 MILCO (Pvt) Ltd HSBC (With Guarantee of EKF Denmark) 413,429,364 1,414,599,082
Establishment of Dairy Processing Plant at 50 2015019 EUR 2,044,407 413,429,364 7,466,565 1,414,599,082 Financial Badalgama Statements
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Notes to the Financial Statements contd...
NOTE – 11 – FOREIGN BORROWINGS – 2019 2019 2018 Amount Amount Project Loan Key Amount Loan (Loan (Loan Amount (Rs.) Agency Agency Funding Funding (Rs.) Currency Currency) Currency) HSBC Limited (Hong Kong) – 2,273,572,328
Procurement of 09 Nos Diesel Multiple Units 51 for Upcountry Line Operation of Sri Lanka 2018015 USD 14,080,201 2,273,572,328 Railways INTERNATIONAL DEVELOPMENT ASSOCIATION 7,825,262,326 22,432,097,289
Transforming the School Education System as 52 2012012 XDR 3,873,930 876,988,200 the Foundation of a Knowledge Hub Project
53 Second Health Sector Development Project 2013030 XDR 16,985,532 3,904,891,651
Climate Resilience Improvement Management 54 2014010 XDR 13,530,001 3,009,422,866 Programme
55 Strategic Cities Development Project 2014019 XDR 3,369,441 845,254,580 10,453,157 2,346,134,710
56 Skills Development Project 2014022 XDR 1,560,000 380,558,525 3,120,000 693,695,448
Additional Financing for Dam Safety & Water 57 2014020 XDR 6,717,647 1,504,850,142 Resources Planning Project
Water Supply and Sanitation Improvement 58 2015028 XDR 15,089,657 3,382,126,620 Project
59 Early Childhood Development Project 2015030 XDR 2,174,197 529,465,200 4,738,944 1,070,859,773
Additional Financing for Strategic Cities 60 2016027 XDR 3,326,244 815,362,390 2,640,106 593,326,340 Development Project
Additional Financing for Climate Resilience 61 2016028 XDR 2,907,974 695,970,809 4,351,551 981,348,300 Improvement Project
Ecosystem Conservation and Management 62 2016029 XDR 3,960,468 979,995,650 3,299,622 737,726,200 Project
63 Social Safety Nets Project 2016043 XDR 109,040 27,347,688
64 Agriculture Sector Modernization Project 2017001 XDR 1,633,225 413,092,990 10,533,074 2,313,526,696
Transport Connectivity & Asset Management 65 2017023 XDR 1,692,442 419,329,418 1,052,265 236,127,195 Project
Accelerating Higher Education Expansion & 66 2017017 XDR 1,816,600 461,403,685 3,345,000 750,082,802 Development Operation (AHEAD) Programme
67 Financial Sector Modernization Project 2017024 XDR 4,337,358 1,086,503,667 138,500 30,990,345
68 General Education Modernization Project 2018033 USD 4,331,214 764,780,473
69 Climate Smart Irrigated Agriculture Project 2019021 USD 2,300,000 406,197,250 INTERNATIONAL BANK FOR RECONSTRUCTION 1,737,866,894 4,390,834,327 AND DEVELOPMENT
70 Metro Colombo Urban Development Project 2012011 USD 5,000,000 906,399,500 25,000,000 3,932,942,500
Accelerating Higher Education Expansion & 71 2017019 USD 3,700,000 669,622,920 2,881,484 457,891,827 Development Operation (AHEAD) Programme
PPF-Programmatic Preparation Advance No 72 2018036 USD 250,000 39,900,075 - P 4940
Primary Health Care System Strengthening 73 2019001 USD 694,622 121,944,399 Project INTERNATIONAL FUND FOR AGRICULTURAL 907,849,835 687,871,760 DEVELOPMENT
National Agri Business Development 74 2010009 XDR 350,092 70,701,079 Programme
75 Iranamadu Irrigation Development Project 2012008 XDR 271,111 53,306,521 Financial Statements
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Notes to the Financial Statements contd...
NOTE – 11 – FOREIGN BORROWINGS – 2019 2019 2018 Amount Amount Project Loan Key Amount Loan (Loan (Loan Amount (Rs.) Agency Agency Funding Funding (Rs.) Currency Currency) Currency) Sri Lanka Smallholder Tea and Rubber 76 2016016 XDR 2,448,068 611,139,920 1,581,395 353,022,955 Revitalization Project (STARR)
Implementation of Smallholder Agribusiness 77 2017014 USD 1,635,590 296,709,916 1,222,519 210,841,204 Partnership(SAP) Programme ORGANISATION OF PETROLEUM EXPORTING 3,139,057,695 3,502,525,180 COUNTRIES (OPEC)
78 Kalu Ganga Development Project 2010038 USD 3,269,886 509,925,105
79 Road Network Development Project 2012024 USD 370,714 66,698,646 638,053 100,184,573
80 Colombo National Highways Project 2013023 USD 1,607,311 285,575,147 3,895,261 620,293,562
Rehabilitation of the A 05 Road Corridor from 81 2015015 USD 4,798,235 850,721,931 7,290,815 1,175,722,782 Badulla to Chenkaladi Project
82 Western Province Road Development Project 2015014 USD 2,492,860 440,181,227 4,580,703 730,599,175
Kalu Ganga Development Project (Additional 83 2017030 USD 8,353,606 1,495,880,744 2,094,545 365,799,983 Loan) Raiffisen Zentral Bank 962,798,432 1,922,010,924
84 Implementation of the Kochchikade Bridge 2016001 EUR 596,097 121,199,718 2,192,062 421,800,222
Enhancement and Upgrading of Technical 85 Training Institute of Engineering Technology 2017025 EUR 2,049,114 417,230,810 2,799,805 542,970,392 at Katunayaka
Obtaining 100 Ambulance Cars for 86 2017029 EUR 2,167,306 424,367,905 5,024,210 957,240,310 Government Hospitals UNICREDIT BANK AUSTRIA AG 657,325,543 845,197,072
Sewerage Infrastructure at Kataragama 87 2013045 EUR 595,434 178,590,366 Sacred City Area
Supply and Installation of Laboratory and 88 Medical Equipment for the Ministry of Higher 2018017 EUR 1,094,277 219,013,372 3,304,923 666,606,705 Education and Highways in Sri Lanka
Implementation of Kirama- Katuwana 89 2018003 EUR 2,097,122 438,312,171 Integrated Water Supply Scheme BNP PARIBAS
90 Reconstruction of (7) Railway Steel Bridges 2013032 EUR CALYON CREDIT AGRICOLE CIB 9,256,861,170 4,247,856,180
Implementation of Greater Matale Water 91 2016019 EUR 14,638,640 2,761,202,346 4,622,450 856,967,849 Supply Project
Implementation of Kelani Right Water Supply 92 2016020 EUR 34,103,519 6,495,658,824 18,276,690 3,390,888,331 Project – Phase 11 CO-OP CENTRALE RAIFFEISEN- 3,782,478,286 2,346,118,941 BOERENLEENBANK
93 Construction of 463 Rural Bridges 2014035 USD 5,784,684 1,087,866,103
Implementation of Importation of 20,000 94 2016040 USD 11,049,088 1,710,238,940 Dairy Animals Project (USD 62.86)
Implementation of Importation of 20,000 95 2016041 USD 8,319,831 1,312,254,523 Dairy Animals Project (USD 11.09)
Pilot Project on Establishment of a 96 Groundwater Monitoring Network in Three 2017034 EUR 3,750,895 759,984,822 6,564,066 1,258,252,838 Selected District Financial Statements
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Notes to the Financial Statements contd...
NOTE – 11 – FOREIGN BORROWINGS – 2019 2019 2018 Amount Amount Project Loan Key Amount Loan (Loan (Loan Amount (Rs.) Agency Agency Funding Funding (Rs.) Currency Currency) Currency) CHINA DEVELOPMENT BANK CORPORATION 4,413,467,830 6,483,317,842
97 Moragahakanda Development Project 2012017 USD 4,821,082 740,699,892
Improvement and Rehabilitation of Priority 98 2014001 USD 10,986,251 1,955,848,180 16,985,442 2,738,410,957 Roads Project 3 (Phase i)
Improvement and Rehabilitation of Priority 99 2014034 USD 13,784,378 2,457,619,650 18,795,745 3,004,206,993 Roads Project 3 (Phase ii) GOVERNMENT OF FRANCE 758,529,380 813,423,879
Implementation of Ambathale Water Supply 100 System Improvement & Energy Savings 2014027 USD 2,865,414 514,790,524 3,000,000 487,500,000 Project
Implementation of Anuradhapura Integrated 101 2016039 EUR 1,242,149 231,056,579 Urban Development Project
Implementation of Sanitation Hygiene 102 2016021 EUR 1,178,762 243,738,856 500,000 94,867,300 Initiative for Towns Project Phase I GOVERNMENT OF GERMANY – 409,519,917
Construction of the Mahamodara Maternity 103 2012022 EUR 2,132,817 406,096,552 Hospital Galle
104 Grid Substation Kelaniya & Ratmalana 1998037 EUR 22,880 3,423,365 GOVERNMENT OF INDIA 3,700,164,440 6,834,154,828
105 Upgrading of Railway Line Colombo-Matara 2008011 USD 59,063 10,356,946
106 Upgrading of Railway Line Colombo Matara Phase II 2010010 USD 425,919 68,096,313
Railway Line Omanthai -Pallai, Madhu- 107 2010052 USD 5,077,969 901,372,596 Tallaimannar & Medawachchiya
108 India Dollar Credit Line Agreement 2008006 USD 238,110 36,597,436
109 Greater Dabulla Water Supply Project I 2012002 USD 5,206,354 879,190,314 2,576,286 411,932,453
110 Restoration of Northern Railway Services 2012003 USD 15,683,620 2,810,617,179 7,587,412 1,172,486,901
111 Procurement of Two Advanced Offshore Petrol Vessels 2013046 USD 26,898,148 4,243,669,130 GOVERNMENT OF KUWAIT 1,040,319,174 2,421,573,021
112 Moragahakanda Kalu Ganga Development Project 2009002 KWD 240,687 134,527,147 3,127,654 1,655,928,878
South Eastern University of Sri Lanka 113 2011030 KWD 531,067 276,893,821 Development Project Phase I "B"
114 Reconstruction of 25 Bridges Project 2014002 KWD 270,401 157,036,795 451,744 235,861,536
Building Complex For the Faculty of Healthcare 115 2016017 KWD 649,080 103,738,345 142,706 73,294,758 Sciences, Eastern University, Sri Lanka
Kalu Ganga Development Project 116 2017033 KWD 1,096,509 645,016,887 311,922 179,594,028 (Supplementary) SAUDI FUND FOR ARAB ECONOMIC 2,494,826,112 3,228,232,169 DEVELOPMENT
117 Baticoloa – Trincomalee Road Project 2004043 SAR 69,306 2,730,667
118 Epilepsy Hospital & Health Centers Project 2008001 SAR 2,003,346 92,687,121 4,673,678 190,140,490
119 Kalu Ganga Development Project 2010028 SAR 46,342,106 1,923,407,411
120 Road Network Development Project 2012025 SAR 4,816,120 218,455,012 789,667 34,850,619
121 Epilepsy Hospital & Health Centers Project (ADF) 2015027 SAR 13,407,371 568,011,655
Improvement of Peradeniya-Badulla – 122 2015026 SAR 20,713,680 953,396,194 12,215,658 509,091,327 Chenkaladi Road Project Financial Statements
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Notes to the Financial Statements contd...
NOTE – 11 – FOREIGN BORROWINGS – 2019 2019 2018 Amount Amount Project Loan Key Amount Loan (Loan (Loan Amount (Rs.) Agency Agency Funding Funding (Rs.) Currency Currency) Currency) Kalu Ganga Development Project (Additional 123 2018024 SAR 25,856,413 1,230,287,785 Finance) GOVERNMENT OF JAPAN 15,730,991,212 17,400,529,849
124 Kandy City Waste Water Management Project 2010016 JPK 1,222,245 1,946,302,029 1,358,261 1,948,753,921
Greater Colombo Urban Transport 125 2011003 JPK 235,108 333,126,063 Development Project – Phase II
126 Habarana-Veyangoda Transmission Line 2012006 JPK 2,556 3,451,592
Improvement of Basic Social Services 127 2012007 JPK 90,429 153,829,160 1,099,084 1,581,591,381 Targeting Emerging Region
Greater Colombo Transmission and 128 2013016 JPK 20,971 24,677,196 Distribution Loss Reduction Project
129 Major Bridges Construction Project 2013018 JPK 707,288 1,120,082,364 1,368,330 2,035,970,785
130 Landslide Disaster Protection Project 2013019 JPK 1,452,476 2,355,844,374 1,771,792 2,636,222,773
131 Anuradhapura North Water Supply Project 2013020 JPK 1,281,825 1,992,591,118 362,537 524,643,467
132 New Bridges Construction Project Over the Kelani River 2014003 JPK 4,192,562 6,824,635,054 5,526,094 8,315,544,262
133 Anuradhapura North Water Supply Project (Phase 2) 2016037 JPK 105,801 157,667,825
Establishment of Light Rail Transit Project 134 2019011 JPK 736,039 1,176,587,696 System in Colombo (i) BANCO BILBAO VIZCAYA ARGENTARIA (SPAIN) – 282,894,641
Supply of Three Flyovers in Ganemulla, 135 2015033 EUR 1,530,192 282,894,641 Polgahawela and Rajagiriya GOVERNMENT OF THE REPUBLIC OF KOREA 2,388,476,681 1,485,422,631
Establishment of Colombo Central Vocational 136 Training Center and Gampaha College of 2013033 KRK 4,181,634 669,117,972 3,815,893 559,723,953 Technology Project in Sri Lanka
137 Construction of Solid Waste Disposal Facilities 2013031 KRK 307,314 43,577,085
Hatton – Nuwara Eliya Road Improvement 138 2015011 KRK Project (Supplementary Loan)
139 Deduru Oya Water Supply Project 2014038 KRK 10,832,133 1,675,781,623 6,393,640 925,698,678 EXPORT FINANCE & INSURANCE CORPORATION – 185,732,518
Supply and Purchase of Clinical Waste 140 2015034 USD 1,178,026 185,732,518 Disposal System & Related Equipment THE EXPORT – IMPORT BANK OF CHINA 54,578,537,111 55,534,237,260
Matara Beliatta Section of Matara- Kataragama 141 2013005 USD 6,853,910 1,235,091,981 13,362,642 2,126,500,479 Railway Line Extension
142 Kurunegala Water Supply & Sewerage Project 2013041 CNY 45,285,961 1,133,774,798 190,284,964 4,486,709,948
Matara-Beliatta Section of Matara- Kataragama 143 2013022 CNY 47,377,642 1,247,237,456 65,541,716 1,604,676,251 Railway Line Extension
Construction of Outer Circular Highway 144 Project Phase III from Kerawalapitiya to 2014024 USD 82,451,347 14,778,384,653 80,969,279 12,967,138,958 Kadawatha
Construction Extension of Southern 145 Expressway Section 1 from Matthala to 2014025 CNY 329,405,454 8,544,101,603 247,681,494 5,956,057,648 Beliattha
Construction Extension of Southern
Financial 146 Expressway Section 1 from Matthala to 2014040 USD 56,896,204 10,233,144,861 119,488,461 19,093,499,936 Statements Beliattha
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Notes to the Financial Statements contd...
NOTE – 11 – FOREIGN BORROWINGS – 2019 2019 2018 Amount Amount Project Loan Key Amount Loan (Loan (Loan Amount (Rs.) Agency Agency Funding Funding (Rs.) Currency Currency) Currency) 147 Hambantota Hub Development Project 2014026 CNY 241,713,406 6,340,763,585 143,579,999 3,469,539,437
Construction Extension of Southern 148 Expressway Section 2 from Beliattha to 2016015 USD 43,265,643 7,726,547,925 24,324,148 3,847,147,895 Wetiya Project
Consultancy Services for Design Review and 149 Construction Supervision of Civil Works on 2017042 CNY 94,710,818 2,461,438,975 83,293,431 1,982,966,708 Extension of Southern Expressway Project
Widening & Improvement of 64.31Km of Roads 150 and Reconstruction of 13 Bridges in Central & 2018022 USD 4,961,074 878,051,275 Uva Provinces in Sri Lanka EXPORT IMPORT BANK OF HUNGARY 7,068,025 384,534,097
Rehabilitation of Kalatuwawa Water Treatment 151 2013008 EUR 1,005,029 162,171,630 Plant Project
Rehabilitation of Labugama Water Treatment 152 2013009 EUR 37,825 7,068,025 1,379,880 222,362,468 Plant Project DEUTSCHE BANK AG 238,582,868 4,569,818,118
153 Construction of 537 Steel Beam Bridges 2014028 USD 1,339,565 238,582,868 28,880,506 4,569,818,118
KBC BANK OF BELGIUM 46,097,160 –
Implementation of Monaragala -Butthala 154 2014007 EUR 246,508 46,097,160 Water Supply Project THE EXPORT – IMPORT BANK OF INDIA 2,915,539,639 –
Doller Credit Line 318M of the Development of 155 2017013 USD 16,527,000 2,915,539,639 Railway Sector KINGDOM OF SPAIN 275,596,841 879,566,674
Supply of Three Flyovers in Ganemulla, 156 2015032 EUR 1,822,680 350,288,967 Polgahawela and Rajagiriya
Implementation of Anamaduwa Integrated 157 2016023 EUR 1,332,450 275,596,841 2,842,242 529,277,707 Water Supply Project GOVERNMENT OF PAKISTAN 115,195,952 –
158 Pakistan Line of Credit 2006071 USD 652,975 115,195,952 REFUNDS
159 Trincomalee Integrated Infrastructure Project [TIIP] 2005049 EUR -131,299 -23,744,315
Smallholder Plantations Entrepreneurship 160 2007011 XDR -21,818 -5,530,781 Development Programme
161 Trincomalee Integrated Infrastructures Project (TIIP) 2008030 EUR -1,739,630
National Agri Business Development 162 2010009 XDR -497,380 -122,078,647 Programme
163 Dry Zone Urban Water and Sanitation Project (ADF) 2013021 XDR -324 -82,870 Total 152,582,463,059 209,858,349,449
Note:
Project Loans (8343) 152,582,463,059 209,858,349,449
Foreign Currency Term Financing Facility (9190) – 170,922,700,000
International Sovereign Bond (9194) 782,518,480,000 390,826,750,000 935,100,943,059 771,607,799,449 Financial Statements
219 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
NOTE – 12 – FOREIGN GRANTS Actual Donor 2019 2018 Rs. Rs. Grands Received in the form of Cash for Projects DONOR Asian Development Bank (ADB) 5,979,914 64,320,626 The Government of Japan (JICA) 244,773,162 2,730,383,188 International Labour Organization (ILO) 743,633 839,345 United States Agency for International Development (USAID) 167,591 27,751,192 International Development Research Centre (IDRC) 1,238,037 – United Nations Industrial Development Organization (UNIDO) 11,632,108 21,874,187 United Kingdom (UK) 80,982,029 100,603,825 United Nations Development Programme (UNDP) 689,942,230 362,174,374 United Nations Educational, Scientific and Cultural Organization (UNESCO) 11,847,020 13,784,839 United Nations Fund for Population (UNFPA) 31,891,231 5,419,626 United Nations Children's Fund (UNICEF) 76,310,413 83,682,021 World Health Organization (WHO) 58,009,751 23,513,796 World Food Programme (WFP) 251,932,563 376,395,569 World Bank (WB) 238,639,492 862,737,472 United Nations Environment Programme (UNEP) 13,613,074 13,632,902 Global Alliance Vaccination Immunization (GAVI) 38,342,724 18,340,079 South Asian Association for Regional Cooperation (SAARC) 6,856,749 15,658,919 Food and Agricultural Organization (FAO) 1,029,070 7,782,748 Government of Korea 4,312,822 1,612,100 Government of Italy 9,397,916 12,744,519 Government of Norway (NORAD) 36,096,554 61,338,736 Government of Germany 327,050 – Government of Bahrain 9,357,683 – Government of China 5,459,857 86,320,136 Government of Pakistan 19,793,257 1,215,721 Government of Nepal 568,780 – African Asian Rural Development Organization (AARDO) 163,545 546,074 Government of Netherland – 17,391,100 Government of Australia – 249,127 United Nations High Commissioner for Refugees (UNHCR) 3,695,186 130,526,869 UN Habitat 22,936,528 11,375,350 Sri Lanka – 1,000,000 International Development Association (IDA) – 224,970,493 Government of India 4,363,617 5,575,422 Swiss 12,426,456 7,835,682 International Fund for Agricultural Development (IFAD) – 2,674,869 Asia-Pacific Network for Global Change Research (APN) 2,140,303 – Domestic Grant 36,516,566 – Total (a) 1,931,486,913 5,294,270,908 Financial Statements
220 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
NOTE – 12 – FOREIGN GRANTS Actual Donor 2019 2018 Rs. Rs. Grant Received through Special Foreign Currency Accounts International Development Association (IDA) – 79,856,071 Asian Development Bank (ADB) 659,468,385 237,739,500 World Bank – 232,653,020 AIIB – 10,184,814 Total (b) 659,468,385 560,433,406
Grants Received in Materials & Equipments World Food Programme (WFP) 239,162,183 55,005,440 Government of China – 125,667,647 Germany (GIZ) – 145,453,342 Government of India – 37,696,857 Government of Austria – 37,638,701 Asian Development Bank (ADB) 53,501,981 – World Bank 198,925,409 – Total (c) 491,589,573 401,461,987
Direct Payments Government of Japan (JICA) 2,268,530,842 3,447,410,048 Government of India 1,492,653,631 1,291,706,822 Government of German (GIZ) 250,000,000 389,654,383 United Nations Development Programme (UNDP) 21,179,838 45,012,579 Government of China 243,544,490 – Government of Korea 185,476,789 168,337,596 United States Agency for International Development (USAID) – 887,232,106 SWISS 126,635,760 – Asian Development Bank (ADB) 29,723,011 – United Nations Fund for Population (UNFPA) 10,488,430 – World Bank 98,626,449 – Kuwait 100,000,000 – Total (d) 4,826,859,239 6,229,353,534
Grand Total = (a)+(b)+( c)+(d) 7,909,404,110 12,485,519,835 Financial Statements
221 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Actual 2019 2018 Rs. Rs. NOTE – 13 – DOMESTIC NON BANK BORROWINGS Net Borrowings through Treasury Bills – 8085 138,873,674,152 34,090,595,473 Treasury Bonds – 9093 768,000,000,000 763,020,000,000 Foreign Currency Banking Unit (Non Project) – 9107 67,936,552,500 62,376,980,000 Sri Lanka Development Bonds – 9105 61,856,976,534 234,092,178,937 Foreign Currency Banking Unit (Project) 9196 – Note 29(I) 1,014,751,977 5,682,693,811 Treasury Bond – (Active Liability Management Act)- 9202 30,000,000,000 – 1,067,681,955,163 1,099,262,448,221
Net Borrowings through Treasury Bills – 8085 Borrowings through Treasury Bills 1,719,326,620,000 1,653,259,330,000 Less: Total Repayments 1,580,452,945,848 1,619,168,734,527 Net of Borrowings/Repayment 138,873,674,152 34,090,595,473
NOTE – 14 – DOMESTIC DEBT REPAYMENTS Treasury Bonds – 9093 429,651,633,389 517,458,378,919 Sri Lanka Development Bonds – 9105 111,839,134,246 363,553,282,359 Foreign Currency Banking Unit (Non Project) – 9107 – 43,309,391,000 Deferred Loan Re-Payment – 2,006,748,868 Foreign Currency Banking Unit (Project) – 9196 2,588,478,747 2,448,906,834 Ministry of Defence -Suhurupaya Loan – 9198 568,919,602 568,919,602 544,648,165,984 929,345,627,582 Note : – (1) Net Borrowings through Treasury Bills reflects the difference between borrowings through Treasury Bills and their settlements on maturity taken place during the year. (2) Government Borrowings made during the year for re financing and pre-financing under the Active Liability Management Act No. 8 of 2018 should be excempted from the borrowing limit approved by Appropriation Act in 2019.
Actual 2019 2018 Rs. Rs. NOTE – 15- RECOVERIES FROM ON-LENDING National Development Bank 1,420,058,229 604,302,045 Sri Lanka Ports Authority 5,987,849,177 5,179,100,598 Development Finance Corporation of Ceylon 2,574,014,880 2,685,022,076 Hatton National Bank 326,789,954 612,460,334 Bank of Ceylon 122,700,317 195,367,994 Sampath Bank 411,370,702 556,749,582 Commercial Bank 515,370,597 506,121,566 Seylan Bank 23,684,241 41,900,520 People's Bank 177,158,849 177,505,793 Regional Development Bank 263,268,467 202,950,119 Sri Lanka Savings Bank 821,858,133 9,607,640 Nations Trust Bank 82,964 – Colombo Municipal Council 93,678,196 46,839,098 Ceylon Petroleum Corporation 37,979,695 113,939,085 Lanka Orix Leasing Company 60,062,304 160,546,668 Local Loan Development Fund 156,803,784 121,575,155 Revolving Funds of Central Bank with Regional Development Banks 3,587,182,609 13,130,943,447 Airport & Aviation Service (Ltd) 972,293,316 864,301,482 Other Institutions 331,886,304 62,282,250 Sub Total (a) 17,884,092,718 25,271,515,453
Treasury Funded Lending
AHF Loan Scheme 191,819,536 212,473,332 Other Loans 195,437,026 99,653,562 Sub Total (b) 387,256,561 312,126,894
Grand Total (a+b) 18,271,349,279 25,583,642,347 Financial Statements
222 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
NOTE 16 – STATEMENT OF NON-FINANCIAL ASSETS 2019 Land- 9153: 504,466,558,450 Building- 9151: 479,027,784,021 Machinary- 9152: 255,077,576,478 Biological- 9154: 194,083,261 Intangible- 9155: 60,458,670 WIP- 9160: 94,253,206,091 Lease- 9180: 22,190,544,327 Grand Total: 1,355,270,211,298
Opn- Bal Ledger Category Item Code Cln Bal – 2018 Addition During Opn_Bal 2019 Purchase Disposal Balance the Year 9151--> 1.1-Dwellings 61111 23,331,774,000 11,340,776,065 34,672,550,064 200,912,401 349,253,196 34,524,209,269 House Boats ****6111101 30,540,756 -878,656 29,662,100 12,176 12,176 29,662,100 Garages ****6111102 112,955,234 38,547,510 151,502,744 18,900,997 17,777,869 152,625,872 Mobile Home ****6111103 4,420,718 – 4,420,718 0 0 4,420,718 Housing ****6111104 6,925,434,981 108,140,023 7,033,575,004 18,268,512 34,185,000 7,017,658,516 Schemes/ Flats Rest Houses ****6111105 532,290,264 590,610,173 1,122,900,437 0 0 1,122,900,437 Hotels & ****6111106 273,758,874 145,618,765 419,377,639 11,459,806 0 430,837,445 Restaurants Quarters ****6111107 13,641,402,923 9,054,612,898 22,696,015,821 135,520,259 282,966,549 22,548,569,530 Circuit ****6111108 1,810,970,250 1,404,125,351 3,215,095,601 16,750,651 14,311,602 3,217,534,650 Bunglows 9151--> 1.2-Non 61112 260,070,816,054 46,833,606,116 306,904,422,170 23,160,546,938 26,422,781,760 303,642,187,348 Residential Building Office Building ****6111201 111,613,468,128 32,088,035,159 143,701,503,287 15,545,139,867 19,975,122,517 139,271,520,637 Schools ****6111202 43,956,008,220 556,568,116 44,512,576,336 7,459,273,722 5,143,578,734 46,828,271,324 Hospitals ****6111203 92,671,113,586 9,691,125,889 102,362,239,475 64,824,678 0 102,427,064,154 Building ****6111204 1,635,222,287 584,794,079 2,220,016,366 75,898,713 0 2,295,915,079 for Public Entertainment Warehouse ****6111205 1,576,286,151 3,717,018,558 5,293,304,708 10,793,266 340,723,668 4,963,374,306 Airport ****6111206 98,798,720 – 98,798,720 87,575 0 98,886,295 Markets ****6111208 202,618,531 1,991,038 204,609,569 0 0 204,609,569 Laboratories ****6111209 3,203,412,395 174,850,573 3,378,262,969 4,026,838 106,088 3,382,183,719 & Research Stations Factories ****6111210 5,113,888,037 19,222,703 5,133,110,740 502,279 963,250,753 4,170,362,266 9151--> 1.3-Other 61113 140,182,166,163 456,647,234 140,638,813,397 222,825,622 251,615 140,861,387,404 Structure Highways Street ****6111301 51,096,059 1,229,833 52,325,892 766,366 0 53,092,258 Road Bridges ****6111302 320,747 320,747 0 0 320,747 Tunnel ****6111303 4,450,002 – 4,450,002 0 0 4,450,002 Railways ****6111304 139,509,182,135 295,726,256 139,804,908,391 0 0 139,804,908,391 Subways Air Field ****6111305 – 0 358,069 224,069 134,000 Runways Harbors Dams ****6111306 28,612,810 1,220,000 29,832,810 0 0 29,832,810 & Other Water Works Structures ****6111307 4,190,645 42,810,625 47,001,270 96,470 0 47,097,740 Associated with Mining Subsoil Assets Communication ****6111308 79,649,172 27,519,092 107,168,264 1,316,199 0 108,484,463 Line Power Line Financial
& Pipelines Statements
223 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Opn- Bal Ledger Category Item Code Cln Bal – 2018 Addition During Opn_Bal 2019 Purchase Disposal Balance the Year Outdoor Sport ****6111309 302,333,469 3,000 302,336,469 219,725,492 27,547 522,034,414 & Recreation Facilities Sewerage ****6111310 1,008,000 10,405,956 11,413,956 0 0 11,413,956 Treatment Complex Pumping Station ****6111311 129,363,137 61,063,000 190,426,137 563,026 0 190,989,163 Farms and ****6111312 72,280,735 16,348,725 88,629,460 0 0 88,629,460 Agriculture Related Assets 9151-Sub Total 423,584,756,217 58,631,029,414 482,215,785,631 23,584,284,960 26,772,286,571 479,027,784,021 9160--> 1.4-WIP- 61114 88,731,070,407 -427,112,632 88,303,957,775 6,116,326,983 167,078,667 94,253,206,091 Building & Structure WIP-Building & ****611140 32,932,929,752 -9,639,305,848 23,293,623,905 1,749,520,644 181,095 25,042,963,454 Structure House Boats ****611141 1,828,216 1,828,216 0 0 1,828,216 Hospitals ****6111410 883,604,287 310,752,120 1,194,356,406 205,154,721 0 1,399,511,127 Building ****6111411 191,118,405 22,524,817 213,643,222 244,309,034 0 457,952,256 for Public Entertainment Warehouse ****6111412 1,609,939,155 -2,028,465 1,607,910,690 155,729,704 0 1,763,640,394 Airport ****6111413 380,721,537 – 380,721,537 0 0 380,721,537 Markets ****6111415 – 0 3,266,183 0 3,266,183 Laboratories ****6111416 194,979 – 194,979 49,796 0 244,775 & Research Stations Factories ****6111417 – 0 7,363,977 0 7,363,977 Highways Street ****6111418 8,549,653 265,366 8,815,019 595,116 0 9,410,135 Road Bridges ****6111419 – 0 82,460 0 82,460 Garages ****611142 14,950,538 -9,286,325 5,664,213 6,086,436 2,046,317 9,704,332 Railways ****6111421 33,494,812,031 2,487,609,734 35,982,421,765 236,658,106 141,878 36,218,937,993 Subways Air Field ****6111422 3,953,580 – 3,953,580 0 0 3,953,580 Runways Harbors Dams ****6111423 6,626,555 -6,626,555 0 255,670 0 255,670 & Other Water Works Communication ****6111425 – 12,999,069 12,999,069 583,545 0 13,582,614 Line Power Line & Pipelines Outdoor Sport ****6111426 315,992,412 44,984,504 360,976,915 207,985,836 0 568,962,751 & Recreation Facilities Sewerage ****6111427 19,905 – 19,905 0 0 19,905 Treatment Complex Pumping Station ****6111428 1,642,805 – 1,642,805 409,979 0 2,052,784 Farms and ****6111429 2,559,156 – 2,559,156 0 0 2,559,156 Agriculture related Assets Mobile Home ****611143 879,034 1,195,887 2,074,921 0 0 2,074,921 Rest Houses ****6111430 – 0 2,488,956 0 2,488,956 Housing ****611144 – 0 590,589 0 590,589 Schemes/ Flats Hotels & ****611145 2,981,252 – 2,981,252 87,026 0 3,068,278
Financial Restaurants Statements Quarters ****611146 927,280,946 545,743,465 1,473,024,410 579,530,706 0 2,052,555,117
224 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Opn- Bal Ledger Category Item Code Cln Bal – 2018 Addition During Opn_Bal 2019 Purchase Disposal Balance the Year Circuit ****611147 56,063,297 37,765,932 93,829,229 24,460,739 0 118,289,968 Bunglows Office Building ****611148 16,608,692,488 5,473,180,775 22,081,873,263 1,932,659,117 161,599,456 23,852,932,925 Schools ****611149 1,287,558,640 291,284,676 1,578,843,316 758,458,640 3,109,921 2,334,192,035 9160-Sub Total 88,731,070,407 -427,112,632 88,303,957,775 6,116,326,983 167,078,667 94,253,206,091 9152--> 2.1-Transport 61121 137,882,828,743 29,769,654,309 167,652,483,051 3,907,417,372 6,282,429,439 165,277,470,984 Equipment Passenger ****6112101 39,166,354,126 19,909,353,400 59,075,707,526 219,435,467 6,047,078,552 53,248,064,440 Vehicle Cargo Vechicle ****6112102 11,864,430,326 177,434,760 12,041,865,086 13,520,000 18,800,000 12,036,585,086 Agricultural ****6112103 1,430,044,899 200,491,700 1,630,536,599 1,192,197 17,527,688 1,614,201,108 Vehicle Industrial ****6112104 3,235,322,250 1,295,355,242 4,530,677,492 162,695,231 197,137,200 4,496,235,522 Vehicle Ambulance ****6112105 3,708,453,760 315,778,255 4,024,232,015 1,973,502,449 0 5,997,734,464 Ships ****6112106 21,418,825,871 6,403,697,055 27,822,522,926 1,347,879,048 0 29,170,401,974 Railway ****6112107 2,763,308,509 – 2,763,308,509 0 0 2,763,308,509 Locomotives Aircraft ****6112108 53,501,406,740 – 53,501,406,740 0 0 53,501,406,740 Motor Cycle ****6112109 794,682,261 1,467,543,898 2,262,226,159 189,192,981 1,886,000 2,449,533,140 9152--> 2.2-Other 61122 45,951,690,546 37,283,329,197 83,235,019,743 8,091,434,518 1,526,348,768 89,800,105,494 Machinary & Equipment Office ****6112201 4,970,449,368 4,758,523,705 9,728,973,073 843,008,618 433,317,395 10,138,664,297 Equipment Computer ****6112202 5,265,987,086 3,264,037,032 8,530,024,117 1,028,413,386 301,354,835 9,257,082,669 Equipment Electrical ****6112203 4,465,781,010 2,420,939,315 6,886,720,325 790,334,354 101,879,738 7,575,174,942 Equipment Communication ****6112204 2,147,037,846 667,806,450 2,814,844,296 395,061,882 13,412,546 3,196,493,632 Equipment Furniture ****6112205 8,973,853,631 5,872,084,859 14,845,938,490 936,481,502 424,765,025 15,357,654,966 Musical ****6112206 378,284,581 184,202,634 562,487,215 45,768,606 1,131,775 607,124,045 Instruments Medical ****6112207 15,269,338,283 8,910,057,922 24,179,396,205 1,368,821,347 72,029,486 25,476,188,066 Equipment Sports ****6112208 161,865,068 120,123,891 281,988,959 35,543,022 1,566,825 315,965,156 Equipment Paintings ****6112209 853,416 4,703,993 5,557,409 97,200 0 5,654,609 Sculptures & Other Antiques Books Periodical ****6112210 29,494,676 13,032,625 42,527,301 7,206,514 15,020 49,718,795 & Journals Laboratory ****6112211 2,191,908,121 3,407,685,425 5,599,593,546 551,042,824 38,377,804 6,112,258,565 Instruments Industrial & ****6112212 596,229,980 1,200,392,789 1,796,622,770 305,863,966 39,360,134 2,063,126,602 Manufacturing Equipment Construction ****6112213 480,339,205 124,202,413 604,541,618 38,638,458 41,902,715 601,277,361 Equipment Broadcasting ****6112214 301,217,053 46,286,504 347,503,557 17,841,187 2,418,142 362,926,601 Equipment Defence ****6112215 478,110,853 6,156,156,559 6,634,267,412 181,991,976 902,678 6,815,356,711 Equipment Agricultural ****6112216 172,123,924 111,249,261 283,373,185 132,255,405 47,748,406 367,880,185 & Dairy Farm Equipment Financial
Fire Protection ****6112217 68,816,446 21,843,820 90,660,266 1,413,064,269 6,166,245 1,497,558,291 Statements Equipment
225 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Opn- Bal Ledger Category Item Code Cln Bal – 2018 Addition During Opn_Bal 2019 Purchase Disposal Balance the Year 9152-Sub Total 183,834,519,289 67,052,983,506 250,887,502,794 11,998,851,891 7,808,778,207 255,077,576,478 9180--> 2.3-Lease 61123 24,898,590,069 -3,305,276,794 21,593,313,275 598,314,609 1,083,558 22,190,544,327 Asset Lease-Passenger ****6112301 7,557,194,100 -3,218,426,794 4,338,767,306 268,219,393 1,083,558 4,605,903,141 Vehicle Lease- Cargo ****6112302 86,850,000 -86,850,000 0 174,900,000 0 174,900,000 Vechicle Lease-Motor ****6112309 17,254,545,969 0 17,254,545,969 155,195,216 0 17,409,741,185 Cycle 9180-Sub Total 24,898,590,069 -3,305,276,794 21,593,313,275 598,314,609 1,083,558 22,190,544,327 9155--> 5.2 Other 61132 60,458,670 60,458,670 0 0 60,458,670 Non Finacial- Biological Biological ****6113201 60,458,670 60,458,670 0 0 60,458,670 Assets 9155-Sub Total 60,458,670 60,458,670 0 0 60,458,670 9154--> 5.3 Other 61133 112,511,799 112,511,799 168,363,733 86,792,271 194,083,261 Non Finacial- Intangible Computer ****6113301 112,511,799 112,511,799 166,678,861 85,252,292 193,938,368 Software Patents & ****6113303 – 0 101,625 101,625 0 Copyrights Broadcast ****6113305 – 0 141,643 0 141,643 Rights Service ****6113306 – 0 1,441,604 1,438,354 3,250 Contracts 9154-Sub Total 112,511,799 112,511,799 168,363,733 86,792,271 194,083,261 9153--> 4.1-Land 61410 290,117,645,607 82,402,218,385 372,519,863,992 1,243,778,534 2,231,032,089 371,532,610,436 Land ****614100 290,117,645,607 82,402,218,385 372,519,863,992 1,243,778,534 2,231,032,089 371,532,610,436 9153--> 4.1-Urban or 61411 44,136,083,250 7,884,070,712 52,020,153,962 0 0 52,020,153,962 Built-Up Land Commercial and ****6141101 2,881,230,400 148,830,000 3,030,060,400 0 0 3,030,060,400 Services Mixed Urban ****6141104 41,254,852,850 7,735,240,712 48,990,093,562 0 0 48,990,093,562 9153--> Water 61414 31,934,524,202 43,784,643,488 75,719,167,690 5,036,477,472 2,286,110 80,753,359,051 Streams and ****6141401 5,847,392,071 15,735,850,000 21,583,242,071 0 0 21,583,242,071 Canals Lakes ****6141402 132,000,000 617,000,000 749,000,000 0 0 749,000,000 Reservoirs ****6141403 25,954,253,547 27,432,077,930 53,386,331,477 5,036,382,922 2,286,110 58,420,428,288 Bays and ****6141404 878,584 -284,442 594,142 94,550 0 688,692 Estuaries 9153--> Barren Land 61416 160,435,000 – 160,435,000 0 0 160,435,000 Sandy Areas ****6141603 160,435,000 – 160,435,000 0 0 160,435,000 Other than Beaches 9153-Sub Total 366,348,688,059 134,070,932,585 500,419,620,644 6,280,256,006 2,233,318,199 504,466,558,450 Grant Total 1,087,397,624,041 256,195,526,548 1,343,593,150,588 48,746,398,182 37,069,337,473 1,355,270,211,298 Financial Statements
226 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Actual 2019 2018 Rs. Rs. NOTE – 17 ADVANCES TO PUBLIC OFFICERS Advances to Public Officers Transferred to Provincial Councils (7004) 191,466,910 191,466,910 Advances to Public Officers of the Central Government (8493) 31,950,774,124 30,779,249,178 32,142,241,034 30,970,716,088
NOTE – 18 ADVANCES TO GOVERNMENT DEPARTMENTS Treasury Authorized Advance Account (7000) 15,802,235,220 15,303,986,669 15,802,235,220 15,303,986,669
NOTE – 19 MEMBERSHIP FEES PAID International Monetary Institutions Membership Fees (8234) and (8339) 1,268,673,389 1,885,484,942 Foreign Aid Counterpart Fund – Grants (8317) 1,631,694,933 1,631,694,933 2,900,368,322 3,517,179,875 Financial Statements
227 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
NOTE – 20 – ON LENDING Amount Balance as at Balance as at New Loan Settled During 31.12.2019 S.No. Name of the Institution 01.01.2019 During 2019 2019 Rs. Rs. Rs. Rs.
1 Sri Lanka Ports Authority 54,646,464,095 – 5,987,849,177 59,790,932,868
Add / (Less) : Parity Variance 11,132,317,951 -314,151,644
Balance 65,778,782,045 – 5,987,849,177 59,476,781,224
2 Development Finance Corporation of Ceylon 22,751,090,335 1,219,219,908 2,574,014,880 21,735,149,543
Add / (Less) : Parity Variance/Adjustment 526,492,627 -82,965,136
Less: Revolving Recoveries/ Disbursement -187,638,447 -50,363,482
Balance 23,089,944,515 1,219,219,908 2,574,014,880 21,601,820,925
3 Regional Development Bank (Lankaputhra Dev. 2,701,800,315 – 174,547,085 3,020,208,699 Bank)
Add / (Less) : Parity Variance 492,955,468 -28,697,005
Balance 3,194,755,783 - 174,547,085 2,991,511,693
4 People's Bank 2,129,227,488 596,285,000 177,158,849 2,432,263,220
Add / (Less) : Parity Variance/Adjustment -24,192,401 363,310
Less: Revolving Recoveries/ Disbursement -91,898,020 -134,493,711
Balance 2,013,137,068 596,285,000 177,158,849 2,298,132,818
5 National Development Bank 7,692,153,298 1,452,387,393 1,420,058,229 7,634,721,006
Add / (Less) : Parity Variance/Adjustment – –
Less: Revolving Recoveries/ Disbursement -89,761,456 -188,588,475
Balance 7,602,391,842 1,452,387,393 1,420,058,229 7,446,132,531
6 NLDB (National Livestock Development Board) 5,226,174,301 – – 6,221,555,871
Add / (Less) : Parity Variance/Adjustment 995,381,570 -46,147,978
Balance 6,221,555,871 – – 6,175,407,893
7 Colombo Municipal Council 1,668,408,268 335,307,126 93,678,196 1,556,224,014
Add / (Less) : Parity Variance/Adjustment -353,813,183 -2,898,174
Balance 1,314,595,084 335,307,126 93,678,196 1,553,325,840
8 National Water Supply & Drainage Board 20,679,147 21,292,015 47,112,865
Add / (Less) : Parity Variance/Adjustment 5,141,703 -10,502,895
Balance 25,820,850 21,292,015 – 36,609,970
9 MILCO (Pvt) Ltd 6,599,593,266 – – 7,975,582,058
Add / (Less) : Parity Variance/Adjustment 1,375,988,792 -59,158,351
Balance 7,975,582,058 - – 7,916,423,707
10 Sampath Bank Ltd. 4,451,174,367 1,285,010,038 411,370,702 5,068,664,793
Add / (Less) : Parity Variance/Adjustment – – – -3
Less: Revolving Recoveries/ Disbursement -256,148,911 -274,672,141
Balance 4,195,025,457 1,285,010,038 411,370,702 4,793,992,649 Financial Statements
228 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
NOTE – 20 – ON LENDING Amount Balance as at Balance as at New Loan Settled During 31.12.2019 S.No. Name of the Institution 01.01.2019 During 2019 2019 Rs. Rs. Rs. Rs.
11 Hatton National Bank PLC 4,141,642,507 1,194,295,021 326,789,954 4,817,023,385
Add / (Less) : Parity Variance/Adjustment – 9
Less: Revolving Recoveries/ Disbursement -192,124,190 -183,469,340
Balance 3,949,518,317 1,194,295,021 326,789,954 4,633,554,053
12 Commercial Bank of Ceylon PLC 6,908,437,111 1,401,437,437 515,370,597 7,622,203,868
Add / (Less) : Parity Variance/Adjustment 43,666,150 – – -2,024,454
Less: Revolving Recoveries/ Disbursement -215,966,233 -244,439,542
Balance 6,736,137,028 1,401,437,437 515,370,597 7,375,739,872
13 Nations Trust Bank 1,280,332,951 539,655,000 82,964 1,819,904,988
Less: Revolving Recoveries/ Disbursement – –
Balance 1,280,332,951 539,655,000 82,964 1,819,904,988
14 Seylan Bank PLC 2,144,868,613 666,921,600 23,684,241 2,616,494,268
Less: Revolving Recoveries/ Disbursement -171,611,704 -208,651,962
Balance 1,973,256,909 666,921,600 23,684,241 2,407,842,306
15 Sri Lanka Savings Bank 1,330,132,282 – 821,858,133 508,274,149
Add / (Less) : Parity Variance/Adjustment -90
Balance 1,330,132,282 – 821,858,133 508,274,059
16 Ceylon Petroleum Corporation 151,918,779 – 37,979,695 113,939,085
17 Sarvodaya Economic & Enterprises Dev. Service 633,395,760 – – 633,395,760
18 Local Loan Development Fund 5,044,048,790 – 156,803,784 4,887,245,005
19 Lanka Orix Leasing Co. Ltd. 201,323,456 – 60,062,304 18,167,374
Add / (Less) : Parity Variance/Adjustment -91,653,222 – – -0
Less: Revolving Recoveries/ Disbursement -31,440,557 -17,637,724
Balance 78,229,677 - 60,062,304 529,649
20 Bank of Ceylon 2,346,016,784 915,741,436 122,700,317 3,085,474,715
Add / (Less) : Parity Variance/Adjustment – – – –
Less: Revolving Recoveries/ Disbursement -53,583,189 -55,180,064
Balance 2,292,433,595 915,741,436 122,700,317 3,030,294,650
21 Urban Development Authority 276,749,960 – 275,578,711 1,171,249
Add / (Less) : Parity Variance/Adjustment -1,171,249
Balance 276,749,960 – 275,578,711 -0
22 Ceylinco Leasing Company Ltd. 7,324,838 – 7,324,839 -0
23 People's Leasing Company Ltd 36,166,256 – – 10,649,145
Add / (Less) : Parity Variance/Adjustment – – – –
Less: Revolving Recoveries/ Disbursement -25,517,111 -6,812,297 Financial
Balance 10,649,145 - – 3,836,849 Statements
229 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
NOTE – 20 – ON LENDING Amount Balance as at Balance as at New Loan Settled During 31.12.2019 S.No. Name of the Institution 01.01.2019 During 2019 2019 Rs. Rs. Rs. Rs.
24 Regional Development Bank (Kandurata) 12,391,545 – – 11,790,293
Add / (Less) : Parity Variance/Adjustment 3,423,617 – – –
Less: Revolving Recoveries/ Disbursement -4,024,869 -2,798,645
Balance 11,790,293 – – 8,991,648
25 Distance Learning Centre Ltd 1,603,080 – 1,603,080 -0
26 Central Bank of Sri Lanka (EIB B) 8,571,000 – 8,571,000 –
27 Sanasa Development Bank (IFAD 283) 12,056,479 – – 12,056,479
Add / (Less) : Parity Variance/Adjustment -942,000
Balance 12,056,479 - – 11,114,479
28 Sanasa Development Bank 495,061,988 69,320,000 3,854,488 503,440,500
Add / (Less) : Parity Variance/Adjustment 800 –
Less: Revolving Recoveries/ Disbursement -57,087,800 -63,549,800
Balance 437,974,988 69,320,000 3,854,488 439,890,700
29 Regional Development Bank 3,508,269,571 856,919,687 88,721,382 4,075,936,587
Less: Revolving Recoveries/ Disbursement -200,531,288 -204,607,817
Balance 3,307,738,282 856,919,687 88,721,382 3,871,328,770
30 Min.of Agricultural Dev. Agrarian Services 3,236,442,070 – 2,041,367 3,234,400,703
31 Alliance Finance Company Ltd. 77,396,495 – 15,509,909 61,886,587
Add / (Less) : Parity Variance/Adjustment – 5
Balance 77,396,495 – 15,509,909 61,886,591
32 Revolving Funds with Central Bank of Sri Lanka 15,496,324,208 887,486,030 3,587,182,609 14,714,354,422
Add: Parity Variance/ Adjustment 340,393,019 – 268,075,811
Add: Revolving Recoveries/ Disbursement 1,577,333,774 1,635,265,000
Balance 17,414,051,001 887,486,030 3,587,182,609 16,617,695,233
33 HDFC / NHDA 169,925,442 – 17,402,911 152,522,531
34 Airport & Aviation Services (Sri Lanka) Ltd 9,274,906,835 – 972,293,316 10,367,080,596
Add / (Less) : Parity Variance/Adjustment 2,064,467,077 – – 74,122,701
Balance 11,339,373,912 – 972,293,316 10,441,203,297
On Lending Based on Foreign Aids 181,192,641,649 11,441,277,691 17,884,092,718 174,543,729,479
35 Local Loans & Development Fund 150,268,321 – 21,106,632 129,161,689
36 Sri Lanka Rubber Manufacture & Dev. 773,340,000 – – 773,340,000 Corporation
37 Sri Lanka Handicraft Development Board 567,500 – 567,500 –
38 Other Local Loan(NLDB & Lady Lahore) 50,000,000 – – 50,000,000
39 AHF Loan Scheme 2004/2005 306,871,170 – 191,819,536 115,051,635
Financial 40 Min. of Petroleum & Pet.Resos. Dev. 272,510,994 – 23,828,433 248,682,561 Statements 41 Department of Treasury Operations – (PLGF) 916,231,000 – – 916,231,000
230 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
NOTE – 20 – ON LENDING Amount Balance as at Balance as at New Loan Settled During 31.12.2019 S.No. Name of the Institution 01.01.2019 During 2019 2019 Rs. Rs. Rs. Rs.
42 Ceylon Ceramic Corporations 8,676,923 – 8,676,923 –
43 Ceylon Fisheries Corporations 50,000,000 – – 50,000,000
44 Ceylon Fisheries Corporations 11,600,000 – – 11,600,000
45 Ceylon Fisheries Corporations 50,000,000 – – 50,000,000
46 National Paper Company Ltd 50,000,000 – 50,000,000 –
47 Central Bank – SEPI Loan Scheme 328,081,387 24,894,028 91,257,538 261,717,877
On Lending Based on Domestic Funds 2,968,147,295 24,894,028 387,256,561 2,605,784,761
Total (Before Parity Variance/Adjustment) 167,529,519,309 11,466,171,718 18,271,349,279 177,608,536,108
Total Parity Variance 16,631,269,635 – – -459,021,868
Total (After Parity Variance/Adjustment) 184,160,788,945 11,466,171,718 18,271,349,279 177,149,514,240 Financial Statements
231 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
NOTE – 21 – CAPITAL CONTRIBUTION / SHAREHOLDING IN THE COMMERCIAL PUBLIC CORPORATIONS/ STATE OWNED COMPANIES / PLANTATIONS COMPANIES / DEVELOPMENT BANKS (8468 / 8548) Additions/ Reductions/ Balance as at Balance as at Adjustments Adjustments 01.01.2019 31.12.2019 in 2019 in 2019 Rs. Rs. Rs. Rs. Note – 21.1 (a) Capital Contribution in Commercial Public 463,353,225,830 24,968,979,748 – 488,322,205,577 Corporations Note – 21.1 (b) Contribution to the Central Bank of Sri Lanka 15,000,000 – – 15,000,000 Note – 21.2 Shareholdings in Government Owned or Other 113,657,907,882 203,240 822,010,930 112,836,100,192 Companies Note – 21–3 Shareholdings in Plantation Companies 1,677,234,650 40 – 1,677,234,690 Note – 21.4 Shareholdings in Companies in Dollar Denomination 1,567,846,135 – 11,499,490 1,556,346,645 Note – 21.5 Shareholdings in Development Banks 7,049,418,322 4,176,292,999 3,671,971,612 7,553,739,709 Total 587,320,632,819 29,145,476,027 4,505,482,032 611,960,626,814
NOTE – 21.1 (a) – CAPITAL CONTRIBUTION IN COMMERCIAL PUBLIC CORPORATION Additions/ Deduction/ Balance as at Balance as at Adjustment in Adjustment in 01.01.2019 31.12.2019 2019 2019 Rs. Rs. Rs. Rs. 1 Agriculture and Agrarian Insurance Board 50,000,000 – – 50,000,000 2 Bank of Ceylon 25,000,000,000 – – 25,000,000,000 3 Central Engineering Consultancy Bureau 500,000 – – 500,000 4 Ceylon Ceramic Corporation 2,640,000 – – 2,640,000 5 Ceylon Electricity Board 302,694,796,682 20,499,241,722 – 323,194,038,404 6 Ceylon Fisheries Corporation 326,609,805 – – 326,609,805 7 Ceylon Fishery Harbours Corporation 350,099,843 – – 350,099,843 8 Ceylon Petroleum Corporation 28,487,125,000 – – 28,487,125,000 9 Coconut Development Authority 88,943,221 – – 88,943,221 10 Condominium Management Authority 500,000 – – 500,000 11 Co-operative Wholesale Establishment 4,398,056,590 – – 4,398,056,590 12 Export Development Board 10,014,284 – – 10,014,284 13 Geological Survey and Mines Bureau 98,316,264 – – 98,316,264 14 Janatha Estates Development Board 3,670,000,000 – – 3,670,000,000 15 National Gem & Jewelry Authority 30,000,000 – – 30,000,000 16 National Transport Medical Institute 62,099,697 – – 62,099,697 17 National Films Corporation of Sri Lanka 10,000,000 – – 10,000,000 18 National Institute of Business Management 57,175,766 – – 57,175,766 19 National Livestock Development Board 576,587,649 – – 576,587,649 20 National Lotteries Board 21,263,100 – – 21,263,100 21 National Savings Bank 9,400,000,000 – – 9,400,000,000 22 National Water Supply & Drainage Board 54,937,651,218 4,411,235,996 – 59,348,887,214 23 National Housing Development Authority 40,000,000 – – 40,000,000 24 People's Bank 12,198,133,000 – – 12,198,133,000 25 Paddy Marketing Board 631,484,518 – – 631,484,518 26 Sri Jayewardenapura General Hospital 1,016,825,162 – – 1,016,825,162 27 Sri Lanka Bureau of Foreign Employment 632,659,759 58,502,030 – 691,161,789 28 Sri Lanka Institute of Hotel Management 454,850,952 – – 454,850,952 29 Sri Lanka Ayurvedic Drugs Corporation 5,000,000 – – 5,000,000 30 Sri Lanka Broadcasting Corporation 307,386,085 – – 307,386,085 31 Sri Lanka Cashew Corporation 427,287,074 – – 427,287,074 32 Sri Lanka Cement Corporation 966,971,844 – – 966,971,844 33 Sri Lanka Transport Board 3,944,890,550 – – 3,944,890,550 34 Sri Lanka Export Credit Insurance Corporation 40,000,000 – – 40,000,000 35 Sri Lanka Handicraft Board 69,629,000 – – 69,629,000 36 Sri Lanka Land Reclamation & Development 1,000,000 – – 1,000,000 Corporation 37 Sri Lanka Ports Authority 7,535,916,027 – – 7,535,916,027 38 Sri Lanka Rupavahini Corporation 537,743,000 – – 537,743,000 39 Sri Lanka Tourism Promotion Bureau 33,069,157 – – 33,069,157
Financial 40 Sri Lanka Tea Board 672,012,202 – – 672,012,202 Statements 41 State Development & Construction Corporation 16,671,650 – – 16,671,650
232 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Additions/ Deduction/ Balance as at Balance as at Name Adjustment in Adjustment in 01.01.2019 31.12.2019 2019 2019 Rs. Rs. Rs. Rs. 42 State Engineering Corporation of Sri Lanka 70,000,000 – – 70,000,000 43 State Mortgage & Investment Bank 889,813,000 – – 889,813,000 44 State Pharmaceuticals Corporation of Sri Lanka 59,055,258 – – 59,055,258 45 State Pharmaceuticals Manufacturing Corporation 690,079,000 – – 690,079,000 46 State Printing Corporation 15,000,000 – – 15,000,000 47 State Timber Corporation 41,503,668 – – 41,503,668 48 Telecommunication Regulatory Commission 526,214,744 – – 526,214,744 49 Urban Development Authority 1,257,651,060 – – 1,257,651,060 Total (21.1) 463,353,225,830 24,968,979,748 – 488,322,205,577
NOTE – 21.1 (b) – CENTRAL BANK OF SRI LANKA Reduction/ Additions/ Balance as at Adjustment Balance as at Name Adjustment in 01.01.2019 i n 31.12.2019 2019 2019 Rs. Rs. Rs. Rs. 1 Central Bank of Sri Lanka 15,000,000 – – 15,000,000
NOTE – 21.2 – SHAREHOLDING IN STATE OWNED OR OTHER COMPANIES Number of Shares Nominal Value of the Value of the Percentage Value per Investment as at Investment as at of Share Company Additions/ Deductions/ As at 01.01.2019 As at 31.12.2019 Share 01.01.2019 31.12.2019 holdings by Adjustments Adjustments Rs. Rs. Rs. the Treasury
Airport & Aviation 1 Services (Sri Lanka) 200,000 – – 200,000 100.00 20,000,000 20,000,000 98.00 Ltd 2 BCC Lanka Ltd. 10,000,000 – – 10,000,000 10.00 100,000,000 100,000,000 100.00 Bogala Graphite 3 254,500 – – 254,500 10.00 2,545,000 2,545,000 0.54 Lanka PLC 254,500 – – 254,500 0.46 118,331 118,331 Lanka Building 4 Materials Corporation 1,000,000 – – 1,000,000 10.00 10,000,000 10,000,000 100.00 Ltd. Ceylon Agro- 5 11,903,402 – – 11,903,402 5.00 59,517,010 59,517,010 5.62 Industries Ltd. Ceylon Fertilizer Co. 6 50,245,608 – – 50,245,608 10.00 502,456,080 502,456,080 100.00 Ltd. Ceylon Hotels Corporation PLC 7 1,200,000 – – 1,200,000 2.00 2,400,000 2,400,000 2.00 (Preference Shares Only) Ceylon Shipping 8 5,000,000 – – 5,000,000 10.00 50,000,000 50,000,000 100.00 Corporation Ltd. Ceylon Shipping 9 156,493 – 156,493 – 10.00 1,564,930 – - Lines Ltd Cey-Nor Foundation 10 4,000,000 – – 4,000,000 10.00 40,000,000 40,000,000 100.00 Ltd. Colombo Commercial 11 10,000,000 – – 10,000,000 10.00 100,000,000 100,000,000 100.00 Fertilizer Ltd. Commercial Bank of 12 30,501 2,154 – 32,655 5.00 152,505 163,275 0.0037 Ceylon PLC 3,164 – – 3,164 113.60 359,430 359,430 Cultural Publication 13 600 – – 600 100.00 60,000 60,000 - Company Ltd. CWG Hambanthota 14 10,000,000 – – 10,000,000 10.00 100,000,000 100,000,000 79.00 2018 Distance Learning 15 14,206,509 – – 14,206,509 10.00 142,065,090 142,065,090 99.99 Center Ltd
Galadari Hotels Financial
16 292,200 – – 292,200 10.00 2,922,000 2,922,000 0.058 Statements (Lanka) PLC
233 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
NOTE – 21.2 – SHAREHOLDING IN STATE OWNED OR OTHER COMPANIES Number of Shares Nominal Value of the Value of the Percentage Value per Investment as at Investment as at of Share Company Additions/ Deductions/ As at 01.01.2019 As at 31.12.2019 Share 01.01.2019 31.12.2019 holdings by Adjustments Adjustments Rs. Rs. Rs. the Treasury
Hotel Developers 17 2,046,645,686 – – 2,046,645,686 10.00 20,466,456,860 20,466,456,860 100.00 (Lanka) PLC Human Resources 18 Services Agency – – – – 5,000,000 5,000,000 100.00 (Guarantee) Ltd. Kigsbury PLC (Hotel 19 2,263 – – 2,263 10.00 22,630 22,630 0.0128 Services Ltd) Hunas Falls Hotels 20 1 – – 1 10.00 10 10 - PLC Independent Television 21 9,500,000 – – 9,500,000 10.00 95,000,000 95,000,000 100.00 Network Ltd. Information & Communication 22 2 – – 2 10.00 20 20 100.00 Technology Agency of Sri Lanka (Pvt) Ltd. Kahatagaha Grafite 23 1,300,000 – – 1,300,000 10.00 13,000,000 13,000,000 100.00 Lanka Ltd. Kalubowitiyana Tea 24 4,637,500 – – 4,637,500 10.00 46,375,000 46,375,000 99.90 Factory Ltd. Kantale Sugar 25 2,689,993 – – 2,689,993 100.00 268,999,300 268,999,300 100.00 Industries Ltd. Lafarge Mahaweli 26 480,000 – – 480,000 10.00 4,800,000 4,800,000 10.00 Cement (Pvt) Ltd. Laxapana Batteries PLC – (Elephant Lite 27 Corporation Ltd) 1,000 – – 1,000 10.00 10,000 10,000 5.00 (5% Cumulative Preference Shares) 28 Lanka Canneries Ltd. 40,002 – – 40,002 100.00 4,000,200 4,000,200 9.09 29 Lanka Cement Ltd. 22,246,000 – – 22,246,000 10.00 222,460,000 222,460,000 13.00 Lanka Coal Company 30 400,000 – – 400,000 10.00 4,000,000 4,000,000 20.00 (Pvt) Ltd. Lanka Electricity 31 49,880,000 – – 49,880,000 10.00 498,800,000 498,800,000 43.56 Company (Pvt) Ltd. Lakdiwa Engineering 32 2 – – 2 10.00 20 20 100.00 Company (Pvt) Ltd. 33 Lanka Fabrics Ltd. 210,000 – – 210,000 10.00 2,100,000 2,100,000 93.30 Lanka Hydraulic 34 50,000 – – 50,000 10.00 500,000 500,000 4.54 Institute Ltd. Lanka Industrial 35 7,800,000 – – 7,800,000 10.00 78,000,000 78,000,000 48.84 Estates Ltd. 36 Lanka Leyland (Pvt) Ltd 1,289,900 – – 1,289,900 6.94 8,951,906 8,951,906 100.00 860,000 – – 860,000 0.01 8,600 8,600 Lanka Logistics and 37 800,205 – – 800,205 10.00 80,002,050 80,002,050 100.00 Technologies Ltd. 38 Lanka Mineral Sands Ltd. 80,000,000 – – 80,000,000 10.00 800,000,000 800,000,000 100.00 Lanka Phosphate 39 7,251,000 – – 7,251,000 10.00 72,510,000 72,510,000 100.00 Limited Lanka STC General 40 10,000,000 – – 10,000,000 10.00 100,000,000 100,000,000 100.00 Trading Co. Ltd. Lanka Textile Mills 41 700,000 – – 700,000 10.00 7,000,000 7,000,000 - Emporium Ltd. 42 Lanka Sathosa Ltd. 87,095,381 – – 87,095,381 10.00 870,953,810 870,953,810 98.00 43 Mantai Salt Ltd. 300,000 – – 300,000 100.00 30,000,000 30,000,000 100.00 44 Mihin Lanka (Private) Ltd 51,406,108 – – 51,406,108 100.00 14,476,251,900 14,476,251,900 100.00 MILCO (Pvt) Ltd – 45 31,945,403 – – 31,945,403 10.00 319,454,030 319,454,030 99.99 Kiriya Milk Industries National Paper 46 32,300,000 – – 32,300,000 10.00 323,000,000 323,000,000 100.00 Company Ltd Financial
Statements National Development 47 552,186 19,247 – 571,433 10.00 5,521,860 5,714,330 0.27 Bank PLC
234 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
NOTE – 21.2 – SHAREHOLDING IN STATE OWNED OR OTHER COMPANIES Number of Shares Nominal Value of the Value of the Percentage Value per Investment as at Investment as at of Share Company Additions/ Deductions/ As at 01.01.2019 As at 31.12.2019 Share 01.01.2019 31.12.2019 holdings by Adjustments Adjustments Rs. Rs. Rs. the Treasury
Dufry Shops Colombo 48 Ltd.(World Duty Free 1,048 – – 1,048 10.00 10,480 10,480 0.035 Group Lanka Ltd.) Paranthan Chemicals 49 4,000,000 – – 4,000,000 10.00 40,000,000 40,000,000 100.00 Company Ltd. Rakna Arakshaka 50 500,205 – – 500,205 10.00 5,002,050 5,002,050 100.00 Lanka Ltd. 51 Rajarata Food Grain Ltd. 386,249 – – 386,249 10.00 3,862,490 3,862,490 - Skills Development 52 10,000,001 – – 10,000,001 10.00 100,000,010 100,000,010 98.00 Fund Ltd. Sri Lanka Insurance 53 599,568,144 – – 599,568,144 10.00 5,995,681,440 5,995,681,440 99.93 Corporation Ltd. Sri Lanka Rubber 54 Manufacturing & Export 7,798,000 – – 7,798,000 10.00 77,980,000 77,980,000 100.00 Corporation Ltd. Sri Lanka Savings 55 8,204,460 – 8,204,460 – 100.00 820,446,000 – – Bank Ltd. Sri Lanka Telecom 56 893,405,709 – – 893,405,709 10.00 8,934,057,090 8,934,057,090 49.50 PLC Sri Lankan Airlines 57 511,574,169 – – 511,574,169 100.00 51,157,416,900 51,157,416,900 99.11 Ltd. State Resource 58 Management 4,100,000 – – 4,100,000 10.00 41,000,000 41,000,000 100.00 Corporation Ltd. 59 Sri Lanka Thriposha Ltd. 30,460,000 – – 30,460,000 10.00 304,600,000 304,600,000 100.00 Selinsing PLC (The 60 Selinsing Company 615 – – 615 10.00 6,150 6,150 0.0108 Ltd.) De La Rue Lanka 61 Currency & Security 2,800,000 – – 2,800,000 10.00 28,000,000 28,000,000 40.00 Print (Pvt) Ltd. Wakers & Greig 62 2,850 – – 2,850 2.00 5,700 5,700 - Limited 100 – – 100 10.00 1,000 1,000 - West Coast Power 63 55,000,000 – – 55,000,000 112.95 6,212,500,000 6,212,500,000 50.00 (Pvt) Ltd (Ordinary) Total 4,696,931,659 21,401 8,360,953 4,688,592,107 113,657,907,882 112,836,100,192 Financial Statements
235 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
NOTE – 21.3 – SHAREHOLDING IN PLANTATION COMPANIES Number of Shares Value of the Value of the Percentage Nominal Investment Investment of Share Value Per Company at Cost as at at Cost as at holdings As at Additions/ Deductions/ As at Share 01.01.2019 31.12.2019 by the 01.01.2019 Adjustment Adjustment 31.12.2019 (Rs.) (Rs.) (Rs.) Treasury 1 Agaraptana Plantations Ltd. 23,284,644 1 – 23,284,645 10.00 232,846,440 232,846,450 9.91 2 Agalawatta Plantations PLC 741 1 – 742 10.00 7,410 7,420 0.003 3 Bogawantalawa Tea Estates PLC 21,664 – – 21,664 6.67 144,430 144,430 0.026 4 Balangoda Plantations PLC 4,761 – – 4,761 10.00 47,610 47,610 0.02 5 Chilaw Plantations Ltd. 20,000,001 – – 20,000,001 10.00 200,000,010 200,000,010 100.00 6 Elkaduwa Plantations Ltd. 18,000,001 – – 18,000,001 10.00 180,000,010 180,000,010 100.00 7 Elpitiya Plantations PLC 15,613,092 – – 15,613,092 5.00 78,065,460 78,065,460 21.43 8 Gal-Oya Plantations (Pvt) Ltd. 51,600,000 – – 51,600,000 10.00 516,000,000 516,000,000 51.00 9 Hapugastenne Plantations PLC 1 – – 1 10.00 10 10 - 10 Horana Plantations PLC 5,889 – – 5,889 10.00 58,890 58,890 0.023 11 Kahawatte Plantations PLC 1 – – 1 10.00 10 10 - 12 Kegalle Plantations PLC 4,387 – – 4,387 10.00 43,870 43,870 0.02 13 Kelani Valley Plantations PLC 1 – – 1 10.00 10 10 - 14 Kotagala Plantations PLC 3,800,557 1,900,276 – 5,700,833 10.00 38,005,570 38,005,570 7.58 15 Kurunegala Plantations Ltd. 20,000,001 – – 20,000,001 10.00 200,000,010 200,000,010 100.00 16 Madulsima Plantations PLC 3,805,653 – – 3,805,653 10.00 38,056,530 38,056,530 2.25 17 Malwatta Valley Plantations PLC 1 1 – 2 10.00 10 20 - 18 Maskeliya Plantations PLC 9,008 – – 9,008 10.00 90,080 90,080 0.017 19 Maturata Plantations Ltd. 7,806,020 1 – 7,806,021 10.00 78,060,200 78,060,210 22.30 20 Namunukula Plantations PLC 3,763,301 – – 3,763,301 10.00 37,633,010 37,633,010 15.85 21 Pussellawa Plantations Ltd. 7,816,790 – – 7,816,790 10.00 78,171,230 78,171,230 32.80 22 Talawakelle Tea Estates PLC 368 – – 368 10.00 3,680 3,680 0.0015 23 Udapussellawa Plantations PLC 1 – – 1 10.00 10 10 - 24 Watawala Plantations PLC 151 – – 151 10.00 160 160 - Total 175,537,034 1,900,280 – 177,437,314 1,677,234,650 1,677,234,690
NOTE – 21.4 – SHAREHOLDING IN COMPANIES IN US DOLLAR DENOMINATION Number of Shares Value of the Value of the Percentage Nominal Investment Investment of Share Company Value per As at Additions/ Deductions/ As at at cost as at at cost as at holdings by Share 01.01.2019 Adjustment Adjustment 31.12.2019 01–01–2019 31.12.2019 the Treasury (Rs) (Rs) (Rs) (Rs) 1 Asian 980 980 US$1000 180,996,200 179,663,400 Reinsurance Corporation 2 Ceylon Shipping 24,500 24,500 1(Singapore 3,337,145 3,358,215 99.00 Agency Dollar) 3 International 7,491 7,491 US$1000 1,383,512,790 1,373,325,030 Finance Corporation Total 32,971 – 32,971 1,567,846,135 1,556,346,645
Exchange Rate (Buying Rate) as at 01.01.2019/ 31.12.2019 Currency 01.01.2019 31.12.2019 Rate Rate US Dollar 184.69 183.33 Singapore Dollar 136.21 137.07 Financial Statements
236 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
NOTE – 21.5 – SHAREHOLDING IN DEVELOPMENT BANKS Number of Shares Value of the Value of the Percentage Nominal Investment Investment of Share Value per Company at cost as at at cost as at holdings As at Additions/ Deductions/ As at Share 01–01–2019 31.12.2019 by the 01.01.2019 Adjustment Adjustment 31.12.2019 (Rs.) (Rs.) (Rs.) Treasury
1 Pradeshiya Sanwardhana 337,744,671 – – 337,744,671 10.00 3,377,446,710 3,377,446,710 87.00 Bank – 158,013,356 – 158,013,356 26.43 – 4,176,292,999 2 Lankaputhra Development 15,000,000 – 15,000,000 – 100.00 1,500,000,000 – Bank 3 Lankaputhra Development 21,071,022 – 21,071,022 – 103.07 2,171,971,612 – Bank Total 373,815,693 158,013,356 36,071,022 495,758,027 7,049,418,322 7,553,739,709
NOTES – 21.2, 21.3, 21.4, 21.5 – SUMMARY Nominal Value Number of of Shares as Company Shares at 31.12.2019 (Rs.) 1 General 4,688,592,107 112,836,100,192 2 Plantation 177,437,314 1,677,234,690 3 Shares in Dollar Value 32,971 1,556,346,645 4 Development Banks 495,758,027 7,553,739,709 Total 5,361,820,419 123,623,421,236 Financial Statements
237 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Closing Balance 9188–157–0–1–0–1–0 Rent – 389,975 – 389,975 Department of Sports DevelopmentDepartment of 9188–219–0–2–0–21–0 Mobilization – 10,000,000 – 10,000,000 Department of Sports DevelopmentDepartment of 9188–219–0–2–0–2–0 Mobilization 14,557,933 – 3,984,278 10,573,655 Department of Sports DevelopmentDepartment of 9188–219–0–2–0–19–0 Mobilization – 11,671,710 – 11,671,710 Department of Sports DevelopmentDepartment of 9188–219–0–2–0–18–0 Mobilization – 14,503,280 – 14,503,280 Department of Sports DevelopmentDepartment of 9188–219–0–2–0–17–0 Mobilization 2,000,000 – 2,000,000 – Department of Sports DevelopmentDepartment of 9188–219–0–2–0–14–0 Mobilization 14,603,935 – 2,786,692 11,817,243 Department of Sports DevelopmentDepartment of 9188–219–0–2–0–11–0 Mobilization 2,207,189 – 1,919,295 287,894 Department of Sports DevelopmentDepartment of 9188–219–0–2–0–26–0 Mobilization – 3,678,781 – 3,678,781 Department of Sports DevelopmentDepartment of 9188–219–0–2–0–28–0 Mobilization – 5,295,225 – 5,295,225 Ministry of Telecommunication, Foreign Employnment and Export Employnment Foreign Telecommunication, Ministry of 9188–194–0–2–0–2–0 Mobilization – 7,839,024 7,839,024 – Ministry of Telecommunication, Foreign Employnment and Export Employnment Foreign Telecommunication, Ministry of 9188–194–0–2–0–1–0 Mobilization – 19,630,414 19,630,414 – Ministry of Mega Police and Western DevelopmentWestern and Mega Police Ministry of 9188–162–0–2–0–3–0 Mobilization – – – – Ministry of Mega Police and Western DevelopmentWestern and Mega Police Ministry of 9188–162–0–2–0–2–0 Mobilization – 136,212,990 – 136,212,990 Ministry of Mega Police and Western DevelopmentWestern and Mega Police Ministry of 9188–162–0–2–0–1–0 Mobilization – 186,212,990 – 186,212,990 Ministry of National Integration, Official Languages, Socila Progress and Languages, Socila Progress Official National Integration, Ministry of Hindu Religious Ministry of SportsMinistry of 9188–136–0–2–0–2–0 Mobilization 7,839,024 – 7,839,024 – Ministry of SportsMinistry of 9188–136–0–2–0–1–0 Mobilization 7,637,411 – 19,630,414 -11,993,004 Ministry of Public Administration and ManagementAdministration Public Ministry of 9188–130–0–2–0–9–0 Mobilization 55,566,130 – 62,961,561 -7,395,431 Ministry of Public Administration and ManagementAdministration Public Ministry of 9188–130–0–2–0–8–0 Mobilization 48,969,787 – – 48,969,787 Ministry of Public Administration and ManagementAdministration Public Ministry of 9188–130–0–2–0–7–0 Mobilization 12,108,000 – 6,418,720 5,689,280 Ministry of Public Administration and ManagementAdministration Public Ministry of 9188–130–0–2–0–5–0 Mobilization 15,603,975 – 15,603,975 – Ministry of Public Administration and ManagementAdministration Public Ministry of 9188–130–0–2–0–4–0 Mobilization 19,791,351 – 4,015,838 15,775,512 Ministry of Public Administration and ManagementAdministration Public Ministry of 9188–130–0–2–0–3–0 Mobilization 2,160,028 – 2,160,028 – Ministry of Public Administration and ManagementAdministration Public Ministry of 9188–130–0–2–0–2–0 Mobilization 16,560,186 – 16,494,007 66,179 Ministry of Public Administration and ManagementAdministration Public Ministry of 9188–130–0–2–0–12–0 Mobilization – 25,492,397 – 25,492,397 Ministry of Public Administration and ManagementAdministration Public Ministry of 9188–130–0–2–0–11–0 Mobilization – 9,915,527 – 9,915,527 Ministry of Public Administration and ManagementAdministration Public Ministry of 9188–130–0–2–0–10–0 Mobilization 61,962,888 – – 61,962,888 Ministry of Public Administration and ManagementAdministration Public Ministry of 9188–130–0–2–0–13–0 Mobilization – 25,492,397 – 25,492,397 Ministry of Public Administration and ManagementAdministration Public Ministry of 9188–130–0–2–0–14–0 Mobilization – 3,966,211 – 3,966,211 Ministry of Public Administration and ManagementAdministration Public Ministry of 9188–130–0–2–0–15–0 Mobilization – 5,949,316 – 5,949,316 Ministry of Power, Energy and Business Development Energy Power, Ministry of 9188–119–0–1–0–2–0 Rent – 5,101,392 – 5,101,392 Ministry of Power, Energy and Business Development Energy Power, Ministry of 9188–119–0–1–0–1–0 Rent – 5,101,392 – 5,101,392 Ministry/Department No. Account Type Opening Balance Additions Settlements Financial Statements 13 Sri Lanka of Human Rights Commission 9188–13–0–1–0–1–0 Rent 1,980,000 – 1,980,000 – 21 Department General's Auditor 9188–21–0–1–0–1–0 Rent 2,925,000 – 2,340,000 585,000 23 Commission Service Audit 9188–23–0–1–0–1–0 Rent 3,068,182 – 2,250,000 818,182 24 Commission National Procument 9188–24–0–1–0–1–0 Rent 1,764,000 – – 1,764,000 119 118Agriculture Ministry of 9188–118–0–1–0–1–0 Rent 622,440,000 349,650,000 559,440,000 412,650,000 157 193 Union RelationsTrade Labour & Ministry of 9188–193–0–2–0–1–0 Mobilization 18,933,417 – 18,933,417 – 194 136 219 162 130 No. Head NOTE – 22 – RENT AND WORK ADVANCE ACCOUNT – 2019 ACCOUNT ADVANCE WORK AND – 22 RENT NOTE
238 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Closing Balance Courts Administration Courts 9188–228–0–2–0–32–0 Mobilization – 25,000,000 – 25,000,000 Courts Administration Courts 9188–228–0–2–0–31–0 Mobilization – 27,830,000 12,123,496 15,706,504 Courts Administration Courts 9188–228–0–2–0–30–0 Mobilization – 12,095,935 – 12,095,935 Courts Administration Courts 9188–228–0–2–0–29–0 Mobilization – 82,660,986 – 82,660,986 Courts Administration Courts 9188–228–0–2–0–28–0 Mobilization – 44,100,200 – 44,100,200 Courts Administration Courts 9188–228–0–2–0–27–0 Mobilization – 22,910,036 – 22,910,036 Courts Administration Courts 9188–228–0–2–0–26–0 Mobilization – 50,962,155 2,042,955 48,919,200 Courts Administration Courts 9188–228–0–2–0–25–0 Mobilization – 25,744,000 5,990,637 19,753,363 Courts Administration Courts 9188–228–0–2–0–24–0 Mobilization – 30,000,000 – 30,000,000 Courts Administration Courts 9188–228–0–2–0–23–0 Mobilization – 30,000,000 3,183,560 26,816,440 Courts Administration Courts 9188–228–0–2–0–22–0 Mobilization – 28,080,000 3,604,868 24,475,132 Courts Administration Courts 9188–228–0–2–0–21–0 Mobilization – 27,262,662 4,525,325 22,737,338 Courts Administration Courts 9188–228–0–2–0–20–0 Mobilization 11,025,050 – 9,048,559 1,976,491 Courts Administration Courts 9188–228–0–2–0–2–0 Mobilization 34,706,765 0 26,990,602 7,716,163 Courts Administration Courts 9188–228–0–2–0–19–0 Mobilization 9,620,895 – 9,620,895 – Courts Administration Courts 9188–228–0–2–0–18–0 Mobilization 30,000,000 – 17,819,358 12,180,642 Courts Administration Courts 9188–228–0–2–0–17–0 Mobilization 10,000,000 – 10,000,000 – Courts Administration Courts 9188–228–0–2–0–16–0 Mobilization 50,000,000 – – 50,000,000 Courts Administration Courts 9188–228–0–2–0–15–0 Mobilization 50,000,000 – – 50,000,000 Courts Administration Courts 9188–228–0–2–0–14–0 Mobilization 30,000,000 4,724,868 34,724,868 – Courts Administration Courts 9188–228–0–2–0–13–0 Mobilization 50,000,000 – – 50,000,000 Courts Administration Courts 9188–228–0–2–0–12–0 Mobilization 4,423,865 629,589 5,053,454 – Courts Administration Courts 9188–228–0–2–0–11–0 Mobilization 15,396,906 – 10,055,714 5,341,192 Courts Administration Courts 9188–228–0–2–0–10–0 Mobilization 9,039,733 – 9,039,733 – Courts Administration Courts 9188–228–0–2–0–1–0 Mobilization 40,564,011 – 24,015,297 16,548,714 Sri Lanka Army Sri Lanka 9188–222–0–2–0–5–0 Mobilization – 714,888 – 714,888 Sri Lanka Army Sri Lanka 9188–222–0–2–0–4–0 Mobilization – 779,400 – 779,400 Sri Lanka Army Sri Lanka 9188–222–0–2–0–3–0 Mobilization – 244,306 – 244,306 Sri Lanka Army Sri Lanka 9188–222–0–1–0–20–0 Rent – 17,400,000 6,525,000 10,875,000 Sri Lanka Army Sri Lanka 9188–222–0–1–0–19–0 Rent – – 8,800,000 -8,800,000 Sri Lanka Army Sri Lanka 9188–222–0–1–0–17–0 Rent 9,900,000 4,950,000 – 14,850,000 Sri Lanka Army Sri Lanka 9188–222–0–1–0–22–0 Rent – 1,023,750 – 1,023,750 Department of Sports DevelopmentDepartment of 9188–219–0–2–0–9–0 Mobilization 39,570,056 – 11,388,728 28,181,328 Department of Sports DevelopmentDepartment of 9188–219–0–2–0–3–0 Mobilization 15,379,895 – 4,100,728 11,279,167 Department of Sports DevelopmentDepartment of 9188–219–0–2–0–27–0 Mobilization – 5,000,000 – 5,000,000 Department of Sports DevelopmentDepartment of 9188–219–0–2–0–25–0 Mobilization – 4,844,229 – 4,844,229 Department of Sports DevelopmentDepartment of 9188–219–0–2–0–24–0 Mobilization – 5,000,000 – 5,000,000 Department of Sports DevelopmentDepartment of 9188–219–0–2–0–23–0 Mobilization – 25,000,000 – 25,000,000 Ministry/Department No. Account Type Opening Balance Additions Settlements Department of Sports DevelopmentDepartment of 9188–219–0–2–0–22–0 Mobilization – 11,619,109 – 11,619,109 Financial Statements 219 No. 222 228 Head NOTE – 22 – RENT AND WORK ADVANCE ACCOUNT – 2019 ACCOUNT ADVANCE WORK AND – 22 RENT NOTE
239 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Closing Balance 1,589,016,461 2,243,751,461 1,261,614,036 2,571,153,887 Total Department of Community Based Corrections Community Department of 9188–326–0–1–0–2–0 Rent – 240,000 – 240,000 Department of Community Based Corrections Community Department of 9188–326–0–1–0–1–0 Rent – 420,000 – 420,000 District Secretariat – BadullaDistrict Secretariat 9188–276–0–2–0–7–0 Mobilization – 7,469,287 – 7,469,287 District Secretariat – BadullaDistrict Secretariat 9188–276–0–2–0–6–0 Mobilization 5,593,140 – – 5,593,140 District Secretariat – BadullaDistrict Secretariat 9188–276–0–2–0–5–0 Mobilization 10,906,674 – – 10,906,674 District Secretariat – BadullaDistrict Secretariat 9188–276–0–2–0–3–0 Mobilization 1,274,265 – – 1,274,265 District Secretariat, GalleDistrict Secretariat, 9188–261–0–2–0–6–0 Mobilization – 100,000,000 – 100,000,000 District Secretariat, GalleDistrict Secretariat, 9188–261–0–2–0–5–0 Mobilization 14,441,377 – 14,441,377 – District Secretariat, GalleDistrict Secretariat, 9188–261–0–2–0–4–0 Mobilization 6,000,000 – 6,000,000 – District Secretariat, GalleDistrict Secretariat, 9188–261–0–2–0–7–0 Mobilization – 30,000,000 – 30,000,000 District Secretariat, GalleDistrict Secretariat, 9188–261–0–2–0–8–0 Mobilization – 30,000,000 8,020,037 21,979,963 District Secretariat, GalleDistrict Secretariat, 9188–261–0–2–0–9–0 Mobilization – 5,139,892 – 5,139,892 District Secretariat, MataleDistrict Secretariat, 9188–259–0–2–0–8–0 Mobilization – 7,676,843 7,676,843 – District Secretariat, MataleDistrict Secretariat, 9188–259–0–2–0–7–0 Mobilization – 4,421,527 4,421,527 – District Secretariat, MataleDistrict Secretariat, 9188–259–0–2–0–6–0 Mobilization – 53,221,694 13,164,226 40,057,467 District Secretariat, MataleDistrict Secretariat, 9188–259–0–2–0–5–0 Mobilization 966,552 – 966,552 – District Secretariat, MataleDistrict Secretariat, 9188–259–0–2–0–4–0 Mobilization 1,032,240 – 1,032,240 – District Secretariat, MataleDistrict Secretariat, 9188–259–0–2–0–2–0 Mobilization 25,388,367 – 23,866,506 1,521,861 District Secretariat, GampahaDistrict Secretariat, 9188–256–0–2–0–5–0 Mobilization – 298,797,943 – 298,797,943 District Secretariat, GampahaDistrict Secretariat, 9188–256–0–2–0–4–0 Mobilization – 38,973,645 – 38,973,645 District Secretariat, GampahaDistrict Secretariat, 9188–256–0–2–0–3–0 Mobilization – 159,824,298 – 159,824,298 District Secretariat, GampahaDistrict Secretariat, 9188–256–0–2–0–2–0 Mobilization – 100,000,000 31,448,215 68,551,785 District Secretariat, ColomboDistrict Secretariat, 9188–255–0–2–0–7–0 Mobilization – 19,490,148 19,490,148 – District Secretariat, ColomboDistrict Secretariat, 9188–255–0–2–0–4–0 Mobilization 23,329,223 – 23,329,223 – Courts Administration Courts 9188–228–0–2–0–9–0 Mobilization 21,860,650 – 15,722,201 6,138,449 Courts Administration Courts 9188–228–0–2–0–7–0 Mobilization 21,146,277 7,759,718 28,905,995 – Courts Administration Courts 9188–228–0–2–0–6–0 Mobilization 22,115,380 – 22,115,380 – Courts Administration Courts 9188–228–0–2–0–5–0 Mobilization 13,629,141 – 10,334,884 3,294,257 Courts Administration Courts 9188–228–0–2–0–4–0 Mobilization 61,083,898 – 23,221,830 37,862,068 Courts Administration Courts 9188–228–0–2–0–38–0 Mobilization – 39,194,414 17,931,646 21,262,769 Courts Administration Courts 9188–228–0–2–0–37–0 Mobilization – 7,030,210 – 7,030,210 Courts Administration Courts 9188–228–0–2–0–36–0 Mobilization – 5,107,880 – 5,107,880 Courts Administration Courts 9188–228–0–2–0–35–0 Mobilization – 4,829,844 – 4,829,844 Ministry/Department No. Account Type Opening Balance Additions Settlements Courts Administration Courts 9188–228–0–2–0–34–0 Mobilization – 5,474,984 – 5,474,984 Financial Statements 291 Conservation Coast Department of 9188–291–0–2–0–1–0 Mobilization 8,644,741 – 8,644,741 – 261 276 326 247 Customs Sri Lanka 9188–247–0–1–0–1–0 Rent 780,000 – – 780,000 264Jaffna – District Secretariat/Kachcheri 9188–264–0–2–0–6–0 Mobilization – 4,000,000 4,000,000 – 259 No. 256 255 290 ResourcesAquatic Fisheries and Department of 9188–290–0–2–0–1–0 Mobilization 8,518,925 – – 8,518,925 228 Head NOTE – 22 – RENT AND WORK ADVANCE ACCOUNT – 2019 ACCOUNT ADVANCE WORK AND – 22 RENT NOTE
240 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
2019 2018 Rs Rs NOTE – 23 – CONSOLIDATED FUND Opening Balance of the Consolidated Fund as at 1st January -303,948,639,803 -285,571,378,373
Add Receipts to the Consolidated Fund Total Cash flow from Operating Activities 1,888,353,023,630 1,922,357,082,797 Total Cash flow from Investing Activities 43,099,781,811 146,545,726,696 Total Cash flow from Financing Activities 2,010,692,302,331 1,883,355,767,505 Total Cash Receipts (a) 3,942,145,107,772 3,952,258,576,998 Less Total Payments of the Consolidated Fund Total Cash Disbursement for Operating Activities 2,321,622,719,723 2,108,964,391,022 Total Cash Disbursement for Investing Activities 637,218,885,361 625,310,389,518 Total Cash Disbursement for Repayment of Debt 1,116,985,885,697 1,236,361,057,887 Total Cash Payments (b) 4,075,827,490,782 3,970,635,838,427
Net Cash Flow (a) – (b) -133,682,383,010 -18,377,261,430 Closing Balance of the Consolidated Fund as at 31st December -437,631,022,813 -303,948,639,803
NOTE – 24 – FOREIGN LOAN REVOLVING FUNDS Reimbursable Foreign Aid Revolving Fund (8760 ) 3,271,864,284 3,448,809,061 IDA Revolving Fund (8814) 30,468,647,698 13,848,391,427 ADB Special Dolor Revolving Fund (8919) 18,884,565,936 6,947,528,890 CBSL Special Dollar Account (International Fund for Agr. Dev. Revolving Fund) 2,499,114,809 1,224,588,685 (8974) IBRD Revolving Fund (8982) – 1,570,884,206 CBSL Revolving Fund ( Yen ) – (9095) 2,334,943,591 2,334,943,591 CBSL Special Deutsche Mark Revolving Fund (9102) – 127,907,606 Central Bank Special Nordic Revolving Fund (9111) – 99,027,033 Special Rupee Revolving Fund (9120) -476,985 -476,985 Special Foreign Currency Revolving Fund (Euro Italy) (9121) 2,573,887,625 2,573,887,625 Special Rupee Revolving Fund (9122) – 498,950,000 Special Foreign Currency Revolving Fund (9126) 1,011,818,870 1,004,092,963 61,044,365,828 33,678,534,101
NOTE – 25 – MISCELLANEOUS FUNDS Public Service Provident Fund Account (8098) 2,264,134 13,382,291 Teachers' Widows & Orphans Pension Fund (8186) 1,039,177,078 846,181,511 1,041,441,212 859,563,802
NOTE – 26 – NET ASSETS ADJUSTMENTS ACCOUNT Impact on Borrowings Capital Expenditure Investment- Appropriation Loan Account (8341) -24,088,000,000 -24,088,000,000 Capital Investment Inland & Foreign Consolidated Loan Account (8342) -3,105,824,132,096 -3,194,153,832,259 Treasury Bond Repayment Account (9103) -4,338,280,041,155 -3,999,931,674,545 SL Development Bond Investment Account (9106) -560,226,460,580 -614,218,758,902 Foreign Currency Banking Unit Investment Account (9108) -168,011,450,000 -100,512,445,000 Treasury Bills Utilization Account (9109) -897,669,775,316 -758,796,101,164 Least Asset Investment Account (9183) -2,880,933,571 -7,660,356,498 Foreign Currency Term Financing Facility (9191) -242,190,775,600 -330,174,244,330 International Sovereign Bond Investment Account (9195) -2,733,591,700,000 -2,220,411,285,000 Foreign Currency Banking Unit (Project) Investment Account (9197) -17,700,555,961 -19,507,450,440 Suhurupaya Investment Account of Ministry of Defence (9199) -6,258,115,626 -6,827,035,228 Treasury Bond Investment Account (Active Liability Management Act) (9203) -30,000,000,000 – Financial
Retirement Gratuity Investment Account (9208) -61,135,668,865 – Statements -12,187,857,608,771 -11,276,281,183,366
241 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
2019 2018 Rs Rs Impact on Acquisition of Financial & Non Financial Assets Government Corporations Capital Fund (8467) 488,337,205,578 463,368,225,830 Government Shares Account (8547) 123,623,421,236 123,952,406,989 On-lent Loan Investment Account (9117) 177,149,514,240 184,160,788,946 Property Plant & Equipment Reserve Fund Account (9165) 1,238,826,460,879 973,767,963,565 Work in Progress Reserve Fund Account (9166) 94,253,206,090 88,731,070,407 Lease Asset Reserve Fund Account (9182) 22,190,544,326 24,898,590,069 Rental & Work Advance Reserve (9189) 2,571,153,887 1,589,016,461 2,146,951,506,236 1,860,468,062,266 Balance as at 31st December -10,040,906,102,534 -9,415,813,121,099
Note: In accordance with Article No. 149 & 150 of the Constitution of the Democratic Socialist Republic of Sri Lanka, acquisition of financial & non-financial assets and domestic & foreign borrowings are accounted as payments and receipts to the consolidated fund. Assets & liabilities corresponding to those receipts and payments are included in the Financial Position Report and its impact on net assets are adjusted through Net Asset Adjustment Account.
NOTE – 27 – BANK BALANCE Treasury Authorized Imprest Account (7002) 2,606,597,712 3,283,029,232 Treasury Authorized Imprest Account- (RFA) (7003) 28,975,752 35,827,186 DST Cash Account (8020) Note – 27(I) -186,802,383,346 -151,304,639,789 Crown Agent Current Account (8030) 33,654,973 29,935,607 Temporary Employed Balances of CBSL (8192) -21,420,557,346 -18,483,481,826 Central Bank of Sri Lanka – IDA Special Dollar Accounts (8813) 4,179,188,088 12,591,128,482 ADB Loan SLCB Special Dollar Account (8918) 5,652,258,948 3,849,388,478 International Fund for Agriculture Development Special Dollar Account (8973) 508,387,744 347,720,921 Special Foreign Currency French Development Agency Account (9125) 696,496,157 791,271,630 -194,517,381,317 -148,859,820,080
NOTE – 27(i) Sub Accounts of DST Accounts – (8020) Bank of Ceylon – 0002026450 -179,232,744,860 -188,112,168,211 Peoples Bank – 014100130110432 -96,073,172,520 -87,966,910,316 Central Bank of Sri Lanka – 50516 114,301 147,387 Central Bank of Sri Lanka – 45013 51,409,577,938 29,493,915,099 Central Bank of Sri Lanka – 45026 – 91,374,950,000 Central Bank of Sri Lanka – 50548 – 1.14 Central Bank of Sri Lanka – 50549 77,986,190 108,201,697 Central Bank of Sri Lanka – 50550 2,334,950,130 1,833,034,161 Central Bank of Sri Lanka – 50551 365,153,753 6,100,171 Central Bank of Sri Lanka – 50552 2,221,976,605 – Bank of Ceylon – 0007040501 – 53,054,124 Bank of Ceylon – 0007041570 942,216,724 1,411,216,724 Bank of Ceylon – 0007041571 30,819,374 493,819,374 Bank of Ceylon – 0007041573 31,120,739,019 – -186,802,383,346 -151,304,639,789 NOTE – 28 – ADVANCES FROM CENTRAL BANK OF SRI LANKA Advance from CBSL – Monetary Law Act (8176) 236,608,971,400 198,632,571,400 236,608,971,400 198,632,571,400 NOTE – 29 – GOVERNMENT BORROWINGS Domestic Treasury Bills (8085) 897,669,775,316 758,796,101,164 Financial
Statements Treasury Bonds (9093) 4,338,280,041,156 3,999,931,674,545
242 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
2019 2018 Rs Rs Rupee Loans (8249) 24,088,000,000 24,088,000,000 Sri Lanka Development Bonds (9105) 560,226,460,580 614,218,758,902 Local Loans in Foreign Currency (9107) 168,011,450,000 100,512,445,000 Foreign Currency Banking Units (Projects) (9196) Note 29(I) 17,700,555,961 19,507,450,440 Suhurupaya Loan Account of Ministry of Defence (9198) 6,258,115,626 6,827,035,228 Treasury Bond Account (Active Liability Management Act) (9202) 30,000,000,000 – Retirement Gratuity Loan Account (9207) 61,135,668,865 – Lease Creditors (9181) 2,880,933,572 7,660,356,498 Total Borrowings – Domestic (a) 6,106,251,001,076 5,531,541,821,777 Foreign Foreign (Projects) (8343) Note 29(II) 3,105,824,132,097 3,194,153,832,259 Foreign Currency Term Financing Facility (9190) Note 29(III) 242,190,775,600 330,174,244,330 International Sovereign Bond (9194) Note 29(IV) 2,733,591,700,000 2,220,411,285,000 Total Foreign Borrowings (b) 6,081,606,607,697 5,744,739,361,589
Total Borrowings = (a)+(b) 12,187,857,608,773 11,276,281,183,366
NOTE – 30 – DEPOSITS Treasury General Deposit Account (6000) 81,581,874,674 76,877,880,445 Treasury Deposit Account for District Secretaries (6003) -10,111,000 -10,674,838 81,571,763,674 76,867,205,607 NOTE – 31- OPERATING ACCOUNTS WITH GOVERNMENT DEPARTMENTS [(Dr.)/ Cr.] General Manager – Railway Department (8003) -1,000,515,781 -1,000,515,781 Director General of Customs (8005) -711,651 -2,410,473 Treasury Operations Department (8233) and (8583) – -400,071,183 Cheques Return from Banks (8657) -3,995,094 -3,995,094 Treasury Operations Department (9092) 417,186,631 267,819,411 Collection of GST (9098) -37,953,564 -37,953,565 Non Operating Accounts (9100) -20,772,460 -20,772,460 Agency Transaction in Postal Department (9184) 832,767,266 306,362,155 Value Added Control Account (9185) -126,379,510 -143,197,086 Treasury Bond Premium Account (9186) 16,901,586,580 8,167,439,142 Treasury Bill Discount Account (9187) -74,189,855,728 -87,117,506,365 Accrued Interest on Treasury Bond (9192) 1,081,659,000 2,805,589,000 Discount on Treasury Bill Issuance (9193) -29,228,121,665 -27,707,278,494 -85,375,105,976 -104,886,490,795 NOTE – 32 – SUNDRY ACCOUNTS [(Dr.)/ Cr.] Parity Variance Account on Crown Agent Account (8029) 102,281,109 101,531,485 Foreign Aid Expenditure Account (8301) -80,558,007 -80,558,007 Sinking Fund Investment Account (8574) – -46,492,720 Sinking Fund Account (8575) – 46,492,720 Stock Certificates received from Inland Revenue Commissioner as Capital Tax -88,589 -88,589 (8491) Investment Account for National Housing Bonds (8859) -1,284,200 -1,284,200 Currency Payments Accounts-International Monetary Institutions Fund (8340) – 616,811,553 Public Service Mutual Guarantee Association (8013) 200,409 150,685 20,550,722 636,562,927 Financial Statements
243 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Loan Closing Balance as at Closing Balance Amount Currency Currency Parity Rs. Repayments Repayments Loan Amount Currency Currency Rs. year Loan Accounted during the Accounted Amount Currency Currency -1 – – 1 -0 466 – – -466 – -437 – – 437 -0 Rs. 2,158,721 451,157,172 – – 2,158,721 424,967,353 -26,189,819 – – 7,037,801 1,471,148,184 17,798 3,421,056 924,464 184,334,846 -41,529,533 6,131,135 1,248,704,861 Loan 6,832,185 1,312,748,537 987,671 156,874,023 1,425,833 253,365,879 -54,884,724 6,394,023 1,161,371,957 1,629,280 297,750,758 – – 724,136 129,816,965 -3,528,867 905,144 164,404,926 2,328,376 425,510,353 – – 776,125 139,467,430 -4,101,511 1,552,251 281,941,412 4,684,216 978,967,417 585,527 119,943,742 -24,259,262 4,098,689 834,764,413 5,591,680 1,021,878,803 – – 1,242,595 222,116,948 -9,820,373 4,349,085 789,941,482 3,809,785 696,237,959 – – 1,904,893 340,504,357 -9,740,292 1,904,892 345,993,310 3,934,483 822,278,573 491,810 100,746,123 -20,376,440 3,442,673 701,156,010 11,235,189 2,053,229,733 -12,537,348 11,235,189 2,040,692,385 Balance as at 01.01.2019 Balance 5,050,909 923,053,131 – – 1,683,638 300,954,502 -10,487,415 3,367,273 611,611,214 Amount 14,080,201 2,573,155,361 -15,712,097 14,080,201 2,557,443,264 Currency Currency 372,770,463 372,770,463 6,620,201 6,620,20140,489,544 40,489,544 – 338,901,120 338,901,120 603,425,195 603,425,195 – – 603,425,195 603,425,195 324,035,518 324,035,518 – – 28,177,002 28,177,002 – 295,858,516 295,858,516
302,745,827 302,745,827 29,127,500 29,127,500 273,618,327 273,618,327
3,874,907,144 3,874,907,144 618,244,103 618,244,103 157,129,139 157,129,139 –4,336,022,109 4,336,022,109 1,002,450,283 1,002,450,283 229,592,593 229,592,593 117,337,417 117,337,417 – 1,114,705,459 1,114,705,459
Currency Currency Loan Loan LKR LKR LKR LKR LKR LKR EUR EUR EUR EUR EUR USD USD USD USD USD USD USD USD USD USD Rehabilitation of New Laxapana & Laxapana New of Rehabilitation – 1 Plant Project Power Hydro Wimalasurendra Rehabilitation of New Laxapana & Laxapana New of Rehabilitation -11 Plant Project Power Hydro Wimalasurendra Rehabilitation of Old Laxapana Hydro Power Power Hydro Old Laxapana of Rehabilitation Plant Project Upgrading of Peripheral Blood Bank -National Peripheral of Upgrading Service Transfusion Implementation of Badulla ,Haliela & Ella Implementation of Supply Project Water Integrated Establishment of Clinical Waste Management Waste Clinical Establishment of in the Needy Hospitals Project Systems Monaragala – Buttala Integrated Water Supply Water Integrated – Buttala Monaragala Scheme Pilot Project on Establishment of a Ground a Ground on Establishment of Pilot Project in 03 Selected Network Monitoring Water Districts Development of Nuwara Eliya District General District General Eliya Nuwara of Development Hospital Kolonna – Balangoda Water Supply Project – Supply Project Water – Balangoda Kolonna Financing Additional Widening & Improvement of 64.31 & Km roads of Widening & Improvement & 13 Bridges in the Central of Reconstruction SL of Province Uva Total 19,507,450,440 1,014,751,977 2,588,478,747 -233,167,708 17,700,555,961 Financial Statements 2013011 Bridges Project 210 Steel of Construction 2013013 Phase 1 Supply Project Water Rathnapura Grater 2016013 Hospital Kalutara General of Development 2011034 Supply Project Water – Balangoda Kolonna 2014014 2012013 Hospital General Hambantota of Development 2012014 2010012 2017045 09 no Diesel Multiple Units of Procuring 2017044 2015035 2013044 2016042Wetiya to Sec 02 Beliatta Southern Expressway 2013028 2018034 2010027 Supply Scheme – Phase 111 Water Ampara 2016002 Supply Project Water Integrated Anamaduwa 2012005 I supply Project Water Dambulla Greater 2015020 2009001 2009003 Loan Key Name Project Note – 29(I) FOREIGN CURRENCY BANKING UNIT LOAN (PROJECT) BALANCES (9196) BALANCES (PROJECT) LOAN UNIT BANKING – 29(I) FOREIGN CURRENCY Note
244 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 ,259 10,066,663,511 Closing Balance as at Closing Balance Loan Amount Currency Currency Parity Parity -100,850,813 40,079 Adjustment Rs. Loan 2,226,600 557,486,413 Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 25,000,737 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency JPK 404,188 668,809,804 32,057 52,201,830 5,483,472 372,131 622,091,446 EUR 1,123,075 234,714,485 1,123,075 221,680,769 -13,033,716 – – XDR 3,873,999 982,101,394 430,400 105,734,127 -11,442,261 3,443,599 864,925,006 XDR 11,910,447 3,019,429,370 1,134,400 278,883,902 -33,937,556 10,776,047 2,706,607,912 XDR 9,789,822 2,481,827,463 783,200 192,404,663 -27,239,561 9,006,622 2,262,183,239 XDR 6,406,186 1,624,038,611 711,600 174,964,234 -18,771,483 5,694,586 1,430,302,894 XDR 16,815,485 4,262,910,293 1,293,400 319,342,584 -44,902,817 15,522,085 3,898,664,892 XDR 42,305,859 10,7 XDR 8,275,942 2,098,042,335 1,034,600 254,164,792 -25,077,636 7,241,342 1,818,799,907 XDRXDR 6,374,233XDR 1,615,938,301 757,768XDR 2,860,552 192,102,503 6,377,061 725,181,380 1,616,655,095 607,200 149,275,656 379,200 635,800 -18,163,192 94,093,836 5,767,033 411,422 157,765,984 1,448,499,453 -2,924,179 101,423,108 -8,626,901 378,568 2,224,752 -16,849,017 5,965,639 558,788,495 95,084,488 1,498,382,970 USD 69,334,829 12,670,933,121 11,550,682 2,062,306,212 -113,061,183 57,784,147 10,495,565,726 USD 459,077 83,896,421 459,077 80,655,239 -3,241,182 0 – USD 25,237,789 4,612,203,458 686,619 123,319,095 -29,655,285 24,551,170 4,459,229,078 USDUSD 125,000,000 22,843,737,500 100,919,418 18,578,532,525 5,208,333 941,136,979 3,243,091 -144,360,937 578,849,078 119,791,667 21,758,239,584 -258,732,172 97,676,327 17,740,951,275 Loan Currency Currency Project Name Name Project Ratmalana & Ja-Ela Waste Waste Ja-Ela & Ratmalana Facilities Treatment Water (Sweden Project 1st Small & Medium Industries Project Fourth Rural Electrification Rural Fourth Potion Project-Euro (Sweden Electrification Rural Fourth Potion Project-USD 2nd Development Financing 2nd Development Project 2nd Small & Medium 2nd Small & Medium Industries Project 2nd Technical Education 2nd Technical Project 3rd Development Financing Development 3rd Project 3rd Water Supply & Water 3rd Sanitation Sector ADB Funded Fiscal ADB Funded Management Efficiency Project Agricultural Inputs Inputs Agricultural Programme Agriculture Rehabilitation Rehabilitation Agriculture Project Development Aquaculture Project Anuradhapura Dry Zone Anuradhapura Project Agriculture & Quality Resource Aquatic Improvement Improvement Aquatic Resource Resource Aquatic & Quality Development Capital Market Development Development Capital Market Programme Clean Energy and Access Access and Clean Energy Project Improvement Financial Statements 1991017 2010113 1983071 1987001 1991029 2010109 2nd DFCC Project XDR 492,650 124,892,283 495,880 122,707,541 -2,995,917 -3,230 -811,175 1989067 2010019 1988063 1989068 Programme Agriculture XDR 29,745,924 7,540,918,837 2,704,200 664,893,594 -83,985,272 27,041,724 6,792,039,971 2016038 1998005 1988002 1988008 2004076 2007029 2009026 2002007 2003003 2009006 Loan Key Asian Development Bank (ADB Asian Development AB Svensk Ex.Credit AB Svensk NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
245 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 8,651,261,745 31.12.2019 444,001 Closing Balance as at Closing Balance Loan Amount Currency Currency -27,355,187 22,622,215 4,108,963,272 Parity Parity -349,464,021 4,752,017 1,193,563,984 Adjustment 0,073,271 Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency XDR 4,752,017 1,543,028,005 XDR 14,093,578 3,624,851,694XDR 14,386,691 3,647,184,394 701,792 172,552,696 -88,684,056 13,391,786 3,363,614,942 1,106,670 273,238,642 -38,417,513 13,280,021 3,335,528,239 XDRXDR 264,917 3,603,665 67,159,336 913,568,820 106,200 240,244 26,352,228 59,889,834 -942,370 -8,892,133 3,363,421 158,717 844,786,853 39,864,738 XDRXDR 5,178,465XDR 16,409,167 1,312,797,808 4,159,904,336 27,897,097 7,072,220,875 740,000 994,496 181,791,945 1,268,050 248,997,579 -16,201,524 311,781,052 -39,220,798 4,438,465 15,414,671 -72,051,474 1,114,804,339 26,629,047 3,871,685,959 6,688,388,349 XDRXDR 58,428,456 14,812,836,030 11,938,929 3,026,649,936 2,996,450 739,582,240 702,400 -149,875,358 55,434,325 173,366,005 13,923,378,432 -31,017,197 11,236,529 2,822,266,734 XDR 30,473,461 7,725,357,674 677,200 167,599,662 -73,863,812 29,796,261 7,483,894,200 XDRXDR 18,427,383XDR 4,703,594,522 40,295,966 5,929,674 10,215,470,757 36,166,201 1,441,737,852 9,168,529,682 1,751,998 -27,570,485 430,715,830 1,722,200 24,357,057 -103,708,764 423,444,916 38,543,968 6,117,761,889 -93,823,021 9,681,046,163 34, XDR 2,152,468 545,674,305 253,400 62,544,057 -6,143,438 1,899,068 476,986,810 USD 38,806,008 8,105,512,549 5,411,962 971,979,650 -1,068,172,324 33,394,046 6,065,360,575 USD 87,869,048 16,055,268,812 4,286,295 766,580,508 -107,218,626 83,582,753 15,181,469,678 USD 256,455,504 46,867,217,714 9,617,457 1,709,554,824 -323,481,074 246,838,047 44,834,181,816 USD 136,665,897 24,975,678,998 1,660,876 297,133,685 -157,043,336 135,005,021 24,521,501,977 USD 23,181,363 4,236,391,730 559,148 10 Loan Currency Currency Project Name Name Project Clean Energy and Network and Network Clean Energy Improvement Efficiency Project Clean Energy and Network and Network Clean Energy Improvement Efficiency Project Resource Coastal Management Project Clean Energy and Access Access and Clean Energy Project Improvement Colombo Fort Efficiency and Efficiency Fort Colombo Expansion Project Coconut Development Development Coconut Project Development Financing Development Project Education Distance Modernization Project and Water Dry Zone Urban Sanitation Project Education Sector Sector Education Programme Development (ADF (OCR Emergency Rehabilitation Rehabilitation Emergency Facilities Petroleum Colombo Port Expansion Port Colombo Project Areas Affected Conflict Project Rehabilitation Conflict Affected Affected Region Conflict Project Emergency & North Central Eastern Project Road Provincial Sector Education Programme Development Dry Zone Urban Water and Water Dry Zone Urban (ADF Sanitation Project for Knowledge Education Society Project Emergency Road Road Emergency Project Restoration Conflict Affected Areas Areas Affected Conflict Project Rehabilitation Financial Statements 2010116 2010118 Project Forestry Community XDR 1,027,300 260,431,802 342,400 84,407,914 -3,998,356 684,900 172,025,532 2013017 2013015 2013021 2010021 2007031 1996028 2013034 2013035 1999002 1985004 1988003 2004012 2009018 2001003 2007007 2009007 2003005 2004004 2009008 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
246 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency XDRXDR 4,070,314 1,031,869,306 4,877,763 1,236,566,452 428,600 325,200 105,368,159 80,837,565 -11,815,913 3,641,714 -12,266,769 4,552,563 914,685,234 1,143,462,118 XDRXDR 9,459,860XDR 32,080,479 2,398,178,592 8,132,754,379 10,053,702 2,569,695,504 961,345 220,310,429 531,666 130,706,178 700,732 2,069,800 -26,189,067 172,954,310 10,483,381 512,253,075 2,633,110,688 -25,203,715 -82,752,004 30,010,679 8,759,128 2,200,020,567 7,537,749,300 XDR 4,000,469 1,016,770,666 862,765 210,966,875 -6,239,220 4,863,233 1,221,498,321 XDR 165,646 41,993,329 71,089 17,553,019 -85,482 236,736 59,460,866 XDR 1,773,624 449,922,263 598,731 147,275,762 592,530 145,561,043 -4,598,325 1,779,825 447,038,658 XDR 1,137,629 443,028,534 469,200 116,517,315 -158,621,980 668,429 167,889,239 USD 6,103,473 1,115,409,104 6,103,473 1,090,529,692 -24,879,412 -0 – USD 9,047,802 1,653,484,937 9,047,802 1,619,453,778 -34,031,159 0 – USD 50,037,772 9,144,397,976 4,059,917 725,951,731 1,426,756 253,591,950 -50,136,190 52,670,933 9,566,621,566 USD 35,914,014 6,606,731,963USD 8,246,962 1,437,476,815 17,302,771 2,154,237 3,229,135,585 383,036,371 10,994,691 -31,488,570 1,915,173,420 42,006,738 1,294,970 7,629,683,837 230,376,004 -9,470,354 27,002,492 4,904,462,647 USD 4,589,939 843,841,677 5,043,598 902,122,845 3,774,746 9,633,537 1,749,739,267 USD 1,907,096 665,417,328 547,738 99,245,330 -319,271,800 1,359,358 246,900,197 Loan Currency Currency Project Name Name Project Emergency Schools Emergency Project Restoration Financial Management Financial Management Project Training Fiscal Management Fiscal Management Programme Forest Resources Resources Forest Project Management Sector Waste Colombo Greater Management Project Water (ADF Fourth Development Development Fourth Financing Project Greater Colombo Water Water Colombo Greater Management Water Waste 1 Project Improvement Financial Markets for Private for Private Financial Markets Development Sector Greater Colombo Waste Waste Colombo Greater Management Project Water (OCR Greater Colombo Water and Water Colombo Greater Management Water Waste -3 Inv.Programme Imp. Greater Colombo Water Water Colombo Greater Management Water Waste 1 Project Improvement & Water Colombo Greater Management Water Waste Pro-2 Greater Colombo Water & Water Colombo Greater Management Water Waste Pro-2 Greater Colombo Water and Water Colombo Greater Management Water Waste -3 Programme Inv. Imp. (OCR Green Power Development Development Power Green Efficiency & Energy Programme Improvement Green Power Development Development Power Green Efficiency & Energy Programme Improvement Financial Statements 2010119 Project Health & Population XDR 942,243 238,869,069 269,400 66,848,311 -3,023,419 672,843 168,997,339 1993041 1988013 1990051 Programme Financial Sector XDR 29,300,125 7,427,904,052 2,441,800 600,376,147 -81,551,896 26,858,325 6,745,976,009 2014037 1994026 2013043 2016033 1993002 Project Fisheries Sector XDR 9,967,034 2,526,752,667 712,000 178,267,460 -23,908,586 9,255,034 2,324,576,621 2016034 2014036 2013042 2014029 2014030 2004014 2009029 2009028 2000032 2004009 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
247 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency -14,387,519 6,143,000 1,542,930,448 -41,478,591 17,710,000 4,448,201,219 Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency XDR 3,989,478 1,011,376,590 498,800 122,537,598 -12,089,206 3,490,678 876,749,786 XDR 17,710,000 4,489,679,810 XDR 29,363,116 7,496,022,090 6,585,102 1,655,451,469 1,845,250XDR 453,699,762 -132,131,417XDR 1,561,891 34,102,968 8,565,642,380 395,956,669 1,972,645 500,087,208 390,800 97,846,802 493,400 123,535,344 -3,968,110 1,171,091 -5,011,523 1,479,245 294,141,757 371,540,341 XDR 52,609,946XDR 13,337,199,934 3,273,346 6,143,000 804,668,057 1,557,317,967 -105,556,597 55,883,292 14,036,311,394 XDR 20,341,414 5,156,772,253XDR 6,911,851 1,752,230,269 1,070,602 263,233,640 -53,309,912 19,270,812 4,840,228,701 553,000 136,861,509 -18,223,140 6,358,851 1,597,145,620 XDR 500,887 126,980,281 333,400 82,729,127 -2,183,711 167,487 42,067,443 XDR 36,247,624 9,189,171,557 755,159 186,666,277 -87,901,740 35,492,465 8,914,603,540 USD 36,417 7,123,631 144,892 25,575,310 232,062 181,308 32,931,003 USD –USD – 137,480,837 2,785,000 25,124,609,145 489,851,422 3,912,134 696,704,806 15,988,128 2,785,000 -139,985,358 141,392,971 505,839,550 25,681,328,593 USD 19,614,412 3,584,531,849 23,432,527 4,145,089,145 88,994,474 43,046,939 7,818,615,469 USD 3,979,308 727,662,697 68,128 12,005,847 98,480 17,579,588 -4,840,205 3,948,955 717,248,751 USD 93,778,036 17,137,926,759 3,656,981 655,148,353 -95,563,101 97,435,018 17,697,512,011 USD 9,209,417 1,701,264,844 9,866,644 1,747,812,751 15,707,397 19,076,061 3,464,784,992 USD 88,053 16,389,415 336,720 59,877,643 884,511 424,773 77,151,569 Loan Currency Currency Project Name Name Project Kirindioya Irrigation & Kirindioya Project Settlement Integrated Road Investment Investment Road Integrated 3 Programme-Tranch Jaffna & Kilinochchi Water Water & Kilinochchi Jaffna Supply & Sanitation Project ADF Water & Kilinochchi Jaffna Additional Supply Project Financing Kirindioya Irrigation & Kirindioya Project Settlement Livestock Development Development Livestock Project Integrated Road Investment Investment Road Integrated 3 Programme-Tranch Integrated Road Investment Investment Road Integrated Programme Health System Enhancement Enhancement Health System Project Integrated Road Investment Investment Road Integrated – 4 Tranche Programme- Investment Road Integrated 2(ADF Programme-Tranch Jaffna & Kilinochchi Water Water & Kilinochchi Jaffna Supply & Sanitation Project OCR Local Government Improvement Infrastructure Project Low-Income Housing Low-Income Project Development Integrated Road Investment Investment Road Integrated 2(OCR Programme-Tranch Development Project Development Local Government Local Government Project Sector Enhancement Mahaweli Area Area Mahaweli Roads Local Government Local Government Project Sector Enhancement (ADF Mahaweli Water Security Water Mahaweli Programme- Investment 2 tranche Financial Statements 2010117 2010121 2011001 2010110 1991034 2014041 2011028 2018018 2015010 2011002 2017039 1987003 Land Use Planning Project XDR 1,922,063 487,264,100 240,200 59,878,867 -4,953,567 1,681,863 422,431,666 2015037 2017040 2016036 2015036 1986020 2018045 2015009 2006001 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
248 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency -17,831,677 7,613,542 1,912,284,990 Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency XDR 3,300,870 836,806,728 220,000 54,318,362 -8,669,763 3,080,870 773,818,603 XDRXDR 8,424,446 2,135,689,651 7,613,542 1,930,116,667 481,400 118,818,900 -21,824,703 7,943,046 1,995,046,048 XDRXDR 9,052,370XDR 10,976,826 2,294,875,376 2,782,746,193XDR 5,248,277 1,330,495,960XDR 15,230,583 3,861,120,246 14,960,145 3,792,561,274 532,492XDR 731,788 131,786,000 6,788,755 182,425,624 -23,160,986 115,400 1,721,024,053 8,519,878 -27,085,588 28,560,249 327,600 10,245,038 2,139,928,390 2,573,234,981 80,884,977 -12,716,632 636,602 5,132,877 -37,069,502 156,524,144 14,902,983 1,289,219,079 -38,408,635 3,743,165,767 14,323,543 3,597,628,495 484,800 119,982,748 -17,683,878 6,303,955 1,583,357,427 XDR 40,714,001 10,329,173,464 1,049,083 251,788,276 -91,327,854 41,763,084 10,489,633,886 XDR 1,143,039 289,773,083 457,000 113,386,867 -4,074,432 686,039 172,311,784 XDR 14,799,289 3,751,782,576 4,718,332 1,164,032,899 -13,574,696 19,517,621 4,902,240,779 USD 76,072,884 13,902,311,794 1,627,248 289,252,445 -91,200,739 74,445,636 13,521,858,610 USD 119,233,596 21,789,927,776 3,052,926 544,907,126 -142,660,827 116,180,670 21,102,359,823 USD 121,844,837 22,267,131,937 5,621,743 1,003,405,432 -153,660,874 116,223,094 21,110,065,631 USD 23,421,955 4,281,261,482 1,590,566 282,092,817 1,218,429 218,827,403 -22,805,961 23,794,092 4,321,720,935 USD 8,995,259 1,643,882,611 478,496 85,495,484 -11,453,496 8,516,763 1,546,933,631 USD 1,947,036 440,033,474 7,544,116 1,278,554,140 5,290,356 9,491,152 1,723,877,970 USD 16,838,749 3,077,279,694 1,466,272 262,773,093 -15,311,798 18,305,021 3,324,740,990 Loan Currency Currency Project Name Name Project Participatory Forestry Forestry Participatory Project NCP Rural Development Development Rural NCP Project N-E Community II & Dev.Project Restoration Supplementary North East Community North East Community Project & Dev. Restoration N-W Province Water Water Province N-W Development Resources Project North east Coastal North east Coastal Dev.Project Community North East Community & Development Restoration Project North East Community & Development Restoration II Project Connectivity Northern Road (ADF Project National Highways Sector Sector National Highways AF Project OCR Northern Road Connectivity Connectivity Northern Road (ADF Project Connectivity Northern Road (OCR Project National Highways Sector Sector National Highways AF Project National Development Bank National Development Sri Lanka of Northern Road Connectivity Connectivity Northern Road (ADF Project Modernization of Revenue Revenue Modernization of Administration Mahaweli Water Security Water Mahaweli Programme- Investment 2 tranche Mahaweli Water Security Water Mahaweli Programme- Investment 1 Tranch Mahaweli Water Security Water Mahaweli Programme- Investment 1 Tranch Financial Statements 2010114 2011035 2018019 2004011 1996059 1992039 1992029 2015024 2012029 2015025 2012030 2010026 2010025 2001004 2010020 2004007 2006003 2004005 2005002 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
249 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency JPK 436,180 721,747,367 109,682 181,037,783 5,097,347 326,498 545,806,931 XDR 4,151,096 1,052,348,613 437,000 108,938,653 -10,544,439 3,714,096 932,865,521 XDR 3,799,499 963,214,882 245,128 60,502,368 -9,964,970 3,554,371 892,747,544 XDR 35,737,761 9,059,915,523 2,233,610 549,116,602 -95,598,175 33,504,151 8,415,200,746 XDR 24,304,903 6,161,560,141 2,113,600 525,394,466 -62,400,633 22,191,303 5,573,765,042 XDR 24,885,693 6,308,796,912 4,147,616 1,019,792,658 -80,244,272 20,738,077 5,208,759,982 XDR 4,653,020 1,179,591,787 344,668 84,712,112 -12,755,610 4,308,352 1,082,124,065 XDR 50,957,411 12,918,264,242 2,547,800 629,056,006 -130,219,470 48,409,611 12,158,988,766 XDR 2,551,075 646,725,500 150,064 37,139,213 -6,527,069 2,401,011 603,059,218 XDRXDR 10,229,577 2,593,310,314 9,980,768 2,530,234,598 553,000 135,915,717 767,800 190,022,182 -26,939,377 9,676,577 -26,201,258 2,430,455,220 9,212,968 2,314,011,158 XDRXDR 175,593 8,383,821 44,514,809 2,125,390,818 621,000 70,200 153,274,900 17,419,270 -22,336,734 -624,044 7,762,821 105,393 1,949,779,184 26,471,495 USD 468,344 85,589,783 174,811 31,317,184 -90,728 643,155 116,816,239 USD 6,081,368 1,111,369,432 377,678 67,599,228 -7,786,120 5,703,690 1,035,984,084 USD – – 3,123,488 551,259,400 16,059,726 3,123,488 567,319,125 USD 433,739 105,825,648 10,192,887 1,790,373,953 33,914,375 10,626,625 1,930,113,977 Loan Currency Currency Project Name Name Project Perennial Crops Crops Perennial Project Development Plantation Development Plantation Development Project Plantation Development Plantation Development Project Power Sector Development Development Sector Power Project Power System Expansion System Power Loan Project (Sector Private Sector Development Development Sector Private 1 Sub Programme Project Design Advance Advance Design Project for Northern Province Sustainable Fisheries Project Development Mgt. & Area Protected Project Wildlife Conserv. Road Network Improvement Improvement Network Road Project Rural Finance Sector Sector Finance Rural Programme Development Sector Finance Rural Programme Development Science & Technology Technology & Science Human Resource Project Development Science & Technology Technology & Science Development Personals Project Second Agriculture Agriculture Second Programme Second Fisheries Second Project Development Health & Population Second Project Second Integrated Road Road Integrated Second Programme Investment 1 Tranche Financial Statements 2010115 2010112 Electrification Project Rural XDR 431,248 109,326,086 431,248 107,007,112 -2,318,974 – – 1991055 1998019 1996001 Project Plantation Reform XDR 25,446,086 6,450,862,5992017010 1,542,200 380,645,008 -66,304,946 23,903,886 6,003,912,645 1985001 Project Plantation Sector XDR 9,999,422 2,534,963,584 1,666,400 409,725,125 -32,242,377 8,333,022 2,092,996,082 2017036 2010108 Project Credit Rural XDR 281,684 71,410,116 281,684 69,895,596 -1,514,520 – – 2001001 1988062 1999004 1990025 1992040 2019030 2003001 Development Sector Road XDR 26,884,878 6,815,612,261 1,680,304 418,878,839 -66,128,340 25,204,574 6,330,605,082 2004003 2002009 2002006 2000055 2004002 2002008 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
250 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency XDR 9,763,758 2,475,220,094 514,000 127,209,431 -24,759,082 9,249,758 2,323,251,581 XDRXDR 36,105,093 9,153,038,266 9,512,557 2,411,537,743 2,123,800 524,195,219 1,119,000 -93,799,030 276,191,003 33,981,293 8,535,044,017 -27,146,355 8,393,557 2,108,200,385 XDRXDR 9,584,849XDR 2,429,864,660 16,417,790 4,162,090,369 13,319,611 3,376,667,860 833,600 1,132,400 204,960,913 283,525,380 888,000 -26,862,157 -39,350,388 8,751,249 220,737,267 15,285,390 2,198,041,590 -33,496,577 3,839,214,601 12,431,611 3,122,434,016 XDR 16,895,319 4,283,149,140 965,446 237,286,228 -44,774,307 15,929,873 4,001,088,605 XDR 21,275,431 5,393,555,815 1,575,958 387,337,176 -58,323,648 19,699,473 4,947,894,991 XDR 26,234,168 6,650,650,163 1,311,708 322,515,436 -68,387,864 24,922,460 6,259,746,863 XDR 6,566,120 1,664,583,612XDRXDR 30,414,674 7,710,454,327 3,201,052 136,794 811,501,770 33,813,842 -15,923,066 6,429,326 1,614,846,704 1,900,916 467,386,611 533,600 -81,298,577 28,513,758 131,198,588 7,161,769,139 -10,322,320 2,667,452 669,980,862 XDR 9,901,218 2,510,067,606 1,100,000 270,461,857 -29,013,575 8,801,218 2,210,592,174 XDR 32,600,000 8,264,458,600 1,630,000 400,775,297 -84,982,471 30,970,000 7,778,700,832 USD 17,912,976 3,273,594,662 15,232,093 2,700,125,417 46,418,914 33,145,070 6,020,138,993 USD 10,159,445 1,856,637,377 407,494 72,731,698 -12,619,909 9,751,951 1,771,285,770 USD 3,646,186 666,340,130 82,758 14,771,121 -4,329,230 3,563,428 647,239,779 USDUSD 7,800,000 5,200,000 1,417,422,240 15,000,000 2,685,963,300 944,948,160 10,000,000 1,790,642,200 37,778,460 22,800,000 25,185,640 4,141,164,000 15,200,000 2,760,776,000 Loan Currency Currency Project Name Name Project Second Perennial Crops Crops Perennial Second Project Development Second Integrated Road Road Integrated Second Programme Investment 1 Tranche Second Power System System Power Second Expansion Project Improvement Road Second Project Second Telecommunication Telecommunication Second Project Second Water Supply & Water Second Sanitation Project Secondary Education Education Secondary Project Development Secondary Education Education Secondary Modernization II Secondary Education Education Secondary Modernization Project Secondary Towns & Rural & Rural Towns Secondary / Water Community Sanitation Supp.1 Secondary Towns Power Power Towns Secondary Distribution Project Secondary Towns & Rural & Rural Towns Secondary Supply Water Com/Based (XDR Add & Rural Towns Secondary / Water Community Sanitation (OCR & Rural Towns Secondary / Water Community Sanitation Secondary Towns & Rural & Rural Towns Secondary Supply Water Com/Based Add. Power Towns Secondary ii Distribution Project Skill Sector Enhancement Enhancement Skill Sector A/F Programme Enhancement Skill Sector A/F Programme Skills Sector Enhancement Enhancement Skills Sector Based Results Programme- Lending Financial Statements 2011016 2011015 1998018 2017037 1996002 2018021 1993029 1999045 Project Skills Development XDR 7,043,474 1,785,598,078 541,804 133,772,297 -18,808,537 6,501,670 1,633,017,244 1993030 1990046 2007012 1985002 1988005 1988004 2014006 2018020 2003004 2006004 2000044 2004008 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
251 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 18,163,400,000
31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency 100,000,000 -27,997,500 25,000,000 4,540,750,000 Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency XDRXDR 4,888,066 22,764,061 1,239,178,416 5,770,939,984 489,000 1,084,004 121,901,605 266,528,850 -12,368,326 -59,054,950 21,680,057 4,399,066 5,445,356,184 1,104,908,485 XDRXDR 14,873,129 3,770,501,712 11,678,387 2,960,599,726 1,189,800 293,665,821 778,558 -40,009,290 194,084,804 13,683,329 -28,816,648 3,436,826,601 10,899,829 2,737,698,274 XDR 6,721,882 1,704,070,957 960,268 236,105,334 -20,827,442 5,761,614 1,447,138,181 XDRXDR 3,489,699 884,676,959 5,573,251 1,415,407,909 193,872 234,296 47,649,642 57,607,393 -9,218,197 3,295,827 -16,815,075 5,338,955 827,809,120 1,340,985,440 XDR 702,898 178,192,367 46,860 11,521,675 -1,894,357 656,038 164,776,335 XDR 16,011,677XDR 4,059,136,278XDR 2,970,962 34,889,288 753,171,616 8,844,818,204XDR 11,878XDR 2,933,257 2,910,558 743,612,836 306,257 166,400 842,800 77,639,635 40,913,502 211,016,594 -38,169,463 -7,763,387 2,683,790 15,168,877 2,816,440 669,035,391 3,809,950,221 707,405,285 -86,763,392 32,205,498 651,600 8,089,019,421 161,686,561 26,800 -8,845,075 6,650,092 2,281,657 573,081,200 -798,521 279,457 70,191,022 USD 25,000,000 4,568,747,500 USD 50,000,000 9,137,495,000 2,380,952 424,837,024 -63,419,881 47,619,048 8,649,238,095 USD 87,500,002 16,400,000,300 12,499,998 1,874,999,700 -111,600,000 USD 79,866,675 14,635,788,130 1,954,520 348,856,107 -135,747,272 77,912,155 14,151,184,751 USD – – 389,275 69,003,191 1,700,886 389,275 70,704,076 USD 31,661,381 5,788,816,748 5,872,272 1,043,906,494 1,798,300 321,159,952 -20,951,088 35,735,353 6,490,612,202 USD 78,286,138 14,306,783,850 2,747,937 490,470,534 -96,007,707 75,538,201 13,720,305,609 Loan Currency Currency Project Name Name Project Smallholder Tea Smallholder Tea Project Development Small and Medium-sized Small and Medium-sized – Credit Line of Enterprises Financing Additional Development SME Regional Project Southern Province Rural Rural Southern Province Project Development Rural Southern Province Adva. Project Economic Skills Sector Enhancement Enhancement Skills Sector Based Results Programme- Lending Small & Medium Enterpr. Programme Dev. Sector the Fiscal of Strengthening Management Institutions Project Small and Medium-sized Small and Medium-sized Credit Line of Enterprises Sector Sustainable Power ADF Support Project Sector Sustainable Power OCR Support Project SME- Business Service Business Service SME- Project Facility South Asia Sub Regional Asia Sub Regional South Port Cooperation Economic Highway Elevated Access (SASEC Project Southern Provincial Road Road Southern Provincial Project Improvement Special Assistance to Projects Selected Southern Road Connectivity Connectivity Southern Road Project Southern Road Connectivity Connectivity Southern Road Project Southern Transport Project Development Special Operation Bank -Merchant Southern Transport Southern Transport Project Development -Supplementary Financial Statements 1991061 1989011 2011013 2011012 1991056 2014017 2016014 2019012 2014018 1999057 1983006 1998006 2014005 2018005 2004010 2002001 2007030 2002003 2008003 2002002 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
252 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency EUR 8,000,000 1,671,942,400 1,000,000 200,963,600 -45,315,400 7,000,000 1,425,663,400 EUR 232,095,555 -232,095,555 – – EUR 2,062,184 849,598,222 – – -429,593,145 2,062,184 420,005,076 XDRXDR 222,631XDR 7,080,192 56,439,395 1,794,906,655 2,930,386XDR 742,885,055 1,062,968 10,245,621XDR 262,336,748 2,597,377,701 22,992,929 5,828,960,349 12,368 416,482 102,314,964 3,060,945 -18,874,881 -566,936 6,663,710 539,242 210,263 -2,211,127 1,673,716,810 1,437,200 132,585,814 3,993,354 52,811,514 355,691,428 1,003,010,676 -26,851,276 9,706,379 -59,140,253 21,555,729 2,437,940,611 5,414,128,668 XDRXDR 1,033,646 5,641,285 262,040,623 1,430,127,888 516,400 805,800 127,500,009 200,875,893 -4,624,513 -14,728,461 517,246 4,835,485 1,214,523,534 129,916,101 XDRXDR 3,991,565 5,887,255 1,011,905,743 1,492,483,907 85,800 318,200 21,184,160 79,669,531 -9,714,776 -14,040,953 3,905,765 5,569,055 981,006,807 1,398,773,423 XDR 36,363,563 9,218,563,040 1,864,798 458,327,947 -95,218,917 34,498,765 8,665,016,176 XDR 10,490,329 2,659,413,760 749,200 184,137,529 -28,607,610 9,741,129 2,446,668,621 XDR 52,037 13,192,050 51,167 12,595,755 -377,777 870 218,518 XDRXDR 2,582,982 654,814,254 722,017 183,039,272 469,600 115,462,626 53,484 -8,535,891 13,200,894 2,113,382 -1,923,659 530,815,737 668,533 167,914,719 USD – – 1,000,000 176,752,750 4,877,250 1,000,000 181,630,000 Loan Currency Currency Project Name Name Project Technical Assistance Assistance Loan Technical Agreement Improvement Road Third Project TA for Financial Markets for Financial Markets TA for Private Programme Development Sector Project Loan -Road TA Facility Preparatory Education Technical Development Technical Assistance Assistance Loan Technical Agreement Third Tea Development Tea Third Project Improvement Roads Trunk Project Upper Watershed Upper Watershed Management Project Tsunami-Affected Areas Areas Tsunami-Affected Project Rebuilding Urban Development & Low- Urban Development Housing Sector Income Urban Development Sector Sector Urban Development Project Urea Fertilizer Fertilizer Urea (Supplementary Project Walawe Irrigation Walawe Project Improvement Resources Water Management Project Construction Sector Sector Construction Post (for Support Project Reconstruction Tsunami Construction of Four Grid Four of Construction Substations Maliboda, Nawalapitiya,Wewalwatta and Ragala Green Power Development Development Power Green Efficiency & Energy Investment Improvement Programme Financial Statements 2010111 1984018 2010107 2015021 2010120 Project Education Technical XDR 1,934,808 490,495,050 552,800 136,275,395 -7,102,287 1,382,008 347,117,368 1987002 Project Supply Sector Water XDR 7,925,777 2,009,271,654 990,800 246,994,088 -20,427,020 6,934,977 1,741,850,546 1998059 1993003 2016035 1999005 Project Development Tea XDR 18,718,267 4,745,286,629 960,000 238,212,243 -46,749,955 17,758,267 4,460,324,431 1995006 2019007 1985003 2015023 1998004 2004013 2005001 2007040 2004006 2006002 2000045 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE Agence Francaise De Development Francaise Agence
253 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency -6,616,430 1,242,149 252,983,747 Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency EUR 500,000 104,496,400 1,178,762 243,738,856 -6,328,189 1,678,762 341,907,067 EUR 1,242,149 259,600,177 EUREUR 13,086,482 2,734,980,706 43,699,849 9,132,953,922 1,454,054 6,242,836 288,239,747 1,260,159,466 -77,608,296 -244,066,782 11,632,428 37,457,013 2,369,132,663 7,628,727,674 EUR 15,351,000 3,208,248,473 2,193,000 442,780,297 -85,628,317 13,158,000 2,679,839,859 EUR 14,548,003EUR 3,040,427,835 3,522,487 736,174,516 1,611,286 322,785,765 -82,869,859 1,006,424 12,936,717 199,954,050 2,634,772,211 -23,783,586 2,516,063 512,436,880 EUR 7,033,333EUR 1,469,916,025EUR 6,313,795 1,319,537,738 3,470,550 725,319,920 879,166 175,407,860 789,224 -41,112,428 1,735,274 156,397,363 6,154,167 343,802,641 1,253,395,737 -37,972,032 5,524,571 -28,100,434 1,735,276 1,125,168,343 353,416,845 EUREUR 6,011,858 1,256,435,079 1,732,088 361,993,738 1,335,968 266,547,139 1,732,088 -37,567,233 353,454,797 4,675,890 952,320,707 -8,538,941 -0 – USD 8,000,000 1,461,999,200 2,865,414 514,790,524 -3,304,592 10,865,414 1,973,485,132 USD 52,011,296 9,505,059,241 11,312,564 2,009,848,871 -102,936,708 40,698,732 7,392,273,662 Loan Currency Currency yovers yovers Project Name Name Project Implementation of Implementation of Initiative Sanitation Hygiene – Phase 1 Project Towns for Implementation of Implementation of Integrated Anuradhapura Project Urban Development Trincomalee Integrated Integrated Trincomalee Project Infrastructure Integrated Trincomalee (TIIP Project Infrastructure Implementation of Ambatale Implementation of Supply System Water & Energy Improvement Project Saving Integrated Water Supply Water Integrated Scheme for the Unserved District- Ampara of Areas Phase III (Australia the Implementation of Water Rathnapura Greater Supply Scheme Supply of Three Fl Three Supply of in Ganemulla, Polgahawela in Ganemulla, Polgahawela (Export and Rajagiriya Credit Veyangoda Railway Railway Veyangoda Project Flyover Crossing (Spain Enhancement & Enhancement the of Strengthening by Infrastructure Road Bridges Five of Construction (Austria Greater Colombo Sewerage Sewerage Colombo Greater II System Rehabilitation (Austria Extend Bridges to Railway Tracks Rail Rehabilitation & Rehabilitation Kirindi of Augmentation Supply Project Water Oya (Austria Sirimavo Bandaranayake Bandaranayake Sirimavo Hospital (Austria Children Financial Statements 2016021 2012015 2014027 2015033 2016039 2003071 2013003 2010023 2008021 2007003 2003070 2005049 2006089 2008030 Loan Key Aust. & Newzealand Inv. Bank Inv. & Newzealand Aust. Banco Argentaria Bilbao Vizcaya S.A. NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE Bank Austria
254 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency EUR 3,500,000 731,474,796 1,000,000 199,830,850 -22,478,450 2,500,000 509,165,496 EUR 2,382,326 497,888,864 952,930 188,901,104 -17,868,251 1,429,396 291,119,509 EUR 480,883 100,501,035 480,883 96,354,352 -4,146,683 -0 – EUR 12,952,070 2,706,889,432 1,850,296 371,073,854 -74,759,349 11,101,774 2,261,056,229 EUR 3,365,248 703,312,548 305,932 61,186,156 -19,047,103 3,059,316 623,079,289 EUR 6,564,066 1,371,842,497 3,750,895 759,984,822 -30,979,296 10,314,961 2,100,848,023 EUREUR 61,476,709 12,909,602,864 5,920,726 1,237,389,149 1,387,054 282,543,637 1,223,275 244,169,420 -36,532,292 8,400,000 6,084,505 1,662,214,260 1,239,231,074 -437,255,384 53,076,709 10,810,133,220 EUR 29,543,348EUR 6,174,347,093 7,421,281 1,550,994,346 4,220,478 857,533,249 2,120,366 -159,401,137 25,322,870 429,936,979 5,157,412,707 -41,440,117 5,300,915 1,079,617,250 USD 4,174,192 762,832,988 834,838 150,323,096 -5,969,886 3,339,354 606,540,006 USD 2,773,277 715,009,896 8,319,831 1,312,254,523USD 12,337,943 2,254,757,975 -12,378,799 11,093,108 2,014,885,620 1,763,520 313,824,810 -20,258,281 10,574,423 1,920,674,884 USD 3,939,814 1,028,981,435 11,049,088 1,710,238,940 3,173,862 568,051,387 -25,155,894 11,815,040 2,146,013,094 Loan Currency Currency Project Name Name Project Supply of Modern Medical Supply of Teaching for Equipments (Austria Hospital Kurunegala Water Supply Weligama, Weligama, Supply Water Kataragama Ambalantota, (Austria Importation of Dairy Animals Dairy Importation of Australia (Netherland & the of Improvements and Programmes Facilities (Netherlands SLIATE of Upgrading of Peripheral Peripheral of Upgrading Blood Bank Coming under the National Blood Services Transfusion Reconstruction of (7 Railway (7 Railway of Reconstruction Bridges Project Steel Implementation of Implementation of Dairy 20,000 Importation of Animals Project on Pilot Project a Establishment of Monitoring Groundwater Selected Three in Network District Dairy Sri Lankan II Project-Ph Development Construction of 463 Rural 463 Rural of Construction Bridges General of Development Hospital Kalutara Development of of Development District General Hambantota Hospital (Netherlands a Disaster of Extension Management and Response Emergency (Netherlands System Implementation of Dairy 20,000 Importation of Animals Project Financial Statements 2016041 2011026 2016012 2012010 2017034 2013032 2014032 2014035 2013024 2009031 2016040 2004073 2008039 2008023 Loan Key BNP Paribas BNP NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE Boerenleen Bank Boerenleen
255 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency 73,553,958 Parity Parity -415,365,835 21,124,941 18,817,462,645 Adjustment Rs. 3,593,581,000 -202,043,278 125,570,350 22,807,342,651
Loan Amount Currency Currency 20,000,000 Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency EUR 17,478,525 3,652,885,826 7,358,078 1,458,100,052 -133,592,550 10,120,447 2,061,193,224 EUR 73,553,958 EUR 11,500,000 2,500,000 9,000,000 EUR 3,527,103 737,139,259 3,527,103 716,073,974 -21,065,285 0 – EUREUR 15,289,977 3,493,663,098 26,604,650 14,638,640 6,173,794,892 2,761,202,346 34,103,519 2,491,795 6,495,658,824 503,336,196 2,878,333 -163,471,733 570,615,094 27,436,822 -320,636,005 57,829,836 5,588,057,514 11,778,202,617 USD 145,570,350 26,602,966,928 USD 81,965,455 14,979,178,657USD 11,750,000 21,124,941 2,119,072,550 19,232,828,480 -106,592,201 70,215,455 12,753,513,906 USD 54,290,893 9,921,655,300 13,784,378 2,457,619,650 7,700,000 1,383,022,410 -30,292,072 60,375,271 10,965,960,468 USD 133,940,588 24,477,629,115 1,339,565 238,582,868 20,638,100 3,684,082,198 -209,693,769 114,642,053 20,822,436,016 USD 221,140,506 40,413,405,364 10,986,251 1,955,848,180 23,100,000 4,149,067,230 -254,656,413 209,026,757 37,965,529,901 USD 307,700,000 56,232,144,21338,460,000 6,907,927,518 -421,078,552 269,240,000 48,903,138,143 USD 18,030,826 3,295,131,691 2,773,974 496,483,654 -27,484,805 15,256,852 2,771,163,232 USD 24,536,085 4,483,967,111 5,452,464 972,363,694 -45,368,856 19,083,621 3,466,234,561 Loan Currency Currency Project Name Name Project Post Tsunami Line of Credit Credit Line of Tsunami Post A - Contract Moragahakanda Moragahakanda Project Development Rehabilitation and Rehabilitation Priority of Improvement Phl Project Road kandy South of Towns Supply Project Water SME & GREEN Sri Lanka Global Loan Energy Improvement and Improvement Priority of Rehabilitation 3 (Phase II Project Roads Construction of 537 Steel Steel 537 of Construction Beam bridges Improvement and Improvement Priority of Rehabilitation Phll Roads Upgrading of the National of Upgrading Services Blood Transfusion SL of Implementation of Greater Greater Implementation of Supply Project Water Matale Kelani Implementation of Supply Water Right Bank Project Rehabilitation of of Rehabilitation and New Wimalasurendra Stations Power Laxapana (France and Improvement Priority of Rehabilitation 3 (Phase I Project Road Financial Statements 2012017 2016019 2011007 2013001 2014001 2010051 2013047 2014034 2014028 2016020 2006073 2006072 2002075 DFCC Global Loan USD 3,641,272 665,442,227 2,819,886 502,979,095 -13,271,441 821,386 149,191,691 2006093 DFCC Global Loan ii USD 29,004,550 7,703,995,812 3,412,300 1,113,355,788 -109,221,487 25,592,250 6,481,418,537 2008042 Loan Key Danske Bank A/S Bank Danske Export Development Bank of Iran (EDBI Iran Bank of Export Development Europian Investment. Bank (EIB Investment. Europian Deutsche Bank AG Deutsche Bank Calyon Credit Agricole CIB Agricole Credit Calyon China Development Bank (CDB China Development NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
256 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency -6,935,491 1,302,983 265,378,629 -36,715,953 32,902,548 5,976,221,331 Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency EUR 1,302,983 272,314,120 USD 209,932,607 38,365,162,966 82,451,347 14,778,384,653 -37,850,062 292,383,954 53,105,697,558 USD 38,956,934USD 7,119,375,667 419,812,423USD 76,720,678,231 56,896,204 10,233,144,861 135,376,372 24,740,018,447 43,265,643 7,726,547,925 5,565,276 995,703,318 -58,612,099 -369,235,237 476,708,627 33,391,658 86,584,587,855 6,065,060,250 USD -19,817,226 24,310,364 178,642,015 32,446,749,146 4,442,716,674 2,701,152 483,272,622 -34,476,285 21,609,212 3,924,967,767 USD 27,884,117 5,095,819,626 3,983,446 712,692,343 -41,952,649 23,900,671 4,341,174,634 USD 32,902,548 6,012,937,284 USD 38,464,936 7,029,463,333 5,917,682 1,058,753,591 -59,021,782 32,547,254 5,911,687,960 USD 40,857,558 7,466,714,580 5,836,794 1,044,281,528 -61,471,654 35,020,764 6,360,961,398 USD 37,084,725 6,777,229,814 5,297,818 947,851,405 -55,795,293 31,786,907 5,773,583,116 CNY 83,293,431 2,212,964,859 94,710,818 2,461,438,975CNY 441,729,839 11,805,433,649 45,285,961 1,133,774,798 32,467,786 863,300,252 -251,861,076 454,548,014 -44,513,321 11,824,047,119 178,004,249 4,629,890,512 CNY 1,366,749,266 36,312,204,530 329,405,454 8,544,101,603 -739,321,851 1,696,154,721 44,116,984,281 CNY 860,010,695 22,849,022,159 241,713,406 6,340,763,585 -533,491,872 1,101,724,101 28,656,293,872 Loan Currency Currency oject Project Name Name Project awewa Pr Construction of Outer Outer of Construction Project Highway Circular Kerawalapitiya Phase III from Kadawatha to Colombo-Katunayake Colombo-Katunayake A4 Section (CKE Expressway Extension of Construction Southern Expressway, of to Matara Section 1 from Beliatta Extension of Construction Southern Expressway, of to Beliatta Section 2 from Project Wetiya Extension of Construction Southern Expressway, of Mattala Section 4 from via Hambantota to Andar Service Construction and for Design Review Supervision Construction on Extension Works Civil of Southern Expressway of Project Required Material Finance for Lighting Sri Lanka Project Province Eastern Water Kurunegala Greater Supply and Sewerage Project Hambantota Hub Hambantota Project Development Implementation of Rural Rural Implementation of 8 (Iran Electrification Project Colombo-Katunayake Colombo-Katunayake A3 Section (CKE Expressway Uma Oya Hydro Electric and Hydro Uma Oya (Iran Irrigation Project Bunkering Facility & Tank Tank & Facility Bunkering at Hambantota Project Farm Colombo-Katunayake Colombo-Katunayake A1 Section (CKE Expressway Colombo-Katunayake Colombo-Katunayake A2 Section (CKE Expressway Financial Statements 2013041 2016015 2009011 2012001 2017042 2014024 2014026 2014025 2009013 2014040 2009012 2009010 2010005 2008027 2009009 Loan Key Export Import Bank of China (EIBC Export Import Bank of NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
257 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency USD 34,238,873 6,257,150,687 4,028,102 720,682,028 -49,165,545 30,210,771 5,487,303,114 USD 52,254,499 9,549,504,695 5,806,056 1,038,782,091 -74,105,806 46,448,443 8,436,616,798 USD 12,209,870 2,231,352,332 2,219,976 397,183,820 -19,664,327 9,989,894 1,814,504,185 USD 16,893,515 3,087,288,138 3,071,548 549,541,582 -27,207,467 13,821,967 2,510,539,089 USD 44,069,169 8,053,636,322 5,875,890 1,051,276,210 -65,161,849 38,193,279 6,937,198,263 USD 44,363,091USD 8,107,350,566 46,723,879USD 8,538,784,090USD 26,729,799 4,884,868,029 28,339,800 5,179,095,615 5,915,078 1,058,287,761 6,229,850 -65,596,450 1,114,604,658 38,448,013 3,563,974 6,983,466,355 -69,087,173 40,494,029 637,643,091 3,542,476 7,355,092,259 -39,523,393 633,796,778 23,165,825 -41,261,509 4,207,701,545 24,797,324 4,504,037,328 USD 42,186,305USD 7,709,542,980 56,632,311 10,349,549,162 5,273,286 943,462,319 7,079,038 -61,421,408 1,266,535,819 36,913,019 -82,454,165 6,704,659,253 49,553,273 9,000,559,178 USD 177,255,964 32,393,509,680 6,853,910 1,235,091,981 -187,988,741 184,109,874 33,440,612,920 CNYCNY 73,319,447 58,559,182 1,947,973,040 1,555,817,932 14,663,890 14,639,796 389,677,993 389,037,730 -32,505,643 58,655,557 -24,318,365 1,525,789,404 43,919,386 1,142,461,837 CNY 341,807,856 9,081,253,661 47,377,642 1,247,237,456 -205,776,315 389,185,498 10,122,714,802 CNY 3,265,360 86,755,073 3,265,360 86,082,972 -672,101 – – Loan Currency Currency Project Name Name Project Rural Electrification Project Electrification Project Rural VII 100 Nos.Railway Supply of Carriages Passenger Re.& Im.of 67Km Length of Length of 67Km Im.of Re.& Navatkuli-Karaitivu-Mannar Road Re.& Im.of113Km Length of Length of Im.of113Km Re.& Puttalam-Marichchikade- Mannar Road Procurement of Materials for Materials of Procurement Province Lighting Uva Procurement of Material Material of Procurement for the Northern Province Development Sector Power Programme Northern Road Northern Road Project-A009 Rehabilitation Jaffna 230Km post to (From Northern Road Northern Road (A009 Project Rehabilitation 230Km Galkulama to from Post Matara-Beliatta Section of Section of Matara-Beliatta Railway Matara-Kataragama Project Extension Northern Road Northern Road Project- Rehabilitation (AB020(AB032(AB016(AB018 Northern Road Rehabilitation Project(Mulativu-Kokkilai-11A Northern Road Project-11B Rehabilitation Highway Section from Section from Highway Godagama to Kodagoda 61Km (45Km to Section from Highway Kodagoda to Pinnaduwa 45Km (30Km to Kelanithissa Diesel Storage Diesel Storage Kelanithissa Project Tank Matara Beliatta Section of Section of Beliatta Matara Railway Kataragama Matara Project Extension Financial Statements 2011014 2010031 2011009 2011006 2011005 2011008 2007014 2013022 2010033 2010034 2004041 2010032 2010035 2013005 2010030 2003050 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
258 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency -92,597,114 17,383,906 3,540,514,076 Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency EUR 16,714,045 3,493,952,191 37,825 7,068,025 -96,934,169 16,714,045 3,404,086,047 EUR 17,383,906 3,633,111,190 EUR 5,307,173 1,109,160,843 1,179,372 234,314,676 -34,152,656 4,127,801 840,693,511 USDUSD – 11,011,701USD 2,012,387,360 – 4,961,074USD 878,051,275 – 47,822,593 8,955,237,733 9,421,368 1,506,090,427 – 5,724,396 1,376,462 16,527,000 1,017,103,545 2,915,539,639 246,172,856 -86,519,954 51,519,565 -16,127,531 9,635,239 23,028,509 9,357,704,661 4,961,074 1,750,086,973 901,079,783 86,325,479 16,527,000 3,001,865,118 CNY 494,073,609 13,126,695,840 42,962,922 1,141,696,113 -250,392,796 451,110,687 11,734,606,931 CNYCNY 83,369,215 211,362,758 2,214,978,312 5,615,549,147 20,842,304 553,863,094 17,613,564 468,062,587 -34,621,436 62,526,911 -107,546,895 193,749,194 1,626,493,782 5,039,939,665 CAD 201,875 27,067,239 40,376 5,444,098 859,243 161,499 22,482,384 CAD 1,388,980 186,233,326 182,108 24,555,260 6,330,221 1,206,872 168,008,287 Loan Currency Currency Project Name Name Project wawa Water Supply of 13 Nos.Diesel Supply of Srilanka Multiple Units to Project Railway Rehabilitation of Labugama of Rehabilitation Plant Treatment Water Project Treatment Plant Treatment Supply of 15 Nos. Diesel Supply of Multiple Units 60 Nos. MA Two Suppply of Project Aircrafts Widening & Improvement and Roads 64.31Km of of 13 Bridges of Reconstruction in Provinces & Uva in Central Sri Lanka of Supply and Purchase Disposal Clinical Waste and Related Systems Equipment Line 318M of Doller Credit Railway of the Development Sector Badulla, Haliela and Ella Supply Water Integrated Project of Rehabilitation Kalatu Implementation of Kolonna Kolonna Implementation of Water and Balangoda (Belgium Supply Projects & Asbestos,Nylon Import of TYRE Cord Agricultural Sector Support Sector Agricultural Credit Financial Statements 2017013 1971004 Commodities Import of CAD 156,250 20,949,875 62,500 8,427,397 528,441 93,750 13,050,919 2011029 1976002 1973004 1969007 Commodities of Import CAD 25,000 3,351,980 25,000 3,319,333 -32,647 – – 1970006 Commodities Import of CAD 115,000 15,419,108 57,500 7,753,205 338,661 57,500 8,004,564 2007015 2015034 2013025 2018022 2013009 2010007 2010029 2013008 Loan Key Export Finance & Insurance Corporation & Insurance Export Finance India Export Import Bank of USA Export Import Bank of Hungary (EIBH Export Import Bank of Fortis Bank Fortis NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE Government of Canada of Government
259 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 4 46,612,504 31.12.2019 Closing Balance as at Closing Balance 1,710,07 Loan Amount Currency Currency -11,112,000 20,000,000 520,254,000 Parity Parity -27,780,000 50,000,000 1,300,635,000 -16,668,000 30,000,000 780,381,000 Adjustment 2 -5,121,979 Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 126,234,255 2,800,000 74,499,77 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency EUR 1,972,234 412,182,855 624,278 125,083,232 -12,566,181 1,347,956 274,533,442 DKK 4,510,074 CNY 30,000,000 797,049,000 CNY 50,000,000 1,328,415,000 CNY 5,000,000CNY 20,000,000 155,555,777 531,366,000 5,000,000 106,422,739 -49,133,038 – – CADCAD 21,120,000 2,831,752,691 3,987,500 534,640,751 1,920,000 258,889,632 275,000 99,965,087 19,200,000 37,080,547 2,672,828,146 19,256,116 3,712,500 516,816,320 CAD 100,000 13,407,920 25,000 3,370,959 403,774 75,000 10,440,735 CADCAD 2,125,000 4,750,000 284,918,300 636,876,200 250,000 500,000 33,709,588 67,419,175 9,809,663 1,875,000 22,184,625 4,250,000 261,018,375 591,641,650 Loan EURO 10,514,826 2,197,523,033 5,257,414 1,048,938,327 -77,827,328 5,257,412 1,070,757,378 EURO 1,002,100 209,431,686 1,002,100 200,560,394 -8,871,292 – – EURO 9,201,854 1,923,121,217 4,600,926 917,958,769 -68,109,134 4,600,928 937,053,314 Currency Currency Project Name Name Project kelani Right Bank Water Water Right Bank kelani Plant (Denmark Treatment Economic and Technical Technical and Economic Coorperation-National Art Theater Performance (Nellum Pokuna Economic and Technical Technical and Economic Coorperation-National Art Theater Performance (Nellum Pokuna Economic & Technical Technical & Economic Cooperation Technical and Economic Coorperation-National Art Theater Performance (Nellum Pokuna Nuwara Eliya District Group District Group Eliya Nuwara Supply Project Water Construction of 2 Coast 2 Coast of Construction Sch. Protection Maduruoya Right Bank – Maduruoya B. System Mahaweli Maduruoya Reservior Reservior Maduruoya Complex Oluvil Port Development Development Oluvil Port (Denmark Project Import of Newsprint & Radio & Radio Newsprint Import of Equipment Telecom Ambathale Water Treatment Treatment Ambathale Water Plant Project Import of Fertilizer & Fertilizer Import of Commodities Fertilizer,Alum. Import of Asbestos & Rods Financial Statements 1971003 Michanical Logging Project CAD 208,683 27,980,063 83,474 11,255,410 705,767 125,209 17,430,420 1999102 1980014 1986001 1977004 Supply Project Water CAD 1,275,000 170,950,978 150,000 20,426,348 6,086,392 1,125,000 156,611,022 1977009 1974005 Commodities Import of CAD 302,500 40,558,958 55,000 7,416,110 1,311,577 247,500 34,454,425 1973003 14 Lecomotives of Purchase CAD 676,144 90,656,828 152,000 20,495,429 2,804,563 524,144 72,965,962 1972003 1978005 1975004 Commodities Import of CAD 315,000 42,234,948 52,500 7,079,013 1,386,638 262,500 36,542,573 1975005 Commodities Import of CAD 2,250,000 301,678,200 300,000 40,451,505 10,232,415 1,950,000 271,459,110 1969004 Newsprint Import of CAD 12,500 1,675,990 12,500 1,659,653 -16,337 – – 1983008 2003077 2002076 2006079 2000037 2000073 2008029 2008028 Loan Key Government of China of Government Government of Denmark of Government Government of France of Government NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
260 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... – 10,071,698 Rs. 31.12.2019 ,451 Closing Balance as at Closing Balance Loan Amount Currency Currency Parity Parity Adjustment 721,804 -452,501 49 Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency EUR 753,978 157,575,972 51,608 10,311,496 -4,215,448 702,370 143,049,028 EUR 18,402 3,846,033 5,092 1,023,387 -111,786 13,310 2,710,860 EUREUR 58,182 72,949 12,159,727 15,246,003 12,759 23,498 2,563,924 4, -344,588 45,423 9,251,215 EUR 112,848 23,584,420 83,176 16,659,533 -881,607 29,672 6,043,280 EUR – – EUREUR 764,731 151,014 159,823,385 31,560,863 191,022 38,266,349 10,930 -4,711,787 2,192,516 573,709 -837,947 116,845,249 140,084 28,530,400 EUR 388,293 81,150,442 27,002 5,406,669 -2,161,007 361,291 73,582,766 EUR 604,848 126,408,878 105,442 21,149,757 -3,546,999 499,406 101,712,122 EUREUR 480,929EUR 646,300EUR 100,510,699 643,844 135,072,185 12,004,030 134,558,636 2,508,755,859 95,276 49,710 19,116,276 49,526 56,895 9,975,234 -2,849,941 11,375,001 9,938,766 385,653 -3,591,508 -64,153,254 -3,577,588 596,590 78,544,482 11,947,135 594,318 121,505,443 2,433,227,604 121,042,282 EUR 7,960,240 1,663,632,846 634,854 127,027,930 -44,671,385 7,325,386 1,491,933,531 EUREUR 223,792 211,569 46,770,916 44,216,397 31,756 13,250 6,374,447 2,658,480 -1,285,228 192,036 -1,167,041 198,319 39,111,241 40,390,876 EUR 1,124,817 235,078,432 97,566 19,497,612 -6,364,770 1,027,251 209,216,050 EUR 543,806 113,651,430 251,728 50,482,540 -3,682,591 292,078 59,486,299 Loan Currency Currency ansmission awewa Tr Project Name Name Project Cardio Thorocic Thorocic Cardio Equipment Hospital for Kandy Colombo Airport Colombo Proj. Telecommunicatin Mixed Credit for Credit Mixed Airport,Telecom,Irriga. NWSDB Mixed Credit for Irri. Credit Mixed CEB. Telecom. Mixed Credit for Credit Mixed Airport,Telecom,Irriga.,NWSDB Development of Mini Dairy of Development with French Cooperatives Loan Soft Mixed Credit for Telecomm. Telecomm. for Credit Mixed & CEB. Modenisation – Colombo Network Distrib. Water Elihouse &F/S on Colombo on Colombo Elihouse &F/S Sp North Water Modern. Rathmalana Air Modern. Rathmalana Syst. Control Traffic Greater Trincomalee Water Water Trincomalee Greater Supply Project Expansion of E 10B Telecom Telecom E 10B Expansion of – 1996 Exchange Telephone Expansion of in Colombo Exchanges Colombo of Extension Units Telecommunica. Provision of Oxygen Oxygen of Provision Operating Concentrators, & Medical Theaters Tsunami to Equipment & Remote Affected Hospitals Project Improvement of of Improvement Film Unit Government of Improvement Fim Unit Government Rehabilitation of Ambatale of Rehabilitation Plant Water Samanal Project Financial Statements 1997081 1997077 1999103 1999104 1999105 1999100 1997084 1997082 1997080 2018047 1998083 1998084 1998090 2010008 2000100 2002053 2002054 Ganga Project Nilwala EUR 8,748 1,828,365 8,748 1,757,748 (70,617 (0 (0 2002055 2002052 2005052 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
261 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency EUR 5,950,629 1,243,638,616 530,976 106,221,844 -33,616,641 5,419,653 1,103,800,131 EUR 161,622 33,777,932 11,556 2,317,912 -896,480 150,066 30,563,540 EUREUR 3,247,317EUR 4,699,284 678,665,799EUR 1,650,450 982,116,458 344,932,350 644,228 134,639,133 185,088 234,172 37,160,947 113,506 47,015,784 -17,832,310 22,810,735 3,062,229 64,422 -25,708,277 4,465,112 -9,098,055 623,672,542 12,946,634 1,536,944 909,392,397 -3,605,657 313,023,560 579,806 118,086,842 EUREUR 1,031,526EUR 2,744,578 215,581,551 573,597,098 21,821,156 4,560,464,529 150,924 406,130 30,221,351 875,735 81,283,866 -6,011,216 175,405,884 -16,050,358 880,602 2,338,448 -119,184,243 20,945,421 179,348,984 476,262,874 4,265,874,402 EUR 20,554,956 4,295,837,857 631,956 126,881,023 -111,315,239 19,923,000 4,057,641,595 EUR 1,549,867 323,911,024 77,494 15,558,718 -8,479,582 1,472,373 299,872,724 EUR 6,675,226 1,395,074,041 343,588 68,983,857 -36,549,690 6,331,638 1,289,540,494 EUREUR 312,911 8,493,152 65,396,122 1,775,007,594 2,814,000 17,384 564,980,428 3,490,254 -53,354,260 5,679,152 -1,717,014 1,156,672,906 295,527 60,188,854 EUREUR 4,531,919EUR 4,502,000 947,138,403 940,885,585 587,987 122,884,918 166,000 166,000 33,328,625 33,328,625 -24,619,683 51,130 -24,460,317 4,365,919 4,336,000 10,275,104 889,190,095 883,096,643 -3,270,151 536,857 109,339,663 EUR 3,783,561 790,736,976 204,516 41,061,822 -20,744,843 3,579,045 728,930,311 Loan Currency Currency Project Name Name Project Spatial Information for Infrastructure Monitoring Reconstruction Project TA/Mainten. Water Water TA/Mainten. Plant Colombo Treatment Grib Substation Kelaniya & Grib Substation Kelaniya Rathmalana General Comodity Aid 1995 Comodity General for Potash Commodities Import of (11 b Commodities Import of Water Treatment Plant at Treatment Water Anuradhapura Widening and 46 of Reconstruction Road Bridges on National Network Water Supply Network of of Supply Network Water Colombo 2nd Ext. of Sapugaskanda Sapugaskanda 2nd Ext. of Pl Deisal Power Ampara Water Supply Water Ampara Project Colombo Grib Substation Colombo Project Commodity Aid for Electro. Commodity CBSL Equip.for of Construction Maternity Mahamodara Hospital, Galle DFCC IV Private Sector Sector Private DFCC IV Development DFCC V Credit Line for SME Credit V DFCC in the North and East Mills Paper Embilipitiya Project Expans of two 132/11KV 132/11KV two Expans of Substa. In Colombo Financial Statements 2001111 (12 Commodities Import of EUR 697,402 145,751,824 63,400 12,741,133 -3,886,121 634,002 129,124,570 2001113 x Commodities Import of EUR 1,204,604 251,753,618 126,800 25,482,261 -6,759,137 1,077,804 219,512,220 2001116 2001118 2001101 1997078 1998021 2001123 IX Commodities Import of EUR 704,049 147,141,154 82,830 16,645,670 -3,974,042 621,219 126,521,442 1998037 2000101 1998058 2012022 2012028 2001064 Commodities Import of EUR 2,427,613 507,353,672 151,342 30,414,314 -13,339,942 2,276,271 463,599,416 2001042 2001054 2001065 2001058 2001060 2007042 2000010 DFCC Bank (DFCC iii EUR 5,408,445 1,130,326,180 251,556 50,506,038 -29,535,962 5,156,889 1,050,284,180 2005043 2006040 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE Government of Germany of Government
262 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency -6,701,950 1,258,204 256,253,652 Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency EUR 1,329,357 277,826,097 102,258 20,550,212 -7,357,317 1,227,099 249,918,568 EUR 2,307,870 482,328,207 158,500 31,822,910 -12,751,381 2,149,370 437,753,916 EUR 3,610,745 754,619,631 328,250 65,904,220 -20,182,078 3,282,495 668,533,333 EUR 3,147,362 657,776,113 153,530 30,824,939 -17,208,650 2,993,832 609,742,524 EUR 2,594,084 542,144,787 129,704 26,041,341 -14,192,666 2,464,380 501,910,780 EUR 674,906 141,050,449 33,746 6,775,200 -3,692,523 641,160 130,582,726 EUR 4,531,919 947,138,401 166,000 33,328,625 -24,619,683 4,365,919 889,190,093 EUREUR 1,680,757EUR 1,540,512 351,266,195 3,323,397 321,955,973 694,565,933 68,000 80,952 13,652,690 332,340 16,253,057 -9,149,334 66,788,187 1,612,757 -8,439,752 -18,600,585 1,459,560 328,464,171 2,991,057 297,263,164 609,177,161 EUR 2,124,930 444,095,119 151,342 30,414,314 -11,727,658 1,973,588 401,953,147 EUR 1,258,204 262,955,602 EUREUR 5,222,601 1,091,485,970 606,904 126,838,544 300,873 60,361,812 31,700 -28,734,467 4,921,728 6,364,583 1,002,389,691 -3,324,390 575,204 117,149,571 EUR 2,075,334 433,729,987 125,778 25,253,019 -11,418,145 1,949,556 397,058,823 Loan Currency Currency Project Name Name Project Import of Commodity loan Commodity Import of XIII Kirindioya Irrigation & Kirindioya Project Settlement Kirindioya Irrigation & Kirindioya Project Settlement Koggala Water Supply Water Koggala Project Nawalapitiya Water Supply Water Nawalapitiya Project NDB Small Loan Programme NDB Small Loan Programme iii NDB V- Private Sector Sector Private V- NDB Programme Promotion NDB VI -Small and Micro VI -Small and Micro NDB Enterprises Infrastructure Sector Private Project Development 16 Locomotives of Purchase (11 a Railway Wagons Wagons for Railway Distribut. Fertilizer Reconstruction of Water Water of Reconstruction Supply Galle District – Phase ii Rehabilitation Electricity Rehabilitation ( Region Jaffna Supply Line Transmission Small Entrepreneur Promot. Small Entrepreneur (DFCC II Pg. Small Entrepreneur Small Entrepreneur Programmeby Promotion DFCC Financial Statements 2001117 2001112 XIX Commodities Import of EUR 1,928,593 403,062,089 167,704 33,702,347 -10,726,081 1,760,889 358,633,661 2001115 Bridges II Railway EUR 4,831,710 1,009,792,635 223,946 44,962,692 -26,384,093 4,607,764 938,445,850 2001110 Crane a Railway Supply of EUR 681,552 142,439,374 31,700 6,370,566 -3,716,025 649,852 132,352,783 2001122 1997065 2001061 2001106 XVII Commodities Import of EUR 2,471,586 516,543,716 125,778 25,276,759 -13,505,078 2,345,808 477,761,879 2001103 Bridges Project Railway EUR 760,804 159,002,381 63,400 12,741,133 -4,223,833 697,404 142,037,415 2001105 1998057 2001104 2001108 XVIII Commodities Import of EUR 2,556,460 534,281,833 127,822 25,687,766 -13,962,697 2,428,638 494,631,370 2001102 Dam Project Rantembe EUR 29,704,010 6,207,924,268 1,697,490 340,813,108 -163,129,416 28,006,520 5,703,981,744 1999054 Project NDB IV EUR 5,368,565 1,121,991,380 255,646 51,327,275 -29,335,359 5,112,919 1,041,328,746 1999026 2001100 Dam Project Randenigala EUR 66,467,944 13,891,321,772 5,112,918 1,027,510,573 -367,866,301 61,355,026 12,495,944,898 2001067 2001063 2010036 2001049 2001068 XVI Commodities Import of EUR 2,109,077 440,781,854 127,822 25,687,766 -11,579,661 1,981,255 403,514,427 2005051 2003047 2005044 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
263 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency 3,655 – – Parity Parity 170,000,000 10,000,000 16,717,000,000 Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency JPKJPK 898,855 1,596,167,426 1,281,825 – 1,992,591,118 – 105,801 157,667,825 56,684,513 2,180,680 3,645,443,057 19,199,506 105,801 176,867,331 JPK 6,647,332 10,999,340,266 570,514 937,240,399 96,516,789 6,076,818 10,158,616,656 JPK 196,968 325,922,950 32,828 54,218,725 2,688,613 164,140 274,392,838 JPKJPK 3,881,550 6,422,800,794 37,404 61,892,399 276,290 454,179,317 58,291,679 24,936 3,605,260 40,761,632 6,026,913,156 -288,011 12,468 20,842,755 JPK 10,000,000 16,547,000,000 USDUSD 30,549,306 5,583,319,229 32,522,480 5,943,480,049 59,063 10,356,946 11,507,528 2,066,420,678 -57,893,536 19,100,840 3,469,361,961 8,795,024 1,581,499,833 -52,267,559 23,727,456 4,309,712,657 USD 375,029,020 68,536,515,836 25,302,464 4,550,471,400 -463,811,249 349,726,556 63,522,233,187 USD 261,974,781 47,888,361,829 15,683,620 2,810,617,179 10,880,191 1,958,030,978 -286,021,736 266,778,210 48,454,926,295 USD 91,934,648 16,801,047,731 16,302,100 2,907,634,271 -156,273,705 75,632,548 13,737,139,755 USD 45,882,360 8,384,996,621 8,643,210 1,554,384,649 -66,716,424 37,239,150 6,763,895,548 USD 1,462,790 267,324,726 1,462,910 258,317,137 -9,007,589 – – USD 34,374,081 6,354,130,183 5,206,354 879,190,314 5,277,392 950,761,359 -51,960,139 34,303,043 6,230,599,000 USD -20 -3,655 Loan Currency Currency Project Name Name Project Upgrading of Railway Line Railway of Upgrading Matara Colombo Water North Anuradhapura (i Supply Project Water North Anuradhapura (Phase 2 Supply Project Upgrading of Railway Line Railway of Upgrading Colombo Matara phase II Railway Line Omanthai Railway Tallaimannar Madhu- -Pallai, & Medawachchiya Restoration of Northern of Restoration Services Railway Bandaranayake Inter. Airport Inter. Bandaranayake Dev.Project Procruement of Two Two of Procruement Patrol Offshore Advanced Vessels Coal Fired Thermal Fired Coal Project Development Indian Doller Credit Line Indian Doller Credit Agreement City Electricity Colombo Distribution Development Project -Katunayake Colombo Project Const. Expressway Import 300,000 Tonnes of of Tonnes Import 300,000 Indian Wheat Policy Development Sector Loan(private Governance Development, & Fiscal Improvement Consolidation Greater Dambulla Water Water Dambulla Greater i Supply Project Economic Stabilization Stabilization Economic Programme Financial Statements 1997051 (II Project Baseline Road JPK 1,005,768 1,664,244,310 111,752 183,586,186 13,868,423 894,016 1,494,526,547 1990015 2001041 Credit Line of USD 12,425,873 2,270,827,048 2,420,000 432,831,399 -20,588,913 10,005,873 1,817,406,736 2001051 1993023 Project Baseline Road JPK 1,201,510 1,988,138,597 240,302 394,768,125 13,480,942 961,208 1,606,851,414 2008011 2016037 1999029 2010010 2013046 2016032 1994020 2013020 2012003 2010052 2012002 2002057 2003049 Credit Indian Line of USD 12,121,469 2,215,197,191 1,584,194 283,529,933 -17,782,000 10,537,275 1,913,885,258 2002056 2004040 Credit Indian Line of USD 8,298,103 1,516,477,453 1,494,000 268,564,279 -12,056,770 6,804,103 1,235,856,404 2008006 Loan Key Government of Japan of Government Government of India of Government NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
264 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency 118,785,391 6,987,376 11,680,796,378 82,402,596 4,847,213 8,103,083,475 Parity Parity 509,676,065 29,980,945 50,119,145,800 Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency JPK 6,987,376 11,562,010,987 JPK 4,847,213 8,020,680,879 JPK 474,760 785,585,374 23,738 39,205,681 7,593,786 451,022 753,973,479 JPK 261,198 432,204,331 12,438 20,433,147 4,080,908 248,760 415,852,092 JPK 1,553,640 2,570,808,109 77,682 126,982,881 23,533,762 1,475,958 2,467,358,990 JPK 3,629,236 6,005,296,814 139,586 229,458,446 57,809,542 3,489,650 5,833,647,910 JPKJPK 2,292,448 – 3,793,313,714 – 736,039 1,176,587,696 286,556 463,117,479 23,053,430 2,005,892 3,353,249,665 53,849,202 736,039 1,230,436,898 JPK 21,828 36,118,792 14,552 23,787,426 -168,076 7,276 12,163,290 JPKJPK 1,038,384 1,240,870 1,718,214,004 2,053,267,588 173,064 496,348 285,832,502 811,355,259 14,173,942 865,320 2,705,097 1,446,555,444 744,522 1,244,617,426 JPKJPK 19,775,427 32,722,399,061 29,980,945 49,609,469,735 1,068,942 1,747,346,040 296,577,958 18,706,485 31,271,630,979 JPKJPK 1,782,606 2,949,678,148 1,991,574 5,991,888,717 509,316 832,553,399 11,434,144 1,273,290 2,128,558,893 -2,662,573,843 1,991,574 3,329,314,874 JPK 5,619,960 9,299,347,813 187,332 309,397,531 91,773,947 5,432,628 9,081,724,229 JPKJPK 817,720JPK 3,425,895 1,353,081,284 5,668,828,449 173,678 790,972,846 2,556 3,451,592 163,544 152,262 268,670,084 248,895,081 9,174,818 52,598,908 3,273,633 654,176 5,472,532,276 1,093,586,018 -499,812,673 176,235 294,611,765 Loan Currency Currency Project Name Name Project Emergency Natural Disaster Disaster Natural Emergency Project Rehabilitation Eastern Province Water Water Province Eastern Supply Development Project Energy Diversification Diversification Energy Project Enhancement (Engineering Services Engineer . Servic for the Highway S.thern Environmentally Friendly Friendly Environmentally Solution Fund Environmentally Friendly Friendly Environmentally (II Solution Fund Establishment of Light Rail Light Rail Establishment of in System Project Transit (i Colombo & Enviro. Flood Control G.C. (III Project Imp. Greater Colombo Drainage Drainage Colombo Greater Project Rehabil. Greater Colombo Flood Colombo Greater (II Project & Env. Control Telecom. Colombo Greater (II Project NetWork Greater Colombo Transport Transport Colombo Greater Project. Development Urban Colombo Greater Development Transport – Phase II Project Greater Colombo Flood Colombo Greater Imp.(I & Env. Control Colombo Greater and Transmission Distribution Loss Reduction Project Greater Colombo Urban Urban Colombo Greater Development Transport Phase 2(i Project. Project Greater Colombo Water Water Colombo Greater Project Extension Sys. Sup. Supply Water Kandy Greater Veyangoda Habarana Line Project Transmission Financial Statements 1990011 2019011 1994015 2011027 2013016 1991005 2011003 2010015 1999032 1996056 1998056 1993028 1992009 2001046 2012006 2008016 2008012 2007004 2004046 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
265 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency -3,289,092 57,599 96,287,663 Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency JPKJPK 826,034 3,699,882 1,366,837,745 6,129,488,792 90,429 153,829,160 63,222 104,417,456 12,771,466 52,945,097 762,812 3,790,311 1,275,191,755 6,336,263,049 JPK 1,107,072 1,831,872,038 184,512 304,740,019 15,111,533 922,560 1,542,243,552 JPK 4,870,188 8,058,700,091 541,132 888,971,650 67,154,481 4,329,056 7,236,882,922 JPK 4,673,339 7,786,062,676 1,222,245 1,946,302,029 123,283,736 5,895,584 9,855,648,441 JPK 5,231,776 8,657,019,748 653,972 1,056,916,848 52,612,047 4,577,804 7,652,714,947 JPKJPK 5,640,576JPK 9,333,461,108 3,176,720 5,256,517,972 4,106,812 1,452,476 6,795,541,824 2,355,844,374 940,096 1,552,662,554 76,993,862 296,564 4,700,480 126,265,443 7,857,792,416 487,506,731 4,629,197 7,738,627,789 61,556,497 3,810,248 6,369,591,590 JPK 1,351,494 2,236,317,122 150,166 246,692,705 18,634,003 1,201,328 2,008,258,420 JPKJPK 7,003,200 11,588,195,494JPK 1,685,140 707,288 2,788,401,159 1,120,082,364 57,599 99,576,755 164,682 181,352,502 7,710,488 269,197,431 12,889,630,360 22,545,912 1,520,458 2,541,749,640 JPK 12,387,392 20,497,416,918 4,192,562 6,824,635,054 394,655,927 16,579,953 27,716,707,898 JPK 417,318 690,536,095 278,212 454,779,245 -3,213,349 139,106 232,543,501 JPKJPK 1,483,293 2,454,404,929 1,272,230 2,105,158,982 128,982 210,840,426 508,892 831,860,307 20,437,198 1,354,311 2,773,461 2,264,001,701 763,338 1,276,072,136 JPK 3,408,188 5,639,528,684 973,768 1,591,769,862 21,861,092 2,434,420 4,069,619,914 JPK 1,665,410 2,755,753,927 333,082 547,187,109 18,685,900 1,332,328 2,227,252,718 Loan Currency Currency Project Name Name Project Improvement of Basic of Improvement Targeting Social Services Regions Emerging Impro.Nati .Blood Impro.Nati Services Transfusion Industrial Estates Industrial Estates Project Devlopment Kalu Ganga Water Supply Water Ganga Kalu Col. for Grater Project Kandy City Waste Water Water Kandy City Waste Management Project Kelanitissa Combined Cycle Cycle Combined Kelanitissa Plant Power Kukule Ganga Hydroelectric Ganga Hydroelectric Kukule Project Power Landslide Disaster the of Project Protection Work Net National Road & Envir.Improv. Lunawa Project Dev. Community Mahaweli Systerm C. Systerm Mahaweli Project Upgrading Medium Voltage Distribution Medium Voltage Network Major Bridges Construction Major Bridges Construction the National Road of Project Network National Transmission and Distribution Network and Efficiency Development Project Improvement New Bridge Construction Bridge Construction New the Kelani Over Project River Port of Colombo Extension Extension Colombo of Port (i Project Port of Colombo Extension Extension Colombo of Port Port of Colombo North Pier. North Colombo of Port II (Modification Dev.Project Agreement Extension Colombo of Port (ll Project Project III Project Port of Colombo Extension Extension Colombo of Port IV Project Financial Statements 1994017 1994016 2013019 1997053 1990014 1991006 1997054 2013018 2015018 1996057 Project Plantation Reform JPK 1,590,624 2,632,005,532 198,828 321,335,872 15,995,713 1,391,796 2,326,665,373 2010016 1996053 1993024 1998054 2012007 1992008 2014003 2001044 2001052 2000015 2003042 II Project Plantation Reform JPK 1,200,368 1,986,248,915 82,784 135,322,866 17,339,109 1,117,584 1,868,265,158 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
266 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency 67,267,290 3,956,899 6,614,748,775 155,442,108 9,143,653 15,285,445,436 Parity Parity Adjustment Rs. 308,912 507,804,991 127,935,905 7,722,800 12,910,204,766 Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments 0,073,852 Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency JPK 1,427,748 2,362,494,617 237,958 393,011,433 19,488,760 1,189,790 1,988,971,944 JPKJPK 733,964 2,519,580 1,214,490,230 4,169,149,014 66,724 83,986 109,614,188 138,711,279 10,549,064 667,240 41,144,741 2,435,594 1,115,425,106 4,071,582,476 JPK 2,631,199 4,353,844,986 181,462 296,626,858 38,007,216 2,449,737 4,095,225,344 JPK 2,032,117 3,362,544,002 140,146 229,089,659 29,353,580 1,891,971 3,162,807,923 JPKJPK 4,021,215 6,653,904,367 4,228,287 6,996,546,494 146,226 239,028,331 291,606 476,673,748 62,942,981 3,874,989 61,076,877 6,477,819,017 3,936,681 6,580,949,623 JPKJPK 3,658,042 6,052,962,101 9,143,653JPK 15,130,003,328 JPK 3,956,899 6,547,481,485 4,093,263 6,773,122,285 197,732 323,222,613 54,860,743 3,460,310 5,784,600,231 282,294 461,451,887 59,126,460 3,810,969 6,370,796,858 JPK 889,128 1,471,240,102 444,564 730,329,740 2,267,276 444,564 743,177,638 JPK 166,158 274,941,643 9,178 15,077,619 2,559,442 156,980 262,423,466 JPKJPK 1,070,076 1,770,654,789 398,045 658,645,061 152,868 251,131,550 159,218 13,773,407 260,265,704 917,208 1,533,296,646 867,738 238,827 399,247,095 JPKJPK 1,702,974 2,817,911,087 527,720 873,218,284 144,494 237,374,743 105,544 24,774,682 173,387,684 1,558,480 2,605,311,026 5,921,018 422,176 705,751,618 JPKJPK 2,612,050 4,322,159,135 2,375,154 3,930,167,324 208,964 263,906 345,124,942 433,544,777 40,204,674 2,403,086 32,750,735 4,017,238,867 2,111,248 3,529,373,282 JPK 8,031,712 13,29 Loan Currency Currency awewa Hydro awewa Project Name Name Project Port of Colombo North Pier North Colombo of Port Develop.Project Poverty Alleviation Alleviation Micro Poverty – Project Finance Alleviation Micro Poverty -II Project Finance Power Sector Restructuring Restructuring Sector Power Programme Power Sector Restructuring Restructuring Sector Power (Kerawalapitiya Project Pro – poor Eastern – poor Eastern Pro Development Infrastructure Project Pro-poor Economic Advt. & Advt. Economic Pro-poor Enht.(PEACE Commu. Provincial /Rural Road Road /Rural Provincial Project Development Province (Eastern Road Provincial Project Improvement Pro-Poor Rural Development Development Rural Pro-Poor Project Provincial /Rural Road Road /Rural Provincial Project Development and Province (Central Province Sabaragamuwa Railway Rehabilitation Rehabilitation Railway Project Reduction of Non Revenue Non Revenue of Reduction Project Water Electric Power Project Electric Power Samanal (III Power Hydroelectric Project Samanal Road Network Improvement Improvement Network Road Project S.Lan.-Jap. Friendship Bridge Friendship S.Lan.-Jap. Widening Project Small & Micro Ind. Leader & Small & Micro II Project Entrepr. Ind. Leader & Small & Micro Project Entrepre. Small And Micro Industries And Micro Small Leader And Entreprener (SMI LE iii Promotion Financial Statements 1999031 1991007 1994018 1997055 2010013 2010014 1999033 1993026 1995028 1999030 1990049 2003041 2001043 2008015 2003043 2007005 2003045 2003044 2006042 2004045 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
267 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency 77,331,860 4,548,933 7,604,451,199 Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency JPKJPK 6,786,377JPK 11,229,418,021 10,032,204 16,600,287,958 11,572,440 19,148,916,470 468,026 385,854 765,058,701 634,286,098 98,028,046 899,472 159,801,434 6,318,351 1,470,321,905 9,646,350 10,562,387,366 163,406,023 16,125,803,294 10,672,968 17,842,000,588 JPKJPK 16,987,600 28,109,381,726 8,693,643 14,385,371,072 849,380 1,402,836,008 328,062 271,716,662 16,138,220 539,284,719 26,978,262,380 138,655,404 8,365,581 13,984,741,757 JPK 141,680 234,437,895 14,168 23,159,722 1,883,636 127,512 213,161,809 JPKJPK 3,664,332 6,063,370,160 2,324,510 3,846,366,697 407,148 668,862,734 464,902 50,527,067 763,741,006 3,257,184 26,081,003 5,445,034,493 1,859,608 3,108,706,694 JPKJPK 1,292,175JPK 2,138,161,953 143,895 1,996,816 238,103,058 3,304,131,435 172,290 281,633,849 95,930 249,602 15,583,630 156,811,975 403,394,272 1,119,885 20,080,481 -1,107,991 1,872,111,735 1,747,214 47,965 2,920,817,643 80,183,093 JPK 1,385,020 2,291,792,595 131,944 215,682,260 18,656,815 1,253,076 2,094,767,151 JPKJPK 171,336 1,085,778 283,509,679JPK 1,796,636,857 160,470 265,529,709 114,224 120,642 186,716,262 198,190,678 -1,319,287 14,971,672 32,094 965,136 57,112 52,724,023 1,613,417,851 95,474,131 1,800,473 128,376 214,606,159 JPK 25,154,353 41,622,907,484 1,070,398 1,749,726,091 387,965,751 24,083,955 40,261,147,145 JPK 4,548,933 7,527,119,339 JPK 175,518 290,429,635 50,148 81,974,428 1,125,823 125,370 209,581,030 JPKJPK 876,480 1,090,157 1,450,311,449 1,803,882,788 73,200 41,138 120,252,960 67,624,701 12,784,680 803,280 17,386,976 1,049,019 1,342,843,169 1,753,645,063 Loan Currency Currency Project Name Name Project Small Scale Infrastructutre Small Scale Infrastructutre & Upgrading Rehabilitation II (SIRUP Southern Highway Project Construction Small Scale Infrastructure Small Scale Infrastructure & Upgrading Rehabilitation Southern Highway Southern Highway (II Project Construction Affected Sri Tsunami Lanka off Take & Recovery Area Project (STAART Telecom.NetWork Telecom.NetWork Metro Expansion – Colombo Telecom. Network Expan Network Telecom. in Colombo Project The Regional Dev. Telecommunications Project Towns North of Colombo Colombo North of Towns Supply Project Water Towns East of Colombo Colombo East of Towns Supply Projet Water Tourism Resources Resources Tourism Project Improvement Transmission & Substation Transmission II Dev.Project Transmission & Grid Transmission Substation Dev.Project & Substation Transmission Dev.Project Sys. Transmisson & Dev. Augmentation Project Upper Kotmale Hydro Hydro Upper Kotmale Project Power Upper Kotmale Hydro Hydro Upper Kotmale II Project Power Upper kotmale Upper kotmale (Eng. S Power Hydroelectric Vavuniya Kilinochchi Vavuniya Line Project Transmission Urgent Upgrading of of Upgrading Urgent Porject Port Colombo Financial Statements 1997032 1990012 1992010 1997052 2010017 1993027 1990010 1999034 1993025 1996055 1998053 1998055 2005041 2001045 2008013 2003046 2006043 2004044 2005040 2002040 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
268 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency 23,194,809 1,364,401 2,280,868,347 Parity Parity -321,878,979 42,917,197 6,733,708,247 -141,200,222 18,826,696 2,953,908,642 Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency JPK 1,364,401 2,257,673,538 JPK 852,040 1,409,870,588 121,720 199,961,616 10,966,972 730,320 1,220,875,944 JPK 8,067,440 13,349,192,965 403,372 666,209,195 129,038,703 7,664,068 12,812,022,473 JPK 110,916 183,532,707 18,486 30,531,478 1,514,003 92,430 154,515,232 JPK 3,362,320 5,563,630,893 420,290 679,251,684 33,812,330 2,942,030 4,918,191,540 JPK 11,940,159 19,757,381,093 645,414 1,055,025,995 179,070,114 11,294,745 18,881,425,212 KRK 3,266,160 536,956,704 408,270 63,113,364 -25,440,399 2,857,890 448,402,941 KRK 1,257,990 206,813,557 503,196 76,758,031 -11,628,346 754,794 118,427,179 KRKKRK 42,917,197 7,055,587,226 18,826,696 3,095,108,864 KRK 6,237,682 1,025,474,921 337,172 52,573,087 -47,111,815 5,900,510 925,790,019 KRK 12,253,137 2,015,401,301 4,181,634 669,117,972 -105,903,677 16,434,771 2,578,615,597 KRKKRK 1,385,195 22,916,218 227,726,057 3,767,426,240 554,078 1,762,786 84,519,623 276,165,070 -172,287,689 -12,804,177 21,153,432 831,117 3,318,973,481 130,402,257 KRK 12,786,246 2,102,058,842 774,924 120,828,974 -96,653,447 12,011,322 1,884,576,421 KRK 19,027,378 3,233,122,008 10,832,133 1,675,781,623 -223,946,334 29,859,511 4,684,957,298 KRKKRK 14,252,233 2,343,067,186 1,536,568 259,557,102 307,314 43,577,085 950,150 146,881,140 -109,089,147 13,302,083 2,087,096,899 -13,829,114 1,843,881 289,305,074 KRK 16,616,040 2,731,676,977 949,488 148,047,628 -125,547,339 15,666,552 2,458,082,009 Loan Currency Currency Project Name Name Project Housing Project for Public Housing Project Servants Horana Area Telecom. Area Horana Improvement Facility Hatton-Nuwara Eliya Eliya Hatton-Nuwara Project Improvement (Supplementary Loan Hatton – Nuwara Eliya Road Road Eliya – Nuwara Hatton Project Improvement Greater Galle Water Water Galle Greater Phase II Supply Project (Supplementary Establishment of Colombo Colombo Establishment of Training Vocational Central & Gampaha College Center in Sri Project Technology of Lanka Expansion of Telecom Telecom Expansion of Gampaha Centre Supply Water Galle Greater Project Greater Galle Water Supply Water Galle Greater Phase II Project Vavuniya Kilinochchi Vavuniya – Line Project Transmission Phase II Deduru Oya Water Supply Water Deduru Oya Project Walawe Left Bank Irrga. Bank Irrga. Left Walawe .Project & Exten Upgra Balangoda -Bandarawela Balangoda -Bandarawela Project Rehabilitation Road Waste Solid of Construction Project Disposal Facilities Water Sector Development Development Sector Water (II Project Walawe L.B. Irrgat Walawe Project & Exp. .Upgrading Administrative Complex in Complex Administrative Project Hambantota Walawe Left Bank Irriga. & Left Walawe (II Project Exten Water Sector Development Development Sector Water Project Financial Statements 2015011 1994019 2013031 2010041 2011004 1996043 1996039 1996054 1996038 1995029 2007013 2013033 2014038 2001048 2008014 2007006 2005042 2003048 2006044 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE Government of Korea of Government
269 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency -96,925,672 12,923,423 2,027,685,049 Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency KRKKRK 87,048,316 14,310,743,124 6,220,746 1,022,690,642 2,176,243 341,756,248 460,796 -652,558,622 84,872,073 71,848,991 13,316,428,254 -47,105,496 5,759,950 903,736,155 KRK 12,267,744 2,016,817,113 721,632 112,554,926 -92,677,215 11,546,112 1,811,584,972 KRK 9,804,784 1,611,906,489 1,225,598 189,461,907 -76,370,299 8,579,186 1,346,074,283 KRK 12,923,423 2,124,610,721 KRK 75,883,150 12,475,189,926KRK 8,328,330 1,369,177,445 3,794,186 591,603,315 -572,828,159 72,088,964 416,426 11,310,758,452 64,930,636 -62,869,071 7,911,904 1,241,377,738 KWD 498,836 299,983,914 88,835 52,060,618 -2,277,614 410,001 245,645,683 KWD 142,706 85,818,955 175,440 103,738,345 1,056,994 318,147 190,614,294 KWD 311,922 187,580,007 1,096,509 645,016,887 11,250,204 1,408,431 843,847,098 KWD 8,509,313 5,117,233,642 240,686 134,527,147 500,000 292,065,464 -16,824,916 8,250,000 4,942,870,409 KWDKWD 1,490,756 896,493,580 576,000 270,401 346,388,318 157,036,795 96,000 1,648,960 56,076,569 1,761,157 -2,726,560 1,055,179,335 480,000 287,585,188 KWDKWD 804,650 1,400,000KWD 483,891,247 841,916,041 2,608,498 1,568,669,022 114,950 100,000 67,419,273 150,000 58,680,115 -3,248,010 88,020,173 -4,359,385 689,700 1,300,000 -7,674,452 413,223,963 2,458,498 778,876,541 1,472,974,397 KWD 3,818,374 2,296,250,049 300,000 176,040,346 -12,211,105 3,518,374 2,107,998,598 Loan Currency Currency Project Name Name Project Ruhunupura Water Supply Water Ruhunupura Project Development Upgrading of Niyagama Niyagama of Upgrading Training National Vocational Project Centre & Bridges Reconstruction Project Rehabilitation Re-Engineering Govenment Govenment Re-Engineering e-Sri Lanka of Component Project Building Complex for the Building Complex Healthcare of Faculty University Eastern Sciences, Ratnapura-Balangoda Road Road Ratnapura-Balangoda Rehabilitation Kalu Ganga Development Ganga Development Kalu (Supplementary Project Kalu Ganga Development Ganga Development Kalu Project Improvement of Padeniya- Padeniya- of Improvement Project Road Anuradhapura (Supplementary Loan Improvement of Padeniya- Padeniya- of Improvement Project Road Anuradhapura Network Government Lanka Stage II Project Rehabilitation of Irrigation of Rehabilitation Schemes – Hambanthota Reconstruction of 25 of Reconstruction Bridges Project Rural Electrification Project Electrification Project Rural V University South Eastern development Sri lanka of phase I "A" Project South Eastern University University South Eastern Development Sri lanka of Phase I "B" Project Strengthening of Tertiary Tertiary of Strengthening Administrative & Education Tsunami in Infrastructure Areas Affected Financial Statements 1999017 1995013 2016017 2011030 2017033 1996042 2007041 2012027 2007016 2014002 2008041 2001050 Project Medical Equipment KRK 634,086 104,243,738 211,362 32,673,885 -5,244,458 422,724 66,325,395 2005046 2005048 2009004 2000023 2009002 2008040 Loan Key Government of Kuwait of Government NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
270 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 50,892,926 421,590,076 31.12.2019 Closing Balance as at Closing Balance 980,000 1, Loan Amount Currency Currency -37,179,668 6, -68,911,955 12,937,325 2,634,895,817 -26,392,737 19,919,617 387,436,558 Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency SEK 19,919,617 413,829,294 EUR 12,937,325 2,703,807,772 EUR 8,201,170 1,713,985,571 1,332,450 275,596,841 -47,869,862 9,533,621 1,941,712,550 EUR 37,596,643EUR 7,857,427,690EUR 3,661,817 6,980,000 765,293,343 1,458,769,744 1,220,606 242,209,647 -25,891,486 2,441,211 -200,262,279 37,596,643 497,192,210 7,657,165,411 USD 118,053,050 21,574,183,065 23,610,610 4,228,025,122 -192,199,810 94,442,440 17,153,958,133 USD 960,000 175,439,904 80,000 14,114,008 -1,487,976 880,000 159,837,920 USD 1,660,507 303,457,453 129,498 23,087,987 -2,286,251 1,531,009 278,083,215 USDUSD 2,293,841 3,284,053 419,199,153 600,160,429 191,153 290,920 34,527,905 52,103,425 -2,751,749 -4,402,279 2,102,688 2,993,133 381,919,499 543,654,725 USD 3,880,141 709,095,323 298,472 53,912,853 -4,629,724 3,581,669 650,552,746 USD 651,229 119,012,072 48,199 8,659,923 -821,374 603,030 109,530,775 USD 585,554 107,009,968 76,366 13,669,276 -854,891 509,188 92,485,801 USD 484,339 88,513,024 44,775 8,052,564 -620,544 439,564 79,839,916 Loan Currency Currency yovers yovers Project Name Name Project Irrigation Systetm Irrigation Systetm Russian Line of Credit ( Credit Line of Russian Russia up Design Supply & Setting Treatment Water Two of Plants at Galle & Negambo Pakistan Line of Credit Credit Line of Pakistan (Pakistan Managememt Project implementation of implementation of Intergrated Anamaduwa Supply Project Water Import of Wheat- PL Wheat- PL Import of 1 , 2000 480-Title System Irrgation Managment Project Import of Wheat- PL 480 Wheat- PL Import of 2001 Title 1, FY Supply of Three Fl Three Supply of in Ganemulla, Polgahawela in Ganemulla, Polgahawela (Bilateral and Rajagiriya Portion The Supply & Construction The Supply & Construction Metal Pre-Fabricated of Bridges The Supply & Construction The Supply & Construction Metal Pre-Fabricated of Bridges Diversified Agriculture Agriculture Diversified Project Research Diversified Agriculture Agriculture Diversified Project Research Education Reforms in Reforms Education Plantation Schools Agricultural Planning & Agricultural Project Analysis Financial Statements 1986011 1979018 Inputs Project Agricultural USD 669,355 122,324,617 669,303 119,212,623 -3,102,502 52 9,492 1984014 1991003 1987027 1984074 1986010 2010018 2015032 2001047 2016023 2006071 Credit Line of Pakistan USD 12,196,183 2,228,851,210 652,975 115,195,952 3,759,839 662,997,611 -30,156,624 9,089,319 1,6 1980029 Inputs Project Agricultural USD 464,621 84,909,532 232,692 41,562,424 -1,220,899 231,929 42,126,209 2007001 2000031 2004072 2006087 2006086 Loan Key Government of Russia of Government Spain of Government Government of Pakistan of Government NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE Government of Sweden of Government Government of the United States of America of States the United of Government
271 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 410,506,437 31.12.2019 Closing Balance as at Closing Balance Loan 2,260,075 Amount Currency Currency Parity Parity Adjustment Rs. 22,564 4,036,312 -367,717 251,449 45,671,735 857,961 152,823,620 -6,490,646 Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments 50,075,764 Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency USDUSD 379,300USD 652,576 69,317,159 522,809 119,258,268 95,543,241 148,340 78,823 26,661,679 522,809 14,059,313 -705,271 94,114,510 -985,890 230,960 -1,428,731 573,753 41,950,209 104,213,065 -0 – USD 294,575 53,833,656 41,692 7,489,809 -411,683 252,883 45,932,164 USD 3,477,137 635,446,568 654,641 117,161,568 -5,623,499 2,822,496 512,661,502 USD 589,768 107,780,135 83,473 14,977,319 -842,246 506,295 91,960,570 USD 1,587,672 290,146,835 117,507 21,033,431 -2,081,602 1,470,164 267,031,802 USD 69,285 12,661,775 7,270 1,302,874 -95,061 62,015 11,263,840 USD 7,683,296 1,404,121,493 1,002,036 179,228,491 -11,349,146 6,681,260 1,213,543,856 USD 4,718,148 862,241,042 667,779 119,818,526 -6,737,980 4,050,369 735,684,536 USD 1,141,191 208,552,601 446,308 80,095,462 -2,242,791 694,883 126,214,348 USD 491,583 89,836,743 135,265 24,203,591 -913,563 356,318 64,719,589 USDUSD 2,756,222 4,146,324 503,699,333 757,740,296 309,707 1,140,905 55,430,273 204,217,183 -3,898,789 2,446,515 -7,636,894 3,005,419 444,370,271 545,886,219 USD 6,328,700 1,156,569,316 1,074,943 193,034,406 -9,273,985 5,253,757 954,260,925 USDUSD 1,436,405 262,502,772 274,013 117,172 20,779,235 -2,106,096 1,319,233 239,617,441 Loan Currency Currency Project Name Name Project Reforestation & Watershed Watershed & Reforestation Management Project Wheat PL Supply of 1 -1979 480-Title Reforestation & Watershed Watershed & Reforestation Management Project Private Enterprise Enterprise Private Project Promotion Mahaweli Sec. Support ( Mahaweli Expenditure Rupee Mahaweli Development Development Mahaweli Phase 2 & Maduruoya Project Mahaweli Downstream Downstream Mahaweli Support Project Mahaweli Dev. Phase 2- Dev. Mahaweli Sys.B.Project Maduroya Mahaweli Dev.Phase 2- Dev.Phase Mahaweli Sys.B.Project Maduroya Mahaweli Dev. Phase 2- Dev. Mahaweli Sys.B.Project Maduroya Mahaweli Basin Mahaweli Phase I Development Jaffna Market Town Water Water Jaffna Town Market Supply Mahaweli Basin .Dev. Ph-2 ( Ph-2 Basin .Dev. Mahaweli Sys.B Mad.Oya Mahaweli Basin Dev. Phase Basin Dev. Mahaweli 2 Maduruoya Mahaweli Basin Mahaweli Phase 2 Development Mahaweli Agriculture & Rural & Rural Agriculture Mahaweli Developmemt Mahaweli Agriculture & Rural & Rural Agriculture Mahaweli Developmemt Financial Statements 1980115 1997013 1997Title 1 for FY 480 PL USD 3,438,781 628,437,013 382,087 67,128,724 -6,108,576 3,056,694 555,199,713 1978016 Project Malaria Control USD 512,408 93,642,625 339,056 60,700,329 -1,455,618 173,352 31,486,678 1979012 1983013 1987010 1981024 1981084 Sector Support Mahaweli USD 3,118,036 569,820,703 1982100 1984072 Project Malaria Control USD 590,580 107,928,397 58,080 10,388,743 -819,545 532,500 96,720,109 1979068 Project Malaria Control USD 662,859 121,137,408 182,392 32,773,228 -1,095,171 480,467 87,269,009 1987009 1984007 Project Control Malaria USD 1,079,088 197,203,254 121,253 21,667,624 -1,560,290 957,835 173,975,340 1998007 1998Title 1 for FY 480 PL USD 3,819,812 698,070,224 381,981 67,532,976 -6,110,324 3,437,831 624,426,924 1988087 1982094 1982093 1983083 1983084 Project Malaria Control USD 1,315,974 240,494,136 203,332 36,245,910 -2,154,481 1,112,642 202,093,745 1980027 1983082 Sec. Support Mahaweli USD 4,752,241 868,471,485 672,605 119,525,723 -7,945,264 4,079,636 741,000,498 1984084 1984006 1980026 1984008 1980028 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
272 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency USD 439,621 80,340,761 30,937 5,534,143 -575,655 408,684 74,230,963 USD 767 140,248 49 8,720 -1,140 718 130,389 USDUSD 466,347 1,249,469 85,224,642 228,340,524 60,819 122,877 10,857,103 21,992,158 -710,207 -1,720,857 1,126,592 405,528 204,627,509 73,657,332 USD 3,185,438 582,138,511 398,180 69,541,181 -6,347,534 2,787,259 506,249,796 USD 5,675,072 1,037,118,863 810,725 146,535,958 -7,052,007 4,864,347 883,530,898 USD 4,481,912 819,068,813 746,985 135,653,332 -5,025,940 3,734,927 678,389,541 USDUSD 614,372USD 2,161,635 112,276,406 2,063,127 395,038,588 377,036,107 204,791 540,409 36,978,512 412,625 97,986,698 -904,007 -2,582,073 72,764,192 1,621,226 409,581 -4,484,824 1,650,502 294,469,817 74,393,887 299,787,091 USD 13,895,655 2,539,429,478 1,157,971 208,681,232 -17,151,870 12,737,684 2,313,596,376 USDUSD 7,974,629 11,868,331 1,457,362,747 2,168,936,423 797,463 1,106,112 144,722,857 199,778,156 -9,022,416 -14,373,174 7,177,166 10,762,219 1,303,617,474 1,954,785,093 USD 6,416,420 1,172,599,993 727,615 132,293,075 -7,026,532 5,688,805 1,033,280,386 USDUSD 5,582,500 1,020,201,430 8,088,737 1,478,215,876 829,695 1,063,290 148,772,303 192,498,414 -8,158,182 4,752,805 -9,657,400 7,025,447 863,270,945 1,276,060,062 USD 4,391,891 802,617,732 731,982 129,411,925 -8,441,801 3,659,909 664,764,006 USDUSD 2,149,588 3,409,024 392,837,021 622,998,872 537,397 681,805 97,166,110 119,786,086 -2,842,185 -7,856,983 1,612,191 2,727,219 292,828,726 495,355,803 USD 1,639,178 299,559,632 546,393 99,158,850 -1,913,795 1,092,785 198,486,987 USD 1,503,835 274,825,636 751,917 135,953,285 -2,298,611 751,918 136,573,740 Loan Currency Currency Project Name Name Project Water Supply & Sanitation Water Project Water Supply & Sanitation Water Project Project Project Supply & Sanitation Water Project Water Supply & Sanitation Water Supply of Wheat PL Wheat PL Supply of 1 -1996 480-Title Supply of Wheat PL Wheat PL Supply of 1 -1995 480-Title Supply of Wheat PL Wheat PL Supply of 1 -1994 480-Title Supply of Wheat PL Wheat PL Supply of 1 -1991 480-Title Wheat PL Supply of 1 -1992 480-Title Wheat PL Supply of 1 -1993 480-Title Supply of Wheat PL Wheat PL Supply of 1 -1990 480-Title Supply of Wheat PL Wheat PL Supply of 1 -1988 480-Title Wheat PL Supply of 1 -1989 480-Title Supply of Wheat PL Wheat PL Supply of 1 -1987 480-Title Supply of Wheat PL Wheat PL Supply of 1 -1985 480-Title Wheat PL Supply of 1 -1986 480-Title Supply of Wheat PL Wheat PL Supply of 1 -1984 480-Title Supply of Wheat PL Wheat PL Supply of 1 -1982 480-Title Wheat PL Supply of 1 -1983 480-Title Supply of Wheat PL Wheat PL Supply of 1 -1981 480-Title Supply of Wheat PL Wheat PL Supply of 1 -1980 480-Title Financial Statements 1979017 Management Project Water USD 379,893 69,425,312 251,371 45,007,258 -1,074,307 128,522 23,343,747 1984013 1991042 1989019 1983016 1984016 1982019 1981026 1982018 1987026 1995055 1992024 1989054 1983089 Management Project Water USD 331,096 60,507,753 39,992 7,141,351 -492,095 291,104 52,874,307 1984068 1993006 1988046 1994040 1980034 Management Project Water USD 412,838 75,446,118 58,431 10,487,238 -586,460 354,407 64,372,420 1994002 1986002 1986004 1985009 1980030 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
273 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency 5,507,825 250,000 45,407,900 -15,768,417 14,080,201 2,557,386,944 Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency JPK 4,480,000 7,413,055,999 1,120,000 1,849,960,000 53,816,000 3,360,000 5,616,911,999 EUR 53,885,858 11,262,914,259 2,044,407 413,429,364 8,151,988 1,635,473,561 -309,868,271 47,778,278 9,731,001,791 EUR 8,437,185 1,763,310,917 3,374,874 679,166,394 -53,122,879 5,062,311 1,031,021,645 USD 2,055,000 375,551,045 1,370,000 243,637,307 -7,494,448 685,000 124,419,290 USD 109,620,909 20,033,210,379 5,000,000 906,399,500 6,644,662 1,185,617,265 -142,266,872 107,976,247 19,611,725,743 USD – – 250,000 39,900,075 USD – – 694,622 121,944,399 4,219,830 694,622 126,164,228 USDUSD 35,314,327 6,453,689,715 15,702,227 2,894,323,339 4,414,290 5,448,882 785,108,998 -56,083,566 974,742,961 30,900,037 -57,265,356 5,612,497,151 10,253,345 1,862,315,021 USD 14,080,201 2,573,155,361 USD 50,583,637 9,244,154,623USD 2,881,484USD 526,590,964 5,951,016 90,004,800 3,700,000 1,062,491,744 16,448,368,199 669,622,920 -74,861,403 44,632,621 8,106,801,476 5,997,600 1,070,161,064 -818,895 -119,643,370 6,581,484 84,007,200 15,258,563,765 1,195,394,990 Loan Currency Currency Project Name Name Project Regional Bridge Project Bridge Project Regional HSBC Bank Plc(UK Establishment of Dairy Establishment of Plant at Processing Badalgama of Supply & Installation Drip 5000 Solar Powered Irrigation & Fertilising (Australia Systems the of The Development Fisheries Harbour Dikkowita (Netherlands Metro Colombo Urban Colombo Metro Development PPF-Programmematic PPF-Programmematic No – P Advance Preparation 4940 Primary Health Care System System Primary Health Care Project Strengthening Construction of 210 of Construction Steel Rural Permanent Bridges Processing Modernization of (Pvt Ltd MILCO of Factories Regional Bridges Project- Regional Credit Phase II-Buyer's Facility Procurement of 09 Nos of Procurement for Diesel multiple Unit Line Operation Upcountry SLR of Higher Accelerating Expansion and Education Operation Development (AHEAD Programme Risk Management Disaster with a Loan Dev.Policy Draw Differed Catastrophy Option CAT-DDC Down Financial Statements 2012011 2017019 2014013 2013012 2015019 2018015 2019001 2013027 2012023 2018036 2007027 2008037 2008024 Loan Key HSBC (With Guarantee of EKF Denmark EKF of HSBC (With Guarantee HSBC Bank PLC (UK HSBC Bank PLC HSBC Limited (Hongkong HSBC Limited Bank World IBRD of NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
274 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency -70,956,721 30,296,196 7,609,462,279 Parity Parity -33,492,030 14,300,000 3,591,715,270 Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency XDR 30,296,196 7,680,419,000 XDR 15,921,375 4,036,243,758 1,273,708 312,800,192 -44,405,099 14,647,667 3,679,038,467 XDR 8,223,876 2,084,843,026 685,318 170,752,064 -20,639,644 7,538,558 1,893,451,318 XDRXDR 3,531,303 5,250,045 895,224,055 1,330,944,158 371,710 299,998 91,532,299 75,146,979 -10,100,356 -12,499,319 3,159,593 4,950,047 793,591,400 1,243,297,860 XDR 3,345,000 847,994,292 1,816,600 461,403,685 -12,958,907 5,161,600 1,296,439,069 XDR 11,360,359 2,879,975,998 1,195,824 298,504,149 -28,456,747 10,164,535 2,553,015,102 XDR 8,439,331 2,139,463,206 2,907,974 695,970,809 14,668,474 11,347,305 2,850,102,489 XDR 53,541,416 13,573,337,691 858,398 208,270,576 -132,731,599 52,683,018 13,232,335,516 XDR 5,538,381 1,404,040,665 582,988 143,137,047 -16,262,736 4,955,393 1,244,640,882 XDRXDR 6,627,856 1,680,234,498XDR 15,417,553 3,908,519,256 24,885,131XDR 6,308,654,405 14,300,000 3,625,207,300 234,174 57,772,595 770,878 2,619,488 187,105,386 -16,567,934 6,393,682 648,265,130 -42,624,556 1,605,893,969 14,646,675 -67,952,119 3,678,789,314 22,265,643 5,592,437,156 USD 1,923,552 351,528,925 226,300 40,527,614 -2,722,651 1,697,252 308,278,660 Loan Currency Currency Project Name Name Project 2nd & 3rd Additional Additional 2nd & 3rd Financing for Community in Conflict Livelihood Areas Affected 2nd Power Distribution & 2nd Power Project Transmission 2nd Rural Development Development 2nd Rural Project 2nd Vocational Training Training 2nd Vocational Project 2nd Smallholder Rubber 2nd Smallholder Rubber Project Rehabilitation Accelerating Higher Accelerating Expansion and Education Operation Development (AHEAD Programme 4th Development Finance Finance 4th Development Project Corperation 3rd Industrial Development Industrial Development 3rd Project Additional Financing Additional Resilience for Climate Project Improvement Additional Financing Additional Water for Dam Safety & Planning Project Resources Additional Financing Additional Sector Education For Project Development Additional Financing for Additional Development Lanka E-Sri Project Financing Additional North East Housing For Project Reconstructions Financing for Additional North East Local Services Project Improvement (NELSIP Additional Financing For Financing For Additional Development Health Sector Project Financial Statements 1981001 2017017 2011037 1986013 1986014 Project 9th Power XDR 18,258,227 4,628,661,375 1,014,344 251,381,410 -46,152,851 17,243,883 4,331,127,114 1991030 2015031 1977005 1988086 1988085 2016028 2009014 2014020 2012004 2008034 2008035 Loan Key IDA of World Bank World of IDA NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
275 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 18,163,400,000
31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency 100,000,000 Parity Parity -111,590,000 Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency XDR 56,610,202XDR 14,351,308,959 3,120,116 790,983,671 3,326,244 815,362,390 5,958,968 1,487,490,524 -141,803,831 50,651,234 12,722,014,604 12,779,106 6,446,360 1,619,125,167 XDR 6,607,060 1,674,962,291 367,056 90,142,470 -17,522,815 6,240,004 1,567,297,006 XDR 3,792,551 961,453,336 303,400 75,999,150 -9,088,027 3,489,151 876,366,159 XDR 11,678,193 2,960,550,345 707,764 174,742,086 -30,377,715 10,970,429 2,755,430,544 XDRXDR 12,496,894 3,168,099,968 48,312,399 1,633,225 12,247,724,621 413,092,990 2,366,100 583,733,795 -32,131,059 14,130,119 -123,658,928 45,946,299 3,549,061,899 11,540,331,897 XDR 39,045,000 9,898,336,995 4,110,000 1,025,947,009 -97,804,465 34,935,000 8,774,585,521 XDRXDR 5,817,719 9,324,984 1,474,855,738 2,363,986,063 401,220 666,068 98,983,841 166,844,444 -15,415,824 -22,291,169 5,416,499 8,658,916 1,360,456,073 2,174,850,450 XDR 5,208,641 1,320,447,706 548,276 135,011,063 -14,897,974 4,660,365 1,170,538,669 XDR 9,084,335 2,302,978,898 2,174,197 529,465,200 -4,638,661 11,258,532 2,827,805,437 XDR 27,417,587 6,950,659,694 596,034 148,506,410 -65,413,643 26,821,553 6,736,739,641 XDR 9,548,771 2,420,718,092 217,018 53,782,700 -23,089,515 9,331,753 2,343,845,877 USDUSD 4,338,962 2,507,275 792,944,856 458,204,220 619,852 238,786 110,864,165 42,882,025 -6,563,829 3,719,110 -3,287,499 2,268,489 675,516,862 412,034,696 USD – – 2,300,000 406,197,250 11,551,750 2,300,000 417,749,000 USD 100,000,000 18,274,990,000 USD 39,259 7,174,567 39,259 6,723,678 -450,889 – – Loan Currency Currency Project Name Name Project Additional Financing For Financing For Additional Assistence Sector Road Project Additional Financing Additional Cities for Strategic Project Development Agricultural Development Development Agricultural Project & Extention Agricultural Project Reserch Research Agricultural Project Construction Industry Industry Construction Project Colombo Environmental Environmental Colombo Project Improvement Climate Resilience Resilience Climate Management- Improvement CRIP Agriculture Sector Sector Agriculture Modernization Project Smart Irrigated Climate Project Agriculture Dam Safty & Water Water & Dam Safty Planning Resources Colombo Urban Tranport Tranport Urban Colombo Project supply & Water Community Sanitation Project Competitiveness Competitiveness and Fiscal Transparency Sustainability Development Financing Policy Drainage & Land Drainage Project Reclamation Development E – Sri Lanka Project Distribution & Transmission Transmission Distribution & Project Early Childhood Project Development Economic Reform Technical Technical Reform Economic Project Assistance Financial Statements 1993017 1974001 Project Dairy Development USD 683,514 124,912,112 124,000 22,148,502 -1,136,847 559,514 101,626,763 1992041 2017001 1969001 2019021 1981002 2014010 1979003 1995023 1987005 1975002 2016027 1988045 2016030 2015030 2004021 2008031 2001020 Learning Project Distance XDR 891,616 226,034,421 21,228 5,241,047 -2,179,019 870,388 218,614,355 2008036 2003020 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
276 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency -95,781,132 40,895,407 10,271,654,329 -17,793,908 7,597,416 1,908,234,604 -57,908,783 24,725,154 6,210,189,680 Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency XDR 40,895,407 10,367,435,461 XDRXDR 12,498,159 3,168,420,720 7,708,823 1,954,271,397 675,574 168,638,231 416,692 -30,316,383 104,015,550 11,822,585 -18,699,355 2,969,466,106 7,292,131 1,831,556,492 XDRXDR 36,729,418XDR 9,311,311,543 5,399,132XDR 11,971,527 1,368,739,307 3,960,468 3,034,913,691 7,597,416 979,995,650 1,926,028,512 3,193,678 788,534,149 1,330,158 -99,642,412 33,535,740 327,546,793 5,866,595 8,423,134,982 9,359,600 -34,586,042 10,641,369 2,354,601,552 2,672,780,856 XDRXDR 138,500 1,919,020 35,111,274 486,492,661 4,337,358 1,086,503,667 137,068 33,841,152 2,586,404 4,475,858 -5,080,603 1,124,201,344 1,781,952 447,570,906 XDRXDR 3,335,302 16,376,757 845,535,757 4,151,688,009 317,640 1,310,140 77,905,655 327,039,956 -40,382,469 -9,687,245 15,066,617 3,017,662 3,784,265,584 757,942,857 XDR 3,054,297 774,297,880 321,496 79,167,273 -8,735,993 2,732,801 686,394,614 XDR 25,550,512 6,477,336,035 574,168 143,058,420 -60,996,787 24,976,344 6,273,280,828 XDR 24,725,154 6,268,098,463 XDRXDR 2,699,994 9,799,675 684,478,239 2,484,325,538 64,284 236,136 15,871,279 57,991,018 -6,598,520 -24,271,013 2,635,710 9,563,539 662,008,440 2,402,063,507 XDR 10,048,500 2,547,405,284 693,000 171,096,956 -26,497,683 9,355,500 2,349,810,645 USD – – 4,331,214 764,780,473 21,897,926 4,331,214 786,678,399 USD 5,396,392 986,190,144 513,938 92,654,208 -6,716,241 4,882,454 886,819,695 Loan Currency Currency Project Name Name Project Emergency Northern Emergency Project Recovery Energy Services Delivery Delivery Services Energy Project Action Environmental 1 Project Emergency Additional Additional Emergency Commiunity Financing For in Conflict Livelihoods Arease Affected Economic Restructuring Restructuring Economic Credit Conservation Ecosystem and Management Project Reconstruction Emergancy Project & Rehabilitation Forest Resources Resources Forest Project Development Financial Sector Financial Sector Madernization Project Forest Sector Development Development Sector Forest Project Small & Medium Forth Industries Project General Education Education General Modernisation Project Planning Health & Family Project Improving Relevance & Relevance Improving Undergraduate Quality of Education Higher Education for the Higher Education Project First Century Twenty Land Titling & Related Titling & Related Land Project Services Legal & Judicial Reforms Judicial Reforms Legal & Project Industrial Devlopment Industrial Devlopment Project Kurunegala Rural Rural Kurunegala Development Project Development Financial Statements 1973001 Project Power Fifth USD 810,000 148,027,419 180,000 32,325,030 -1,272,969 630,000 114,429,420 1991023 1979001 1988014 1997023 1983001 1997022 2001021 1997002 Project Health Services XDR 7,201,970 1,825,778,637 400,106 98,524,713 -18,837,205 6,801,864 1,708,416,719 2017024 1989069 1988007 1983003 2018033 2016029 1985006 Project Crops Tree Forth XDR 27,967,500 7,090,068,893 1,695,000 424,583,274 -66,650,693 26,272,500 6,598,834,926 1990003 Project Education General XDR 16,940,000 4,294,476,340 1,540,000 378,196,805 -48,278,475 15,400,000 3,868,001,060 1990009 2010024 2010003 2010002 2003022 2000036 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
277 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency -298,701 84,600 2,305,993 -1,381,292 83,249 19,851,527 -77,176,964 32,952,036 8,276,526,637 Parity Parity -147,428,548 62,947,162 15,810,369,431 Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency XDR 32,484,731 8,235,236,744 1,665,882 417,289,460 -77,210,779 30,818,849 7,740,736,505 XDRXDR 5,321,558XDR 1,349,073,368 4,615,142XDR 8,772,363 1,169,989,148 47,012,000 2,223,890,588 11,918,059,131 332,596 263,720 81,679,700 701,780 1,022,000 65,061,610 -14,321,691 175,179,827 4,988,962 252,922,367 -11,985,776 1,253,071,977 -21,631,236 -113,879,055 4,351,422 45,990,000 8,070,583 1,092,941,762 11,551,257,709 2,027,079,525 XDR 32,952,036 8,353,703,601 XDR 15,295,615 3,877,606,541 373,062 91,617,440 -37,907,992 14,922,553 3,748,081,109 XDRXDR 80,723,000 20,464,168,453 22,855,207XDR 5,794,046,298 27,647,590 7,008,968,100 1,814,000 451,971,555 1,576,218 -192,710,168 386,998,304 78,909,000 1,579,858 19,819,486,730 -62,427,816 21,278,989 389,762,270 5,344,620,178 -71,802,346 26,067,732 6,547,403,484 XDRXDR 45,243,823 11,469,806,828 8,594,468 2,178,792,155 3,687,316 925,700,566 904,680 -106,404,096 41,556,507 225,828,371 10,437,702,166 -21,528,422 7,689,788 1,931,435,362 XDR 21,039,963 5,333,862,010 2,629,996 649,327,840 -60,522,893 18,409,967 4,624,011,277 USDUSD 463,738 2,714,774 84,748,206 496,124,666 459,078 339,340 81,965,967 60,500,369 -1,935,741 -4,164,729 4,660 2,375,434 431,459,568 846,498 USD 809,828 147,996,041 124,588 22,282,053 -1,251,222 685,240 124,462,766 Loan Currency Currency Project Name Name Project Mahaweli Restructuring & Restructuring Mahaweli Project Rehabilitation Mahaweliganga Project Development (phase 2 Mahaweliganga Mahaweliganga Project Development Municipal Management Project National Irrigation Project Rehabilitation Major Irrigation Project Rehabilitation North East Housing Project Reconstruction North East Local Services North East Local Services – Pura Project Improvement Neguma North-East Irrigated North-East Irrigated Project Agriculture Poverty Reduction Support Reduction Poverty Credit Infrastructure Sector Private Project Development Private Finance Finance Private Project Development Industrial Sector Private Project Public Manufacturing Ent. Credit Adj. Capacity Public Sector Building Project Renewable Energy for Rural for Rural Energy Renewable Development Economic Project Financial Statements 1980110T.A.Project Mahaweliganga DKK 93,060 2,604,694 1970016 1998017 1993013 1991043 1975001 1991009 ProjectAlleviation Poverty XDR 13,157,183 3,335,490,530 1,052,568 262,744,281 -32,443,504 12,104,615 3,040,302,745 1980120T.A.Project Mahaweliganga GBP 91,575 21,232,819 1977002 1974002 Project Credit Programme USD 2,475,000 452,306,003 450,000 80,229,758 -4,267,395 2,025,000 367,808,851 1980001 ProjectT.A. Ganga Mahaweli USD 640,981 117,139,260 55,732 10,013,020 -825,077 585,249 106,301,162 1996035 1990047 1999058 2010001 Project Roads Provincial XDR 62,947,162 15,957,797,979 2007021 Housing Project Puttalam XDR 12,566,024 3,185,625,315 1,570,754 392,094,730 -31,860,459 10,995,270 2,761,670,126 1985005 1986008 2010043 2003021 2001024T.A Ganga Mahaweli EUR 226,384 47,312,616 20,357 6,487,743 1,135,754 206,027 41,960,627 2008033 2005020 2008020 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
278 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 0 9,346,012,360 31.12.2019 Closing Balance as at Closing Balance ,545,000 2,397,407,236 Loan Amount 37,210,07 Currency Currency -79,296,888 33,857,174 8,503,869,180 Parity Parity -121,433,640 51,848,188 13,022,652,260 Adjustment 466 -27,610,078 9 ,965 -91,902,907 Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency XDR 64,602,184 16,377,364,327 1,374,514 343,109,272 -153,430,814 63,227,670 15,880,824,241 XDR 38,046,252 9,645,143,232 836,182 207,227 XDR 17,257,791XDR 4,375,039,768 48,213,880 12,222,748,884 1,380,620 344,633,323 2,410,694 -42,554,955 15,877,171 602,202,121 3,987,851,490 -116,210,964 45,803,186 11,504,335,799 XDR 10,340,414 2,621,408,780 795,414 196,391, XDR 51,584,184 13,077,157,831 1,185,844 292,776,589 -125,885,683 50,398,340 12,658,495,559 XDR 51,848,188 13,144,085,900 XDR 32,740,758 8,300,142,354 1,560,000 380,558,525 851,400 208,832,604 -70,451,772 33,449,358 8,401,416,503 XDR 3,051,850 773,677,552 226,058 55,665,998 -8,260,479 2,825,792 709,751,075 XDR 33,857,174 8,583,166,068 XDR 37,853,947 9,596,392,051 1,992,310 490,599,425 -98,464,617 35,861,637 9,007,328,009 XDR 20,091,344 5,093,376,703 472,736 118,005,375 -47,787,143 19,618,608 4,927,584,185 XDR 125,476,243 31,809,607,943 4,262,493 1,049,624,302 -314,859,256 121,213,750 30,445,124,385 XDR 8,967,362 2,273,324,875 512,420 126,181,647 -23,524,779 8,454,942 2,123,618,449 USD 17,813,939 3,255,495,559 1,549,036 278,305,617 -22,930,563 16,264,903 2,954,259,379 USD 10,350,000 1,891,461,465 900,000 161,697,375 -13,322,790 9,450,000 1,716,441,300 USD 3,843,354 702,372,634 334,198 60,043,266 -4,947,253 3,509,156 637,382,115 USD 4,749,735 868,013,644 452,350 80,905,489 -6,556,880 4,297,385 780,551,275 Loan Currency Currency Project Name Name Project Road Sector Assistance Assistance Sector Road Project Second Telecommunications Telecommunications Second Project Seconed Community Community Seconed Livelihood Development Proj. Improvement Second Small & Medium Small & Medium Second Industries Project Road Passenger Transport Transport Passenger Road Project Second Additional Additional Second Financing Assistance Sector for Road Project Reneweble Energy for Rural for Rural Energy Reneweble Development Economic Project North East Irrigated Second (Yali Project Agriculture Pubudamu SL Second Water Supply & Water Second Project Sewerage Project- Skills Development A (Portion Second Agriculture Agriculture Second Project Extention Small & Medium Enterprise Small & Medium Enterprise Facility Development Project Small Holder Rubber Small Holder Rubber Project Rehabilitation Second General Education Education General Second Project Small & Medium Industries Project Sri Lanka Centeal Bank Centeal Sri Lanka Project Strengtherning Second Health Sector Health Sector Second Project Development Second Industrial Second Project Development Financial Statements 2011010 1991022 1997064 1982001 1979004 1992023 1979002 Project Maintenance Road USD 4,710,673 860,875,082 448,630 79,751,497 -6,991,605 4,262,043 774,131,980 1986007 2016043 Project Social Safety Nets XDR 2,161,815 548,043,854 109,040 27,347,688 -5,020,801 2,270,855 570,370,741 2014022 1980007 Project Sixth Power USD 6,536,268 1,194,502,271 568,366 102,114,767 -8,413,644 5,967,902 1,083,973,860 1982002 Project Power Seventh XDR 11,718,068 2,970,659,043 901,388 221,364,975 -32,480,543 10,816,680 2,716,813,525 2013030 1980003 2010044 1980006 1980004 2001022 2002022 2006020 2009020 2004020 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
279 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency -254,018 108,457 27,241,137 -5,127,802 287,881 68,647,466 -1,075,499 292,410 7,970,395 -110,126,373 47,042,449 11,815,651,933 Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency XDR 29,462,360 7,469,032,135 3,369,441 845,254,580 1,567,500 380,318,003 -81,314,252 31,264,301 7,852,654,460 XDR 108,457XDRXDR 27,495,155 5,026,258XDR 30,421,735 1,274,211,813 7,712,244,352 5,288,840XDR 1,340,779,018XDR 5,417,577 22,122,377 1,373,415,401 5,608,265,926 371,361 1,738,384 93,261,534 428,871,767 302,218 -11,784,793 -79,006,975 74,619,048 28,683,351 4,654,897 601,950 1,769,788 7,204,365,610 -13,675,203 1,169,165,486 147,636,659 4,986,622 436,619,357 -16,242,968 1,252,484,767 -59,709,167 4,815,627 20,352,589 1,209,535,774 5,111,937,402 XDR 1,046,723 265,355,887 72,186 17,704,627 -2,877,782 974,537 244,773,478 XDR 59,238,234 15,017,543,937 2,093,000 516,357,995 -148,080,305 57,145,234 14,353,105,637 XDR 1,052,265XDR 266,760,770XDR 27,914,542 1,692,442 7,076,643,503 6,592,473XDR 419,329,418 1,671,264,541 16,852,500 4,272,294,127 600,312 3,297,863 148,563,687 527,384 2,744,707 -67,594,426 130,109,405 963,000 689,388,052 27,314,230 6,860,485,390 237,135,409 -17,793,286 6,065,089 -44,210,482 15,889,500 1,523,361,850 3,990,948,236 XDR 8,835,843 2,239,983,421 327,250 80,457,990 -22,431,461 8,508,593 2,137,093,970 XDR 47,042,449 11,925,778,306 XDR 5,016,711 1,271,791,346 222,964 55,407,440 -12,343,820 4,793,747 1,204,040,086 USD 950,448 173,694,264 126,724 22,757,539 -1,320,452 823,724 149,616,273 USD 4,607,315 841,986,283 484,976 86,740,843 -6,488,590 4,122,339 748,756,849 Loan Currency Currency Project Name Name Project Strategic Cities Strategic Project Development Sustainable Tourism Sustainable Tourism Project Development Irrigation Tank Modernization Project Tea Rehabilitaion & Rehabilitaion Tea Project Diversification Pub. Telecomm.Regula.& Ref. Enterprise Mahaweliganga Third Project Development Teacher Education & Education Teacher Project Deployment Teacher Small & Medium Third Industries Project Third Rural Development Development Rural Third Project Transforming the School Transforming as the System Education a Knowledge of Foundation Hub Project Tsunami Emergancy Emergancy Tsunami II Project Recovery Supply & Sanitation Water Project Rehab. Village Irrigation Village Irrigation Project Rehabilitation Transport Connectivity and Connectivity Transport Asset Management Project Year 2000 Emergency 2000 Emergency Year Project Assistance Tree Crop Rehabilitation Rehabilitation Crop Tree Project (Tea Supply and Sanitation Water Project Improvement 2nd Badulla Integrated Rural Rural 2nd Badulla Integrated Development Financial Statements 1996011 1977001 1991033 1979074 Supply Project Water DKK 323,190 9,045,894 1978001 1979077 Supply Project Water GBP 318,184 73,775,268 1986012 2014019 1999001 1981003 1981004 1977003 Supply Project Water USD 2,346,000 428,731,265 276,000 49,424,176 -3,324,710 2,070,000 375,982,379 2012012 1988001 1996033 2017023 1982003 1990048 Project Roads Third 1983002 XDR 13,001,537 3,296,032,613 1,083,458 265,733,234 -36,848,619 11,918,079 2,993,450,760 2015028 2010042 2005021 2001025 Supply Water EUR 1,149,746 240,288,527 108,498 30,832,896 2,611,262 1,041,248 212,066,893 1980005 Project Telecommunications USD 10,350,000 1,891,461,465 900,000 161,697,375 -13,322,790 9,450,000 1,716,441,300 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE International Fund for Agricultural Development (IFAD Development Agricultural for Fund International
280 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency -33,604,011 14,347,813 3,603,724,256 Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency XDR 1,126,550 285,592,719 93,876 23,013,251 -3,203,973 1,032,674 259,375,495 XDR 3,650,897 925,542,560XDR 260,780XDR 1,231,501 64,867,769 5,198,241 312,198,776 -9,182,823 1,317,811,285 3,390,117 851,491,968 87,964 259,912 21,880,623 64,589,168 -3,097,564 -12,867,444 1,143,537 4,938,329 287,220,589 1,240,354,673 XDRXDR 997,487 12,984,086 252,873,967 3,291,608,727XDRXDR 14,347,813 3,637,328,267 2,628,721 666,409,641XDR 76,726 499,390 14,296,128 18,809,010 124,132,696 3,624,638,560 -31,708,569 -2,798,390 -497,380 12,484,696 920,761 -122,078,647 3,135,767,462 231,266,567 154,630 38,463,468 -6,531,506 2,474,091 621,414,667 -36,728,297 13,798,748 3,465,831,616 XDR 3,059,456 775,605,750 179,968 44,722,764 -7,645,152 2,879,488 723,237,834 XDR 2,730,380 692,181,378 113,764 28,270,806 -6,697,996 2,616,616 657,212,576 XDR 9,824,037 2,490,501,436 357,240 87,776,726 -24,959,729 9,466,797 2,377,764,981 XDR 8,302,125 2,104,679,897 313,300 76,980,317 -21,155,304 7,988,825 2,006,544,276 XDR 1,468,534 372,289,580 53,402 13,121,299 -3,731,076 1,415,132 355,437,205 XDRXDR 1,378,000 2,033,670 349,338,157 515,557,636 52,000 104,292 12,776,816 25,942,134 -3,511,380 1,326,000 -5,015,831 1,929,378 333,049,961 484,599,671 USD 4,022,519 735,114,945USD 1,635,590 296,709,916 2,700,000 493,424,730 -4,142,494 5,658,109 300,000 1,027,682,367 53,671,695 -3,831,435 2,400,000 435,921,600 Loan Currency Currency Project Name Name Project Anuradhapura Dry Zone Anuradhapura Project Agricultural Badulla , Rural Development Development Badulla , Rural Project Economic Matale Regional Project Advancement Kirindioya Irrigation & Kirindioya Project Settlement Coconut Development Development Coconut Project Dry Zone Livelihood Support & Partnership Programme Implementation of Smallholder Agribussiness Programme Partership(SAP Loan No 2000001843 Irrigation Iranamadu Project Development Irrigation & Kirindioya Project Settlement National Agribusiness National Agribusiness Programme Development Kegalle Rural Development Development Rural Kegalle Project North/Cen .Provin.Partici .Provin.Partici North/Cen Project Development .Rural N-W Province Dry Zone Province N-W Development Participatory t Project Post Tsunami Tsunami Coastal Post & Resource Rehabilitation – ll Mgt Programme Post Tsunami Tsunami Coastal Post & Resource Rehabilitation Mgt Programme Post Tsunami Tsunami Livelihood Post Support & Partnership ProgrammeII Small Farmers & Landless Small Farmers Project Credit Post Tsunami Tsunami Livelihood Post Support & Partnership Programme Financial Statements 2017014 1992051 1981006 1978004 1999007 1986026 1995040 1983004 1982004 1982009 1988088 2012008 2010009 2005023 2004022 2005022 2008025 2008026 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
281 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency JPK 236,855 391,924,072 118,424 192,871,248 -1,071,617 118,431 197,981,207 EUR 4,207,483 879,333,699 1,682,993 338,220,316 -26,960,035 2,524,490 514,153,348 EUR 10,040,900 2,103,896,793 246,508 46,097,160 1,732,878 346,861,191 -60,864,224 8,554,529 1,742,268,538 EUR 3,698,601 772,981,036 217,564 44,450,856 -19,560,706 3,481,037 708,969,474 EUR 4,524,036 945,491,069 109,012 22,272,528 -24,027,453 4,415,024 899,191,088 EUREUR 5,705,948EUR 1,192,502,105 3,560,260 744,068,570 6,114,760 1,277,940,748 2,282,380 458,675,161 178,012 -36,561,663 305,738 3,423,568 36,369,988 62,465,602 697,265,281 -18,849,312 3,382,248 -32,373,771 5,809,022 688,849,270 1,183,101,375 XDR 12,917,133 3,274,635,461 462,104 114,864,565 -31,454,807 12,455,029 3,128,316,089 XDR 3,385,489 858,258,793 2,448,068 611,139,920 -4,184,020 5,833,558 1,465,214,693 USD 768,689 140,477,893 256,160 45,707,026 -1,678,120 512,529 93,092,747 USD 6,133,380 1,120,874,582 533,320 94,759,631 -8,953,653 5,600,060 1,017,161,298 USD 17,050,990 3,116,066,887USD 6,276,188 1,120,667,214 2,094,545 -38,329,242 10,774,802 382,777,831 8,353,606 1,957,070,431 1,495,880,744 19,039,050 10,448,151 1,897,697,624 USD 16,475,933 3,010,975,134 1,607,311 285,575,147 3,333,320 596,249,448 -21,272,113 14,749,924 2,679,028,720 USD 14,276,504 2,609,029,629 328,418 58,352,921 -17,285,908 13,948,086 2,533,390,800 Loan Currency Currency
Project Name Name Project Smallholder Plantataions Dev. Entrepreneurship Programme Srilanka Smaiiholder Tea Tea Smaiiholder Srilanka Revitalization and Rubber (STARR Project Negombo Water Supply Negombo Water (Netherlands Project Ukuwela Power Station Power Ukuwela (Japan Project Rehabilitation Implementation of Implementation of Water Buttala Monaragala- Supply Project North East Community North East Community & Development Restoration Project 2 nd Power Dist & Transm. Dist & 2 nd Power (Anuradapura Project Secondary Education Education Secondary Modernization Project National Highway Sector Sector National Highway Project The Skills Development The Skills Development Project Rural Electrification Project Electrification Project Rural (Sweden 4 extension for the Solar Energy Health & of Development in Rural Facilities Education Areas-Finland Southern Transport Project Development Ganga Development Kalu Loan (Additional Project Project Project Colombo National Highways National Highways Colombo Ganga Development Kalu Project Financial Statements 2011011 2007011 2016016 1999056 1999055 2017030 2013023 2010037 2014007 2002071 1996008 2010038 2005079 2008032 2008022 2000052 Loan Key NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE ING Bank Japan Bank of International Cooperation (JBIC Cooperation International Japan Bank of KBC Bank Nordea Bank Finland Nordea OPEC Fund for International Development (OFID Development for International Fund OPEC
282 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency Parity Parity Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency SAR 51,199,281 2,493,681,497 2,003,346 92,687,121 3,750,000 177,774,264 -14,152,539 49,452,627 2,394,441,815 SARSAR 14,543,630SAR 708,353,344 9,514,143 463,390,159 7,761,315 378,017,969 2,666,000 126,385,651 3,000,000 -6,865,887 142,219,411 550,000 11,877,630 -5,763,090 26,073,559 575,101,806 6,514,143 -2,780,453 315,407,658 7,211,315 349,163,957 EUR 25,006,650.48 5,226,210,020EUR 2,799,805 587,717,737 2,049,114 417,230,810 3,572,378 725,849,848 -134,923,385 21,434,272 4,365,436,787 -17,369,194 4,848,919 987,579,353 EUREUR 8,098,314EUR 1,692,489,395 5,024,210 596,097 1,078,607,279 8,250,000 2,167,306 121,199,718 1,724,190,602 424,367,905 916,666 -42,931,305 -38,279,004 8,694,412 184,216,632 7,191,517 1,770,757,808 -46,421,835 1,464,696,180 7,333,334 1,493,552,135 USD 4,580,703 837,123,011 2,492,860 440,181,227 7,467,071 7,073,563 1,284,771,309 USD 2,626,141 479,926,978 192,843 34,641,472 -3,316,006 2,433,298 441,969,500 USD 905,330 165,448,986 301,720 54,183,933 -1,628,935 603,610 109,636,118 USD 6,750,000 1,233,561,825 750,000 134,174,738 -9,583,088 6,000,000 1,089,803,999 USD 2,263,827 413,714,198 490,626 88,160,957 -3,487,162 1,773,201 322,066,079 USD 3,000,000 548,249,700 500,000 88,943,725 -5,220,975 2,500,000 454,085,000 USD 29,310,522 5,356,494,952 370,714 66,698,646 2,666,660 473,808,816 -42,702,271 27,014,576 4,906,682,511 USD 18,389,209 3,360,716,099 4,798,235 850,721,931 97,333 23,187,444 4,211,535,363 Loan Currency Currency Project Name Name Project Epilepsy Hospital & Health Project Centers Western Province Road Road Province Western Project Development Nuwara of Development District General Eliya Hospital (Netherland Enhancement and Enhancement Technical of Upgrading of Institute Trainig at Engineering Technology Katunayaka Health Development Hospital -Colombo Facilities US Housing Gurantee Loan US Housing Gurantee for Pvt. Sector Trincomalee – Baticoloa Project Road Health of Development Project in Colombo Facilities Loan (Additional Southern Prov.Rural Southern Prov.Rural Advancement Economic Project Technical of Up-grading (SLIATE(Austria Education Implementation of the Implementation of bridge Kochchikade Ambulance Obtaining 100 Cars for Govermment Hospitals -USAID Housihg Sri Lanka Loan Guarantee Road Sector Development Development Sector Road Project Sri Lanka -USAID Housihg Sri Lanka Loan Guarantee Road Network Development Development Network Road Project Rehabilitation of the A 05 A the of Rehabilitation Badulla from Corridor Road Project Chenkaladi to Financial Statements 1997067 2015014 2015015 2016001 1994046 2017029 2017025 1998049 2012024 2012009 2003076 2008001 2004043 2002070 2002058 2008038 2008002 Loan Key Raiffeisen Zentral Bank Zentral Raiffeisen Saudhi Fund (SF Saudhi Fund Riggs National Bank Washington Riggs National Bank NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
283 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. 31.12.2019 Closing Balance as at Closing Balance Loan Amount Currency Currency -12,687,961 2,382,000 485,132,888 -11,073,832 38,652,119 1,871,493,067 Parity Parity -55,929,300 10,500,000 2,138,495,094 Adjustment Rs. Loan Amount Currency Currency Rs. Loan Amount Currency Currency Accounted During the Year Year During the Accounted Repayments Rs. 01–01–2019 Loan Balance as at Loan Balance Loan Amount Currency Currency SAR 177,229,770 8,632,046,822 4,816,120 218,455,012 15,000,000 711,097,059 -51,042,763 167,045,890 8,088,362,012 SAR – – 25,856,413 1,230,287,785 21,679,729 25,856,413 1,251,967,514 SARSAR 12,215,658 135,496,445 594,968,530 20,713,680 6,599,408,539 953,396,194 11,500,000 545,174,412 46,073,859 32,929,339 -50,462,669 123,996,445 1,594,438,583 6,003,771,458 SAR 38,652,119 1,882,566,899 EUR 10,404,953 2,174,560,262 520,248 103,488,547 -57,891,338 9,884,705 2,013,180,377 EUR – – 2,097,122 438,312,171 -11,191,293 2,097,122 427,120,878 EUREUR 1,486,626 310,694,325EUR 5,173,146 1,081,150,267 3,304,923EUR 690,705,071 2,382,000 1,094,277 497,820,849 219,013,372 991,084 3,448,764 197,758,145 688,888,195 -12,011,005 -41,063,743 495,542 1,724,382 100,925,175 -13,733,379 351,198,329 4,399,200 895,985,064 EUR 10,500,000 2,194,424,394 Loan Currency Currency Project Name Name Project Road Network Development Development Network Road (Saudi Fund Project of Augmentation Supply Water Mahiyangana Project Kalu Ganga Development Ganga Development Kalu Finance (Additional Project Impiementation of Kirama Kirama Impiementation of Water Integrated Katuwana Supply Scheme Improment of Peradeniya – Peradeniya of Improment Road Badulla – Chenkaladi Project Kalu Ganga Development Ganga Development Kalu Project Epilepsy Hospital & Health (Additional Project Centers Finance Eastern of Rehabilitation Line (Austria Railway old laxapana Rehabilitation power hydroelectric plant(Austria of Supply and Installation and Medical Laboratary for the Ministry Equipment in SL Highways of 2nos Cardiac Supply of to System Catheterization the NHSL Dep.of Cardiology Upgrading of Sewerage Sewerage of Upgrading at Kataragama Infrastructure Area City Sacred Grand TotalGrand 3,194,153,832,259 152,582,463,059 212,502,422,256 -28,409,740,965 3,105,824,132,097 Financial Statements 2018017 2015027 2013045 2015026 2012025 2018024 2013004 2013006 2018003 2010022 2010028 2010004 Loan Key Uni Credit Bank Austria Bank Uni Credit NOTE – 29(II – STATEMENT OF FOREIGN LOAN BALANCES (8343 (8343 BALANCES LOAN FOREIGN OF STATEMENT – 29(II – NOTE
284 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. Rs. 591,700,000 31.12.2019 31.12.2019 31.12.2019 Closing Balance as at Closing Balance as at Closing Balance Loan Loan Amount Amount Currency Currency Currency Rs. Rs. Rs. Rs. Loan Loan Amount Amount Currency Currency Currency Rs. Rs. Loan Loan Amount Amount Currency Currency Currency Rs. Rs. Balance as at 01.01.2019Balance during the year Accounted Repayments Parity as at 01.01.2019Balance during the year Accounted Repayments Parity Loan Loan
Amount Amount Currency Currency Currency
Loan Currency Currency Loan Currency Loan USD 1,000,000,000 182,749,900,000 – – – – -1,115,900,000 1,000,000,000 181,634,000,000 USD 666,700,000 121,839,358,330 – – 333,300,000 58,753,824,030 -2,528,758,700 333,400,000 60,556,775,600 USD 140,000,000 25,584,986,000 – – 140,000,000 24,735,452,000 -849,534,000 – – Project Name Name Project Name Project Total 12,150,000,000 2,220,411,285,000 4,400,000,000 782,518,480,000 1,500,000,000 269,828,050,000 489,985,00015,050,000,000 2,733, Total 1,806,700,000 330,174,244,330 – – 473,300,000 83,489,276,030 -4,494,192,700 1,333,400,000 242,190,775,600 Facility Facility Facility Financial Statements Key Key Loan Loan 2017011 Financing Term Currency Foreign 2011017 Bond Sovereign International USD 1,000,000,000 182,749,900,000 – – – – -1,115,900,000 1,000,000,000 181,634,000,000 2017012 Bond Sovereign International USD 1,500,000,000 274,124,850,000 – – – – -1,673,850,000 1,500,000,000 272,451,000,000 2019013 Bond Sovereign International USD – – 1,000,000,000 178,930,700,000 – – 2,703,300,000 1,000,000,000 181,634,000,000 2019014 Bond Sovereign International USD – – 1,400,000,000250,502,980,000 – – 3,784,620,000 1,400,000,000 254,287,600,000 2018013 Bond Sovereign International USD 1,250,000,000 228,437,375,000 – – – – -1,394,875,000 1,250,000,000 227,042,500,000 2018014 Bond Sovereign International USD 1,250,000,000 228,437,375,000 – – – – -1,394,875,000 1,250,000,000 227,042,500,000 2012018 Bond Sovereign International USD 1,000,000,000 182,749,900,000 – – – – -1,115,900,000 1,000,000,000 181,634,000,000 2019033 Bond Sovereign International USD – – 500,000,000 88,271,200,000 – – 2,545,800,000 500,000,000 90,817,000,000 2019034 Bond Sovereign International USD – – 1,500,000,000 264,813,600,000 – – 7,637,400,000 1,500,000,000 272,451,000,000 2016024 Bond Sovereign International USD 1,000,000,000 182,749,900,000 – – – – -1,115,900,000 1,000,000,000 181,634,000,000 2016026 Bond Sovereign International USD 500,000,000 91,374,950,000 – – – – -557,950,000 500,000,000 90,817,000,000 2015029 Bond Sovereign International USD 1,500,000,000 274,124,850,000 – – – – -1,673,850,000 1,500,000,000 272,451,000,000 2016025 Financing Term Currency Foreign 2018044 Financing Term Currency Foreign 2014009 Bond Sovereign International USD 500,000,000 91,374,950,000 – – 500,000,000 87,360,450,000 -4,014,500,000 – – 2014008 Bond Sovereign International USD 1,000,000,000 182,749,900,000 – – 1,000,000,000 182,467,600,000 -282,300,000 – – 2015008 Bond Sovereign International USD 650,000,000 118,787,435,000 – – – – -725,335,000 650,000,000 118,062,100,000 2010040 Bond Sovereign International USD 1,000,000,000 182,749,900,000 – – – – -1,115,900,000 1,000,000,000 181,634,000,000 Note – 29 (III) FOREIGN CURRENCY TERM FINANCING FACILITY (9190) (9190) FACILITY FINANCING TERM CURRENCY FOREIGN (III) 29 (9194) – BOND Note SOVEREIGN INTERNATIONAL (IV) 29 – Note
285 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Note – 30 – DEPOSIT ACCOUNTS BALANCES AS AT 31ST DECEMBER 2019 (6000 & 6003)
Opening Balance as at Closing Balance as at Category Debits Credits 01.01.2019 31.12.2019 6000/01 7,728,136,100 1,374,067,322 1,522,267,619 7,876,336,397 6000/02 558,280,611 489,777,123 543,097,838 611,601,326 6000/03 -929,023 – – -929,023 6000/04 4,426,465 4,426,465 – – 6000/05 1,034 – – 1,034 6000/06 22,007,565,006 7,576,153,474 9,219,574,195 23,650,985,727 6000/07 500,000 500,000 1,000,000,000 1,000,000,000 6000/08 414,601,379 76,673,230 60,274,545 398,202,694 6000/09 – – – – 6000/10 1,325,211,254 1,984,836,234 1,619,184,076 959,559,096 6000/11 21,000,000 21,000,000 – – 6000/12 -139,553 989,912 1,241,574 112,110 6000/13 14,537,349,400 27,630,344,268 27,738,731,152 14,645,736,284 6000/14 3,751,022,578 52,792,759,454 50,681,416,392 1,639,679,515 6000/15 -22,339 173,682 196,203 183 6000/16 11,553,926,897 5,436,872,016 8,536,915,735 14,653,970,616 6000/17 2,165,004,442 5,123,525,263 5,097,623,778 2,139,102,958 6000/18 12,112,065,609 19,617,758,648 20,844,955,174 13,339,262,136 6000/19 161,337,657 359,601,903 334,558,237 136,293,991 6000/20 538,554,628 1,431,947,994 1,425,364,698 531,971,331 6000/286 -11,700 – – -11,700 Sub Total 76,877,880,445 123,921,406,988 128,625,401,217 81,581,874,674
60003/1 -10,000,000 – – -10,000,000 6003/15 -563,838 – 563,838 – 6003/54 -108,030 – – -108,030 6003/63 -2,970 – – -2,970 Sub Toal -10,674,838 – 563,838 -10,111,000 Grand Total 76,867,205,607 123,921,406,988 128,625,965,055 81,571,763,674 Financial Statements
286 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... 1,473.59 1,378.00 1,600.33 Rs. Mn. Mn. J.Yen Outstanding Amount – Capital Outstanding Expiry Date of of Date Issue Date of of Date Value of the Treasury Guarantees Guarantees Treasury the of Value 4.20 1,200.00 11-Jun-08 9-Oct-23 0.86 1,200.00 US$ Mn. Mn. Euro Mn. J.Yen Rs. Mn. US$ Mn. Mn. Euro + US$ 4.2Mn) Secure the Loan FacilitySecure 134.84 28-Jun-07 28-Jun-22 23.18 People's BankPeople's BankNational Savings BankCommercial the Loan Facility Secure (Rs.1.2Bn Facility Credit CeylonBank of the Loan Facility Secure BankPeople's CeylonBank of the Loan Facility Secure CeylonBank of the Loan Facility Secure BankPeople's the Loan Facility Secure BankPeople's the Loan Facility Secure BankPeople's 2,770.00 6-Nov-09 the Loan Facility Secure CeylonBank of 5-Nov-24 1,085.00 the Loan Facility Secure CeylonBank of 1-Sep-11 the Loan Facility Secure CeylonBank of 28-Feb-26 85.00 the Loan Facility Secure CeylonBank of 29-Aug-11 the Loan Facility 31-Dec-26 Secure 2,328.36 CeylonBank of 14-Mar-12 1,784.36 the Loan Facility Secure BankNational Savings 31-Dec-26 12-Mar-12 2,063.00 the Loan Facility Secure 31-Dec-26 BankNational Savings 12-Mar-12 1,292.00 the Loan Facility Secure the Loan Facility Secure 31-Dec-26 1,050.00 21-Mar-12 the Loan Facility Secure 5,983.68 31-Dec-26 21-Mar-12 829.25 2,146.81 31-Dec-26 21-Mar-12 2,007.64 31-Dec-26 40.11 6-Jun-12 31-Dec-26 315.56 1,291.08 15-Oct-12 1,413.16 1,433.67 30-Apr-27 31-Jan-13 354.58 1,604.16 30-Apr-27 15-Oct-12 1,494.31 384.25 30-Apr-27 755.96 25-Oct-12 31-Jan-13 1,643.39 30-Apr-27 30-Apr-27 4,647.60 31-Jan-13 30-Apr-27 1,656.01 1,565.50 People's BankPeople's & Shanghai Hong Kong Banking Co.Ltd. Facility Credit 4,116.00 7-May-08 3-Mar-23 – Financial Institution Bank or Institution Purpose Statements Ceylon Electricity Ceylon Board Road Development Development Road Authority John Sir General Defence Kotelawala University Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Urban Development Urban Development Authority Development Road Authority Development Road Authority Development Road Authority NOTE – 33 – STATEMENT OF CONTINGENT LIABILITIES CONTINGENT OF – 33 STATEMENT NOTE 31.12.2019 AT AS TREASURY THE GENERAL ISSUED BY GUARANTEES BANK OF – 33(A) STATEMENT NOTE Electricity Board Ceylon Lakdhanavi Ltd.Lakdhanavi Ltd.Lakdhanavi Bank National Savings Board Fund Trust Employees' the Bonds Secure the Bonds Secure 2,992.00 2,992.00 1-Mar-07 22-Feb-07 31-Mar-22 31-Mar-22 1,430.18 1,282.29 West Coast Power Power Coast West (Pvt) Ltd.
287 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... 891.41 367.32 370.67 873.27 840.62 1,599.96 1,386.37 3,061.52 1,330.00 Rs. Mn. Mn. J.Yen Outstanding Amount – Capital Outstanding Expiry Date of of Date Issue Date of of Date Value of the Treasury Guarantees Guarantees Treasury the of Value US$ Mn. Mn. Euro Mn. J.Yen Rs. Mn. US$ Mn. Mn. Euro Commercial BankCommercial BankCommercial CeylonBank of the Loan Facility Secure CeylonBank of the Loan Facility Secure CeylonBank of the Loan Facility Secure CeylonBank of the Loan Facility Secure BankCommercial the Loan Facility Secure BankCommercial the Loan Facility Secure CeylonBank of the Loan Facility Secure the Loan Facility Secure 209.04 15-Nov-12 863.57 31-May-27 the Loan Facility Secure 31-Jan-13 31-May-27 670.75 15-Nov-12 3,139.25 31-May-27 31-Jan-13 385.64 31-May-27 15-Nov-12 1,636.31 31-May-27 31-Jan-13 209.06 26-Dec-12 31-May-27 864.94 30-Jun-27 31-Jan-13 30-Jun-27 299.25 26-Dec-12 30-Jun-27 Bank of CeylonBank of National BankHatton National BankHatton the Loan Facility Secure the Loan Facility Secure BankNational Savings the Loan Facility Secure the Loan Facility Secure 1,363.75 309.12 31-Jan-13 28-Dec-12 1,423.73 30-Jun-27 30-Jun-27 11-Feb-13 225.54 30-Jun-27 31-Dec-12 30-Jun-27 National Savings BankNational Savings DFCC Bank the Loan Facility Secure DFCC Bank National BankHatton CeylonBank of the Loan Facility Secure the Loan Facility Secure the Loan Facility Secure National BankHatton National BankHatton the Loan Facility Secure the Loan Facility Secure the Loan Facility Secure 965.09 31-Jan-13 30-Jun-27 89.60 2,512.31 31-Dec-12 14-May-13 362.77 30-Nov-27 30-Jun-27 31-Jan-13 750.00 30-Jun-27 1,581.74 7-Jun-13 11-Jul-13 1,537.53 30-Jun-28 31-Jan-28 11-Jul-13 31-Jan-28 2,282.16 1,301.55 1,323.38 Financial Institution Bank or Institution Purpose Statements NOTE – 33 – STATEMENT OF CONTINGENT LIABILITIES CONTINGENT OF – 33 STATEMENT NOTE 31.12.2019 AT AS TREASURY THE GENERAL ISSUED BY GUARANTEES BANK OF – 33(A) STATEMENT NOTE Road Development Development Road Authority Development Road Authority Development Road Authority Development Road Authority Road Development Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Road Development Development Road Authority Development Road Authority Road Development Development Road Authority Development Road Authority Road Development Development Road Authority Development Road Authority John Sir General Defence Kotelawala University Development Road Authority Road Development Development Road Authority Development Road Authority Development Road Authority
288 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... 2,556.02 Rs. Mn. Mn. J.Yen Outstanding Amount – Capital Outstanding Expiry Date of of Date Issue Date of of Date 663.39 9-May-16 30-Nov-30 Value of the Treasury Guarantees Guarantees Treasury the of Value US$ Mn. Mn. Euro Mn. J.Yen Rs. Mn. US$ Mn. Mn. Euro Facility Bank of CeylonBank of National BankHatton National BankHatton the Loan Facility Secure the Loan Facility Secure BankNational Savings the Loan Facility Secure CeylonBank of the Loan Facility Secure National BankHatton BankNational Savings the Loan Facility Secure the Loan Facility Secure BankNational Savings the Loan Facility Secure BankNational Savings the Loan Facility Secure BankNational Savings the Loan Facility Secure 3,330.95 BankNational Savings 897.00 25-Jul-13 the Loan Facility Secure 5-Aug-13 2,133.44 BankNational Savings 31-Jan-28 31-Jan-28 5-Aug-13 the Loan Facility Secure 1,907.48 BankNational Savings 31-Jan-28 12-Aug-13 the Loan Facility Secure 29-Feb-28 BankNational Savings the Loan Facility Secure 1,403.53 2,173.92 BankNational Savings 30-Aug-13 28-Aug-13 the Loan Facility Secure 29-Feb-28 29-Feb-28 415.70 National BankHatton 24-Oct-13 1,456.08 Loan Term Secure National BankHatton 31-Oct-27 24-Oct-13 1,866.63 30-Apr-28 the Loan Facility Secure National BankHatton 24-Oct-13 2,716.93 3,136.99 30-Apr-28 734.21 the Loan Facility Secure National BankHatton 24-Oct-13 1,769.27 1,502.08 30-Apr-28 the Loan Facility Secure 1,541.38 National BankHatton 24-Oct-13 1,314.00 30-Apr-28 the Loan Facility Secure 24-Oct-13 1,478.49 the Loan Facility Secure 31-Oct-27 1,761.35 1,147.84 24-Oct-13 2,427.00 30-Apr-28 28-Nov-13 325.86 31-May-28 1,178.22 1,510.58 871.15 28-Nov-13 1,168.49 2,538.76 31-May-28 28-Nov-13 1,214.30 31-May-28 393.99 28-Nov-13 5,839.00 1,062.50 31-May-28 28-Nov-13 31-May-28 1,579.00 1,196.73 28-Nov-13 31-May-28 816.55 1,018.01 352.34 4,786.43 1,292.84 Financial Institution Bank or Institution Purpose Statements NOTE – 33 – STATEMENT OF CONTINGENT LIABILITIES CONTINGENT OF – 33 STATEMENT NOTE 31.12.2019 AT AS TREASURY THE GENERAL ISSUED BY GUARANTEES BANK OF – 33(A) STATEMENT NOTE Road Development Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Road Development Development Road Authority Development Road Authority Development Road Authority
289 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. Mn. Mn. J.Yen Outstanding Amount – Capital Outstanding Expiry Date of of Date Issue Date of of Date 871.17 7-Jul-14 15-Jan-29 713.50 1,548.81 8-Jul-14 15-Jan-29 1,279.16 Value of the Treasury Guarantees Guarantees Treasury the of Value US$ Mn. Mn. Euro Mn. J.Yen Rs. Mn. US$ Mn. Mn. Euro Secure the Loan FacilitySecure the Loan FacilitySecure the Loan FacilitySecure the Loan FacilitySecure 5,209.74 11-Feb-14 31-Aug-28 749.00 13-Feb-14 31-Aug-28 852.28 14-Mar-14 30-Sep-28 462.05 25-Mar-14 30-Sep-28 4,221.88 Facility Facility 553.18 693.93 376.74 Bank of CeylonBank of DFCC Bank National BankHatton the Loan Facility Secure BankNational Savings the Loan Facility Secure Bank National Development the Loan Facility Secure PLC the Loan Facility Secure CeylonBank of Bank National Development PLC BankNational Savings the Loan Facility Secure Bank National Development PLC the Loan Facility Secure BankNational Savings 8,600.00 18-Dec-13 Bank National Development 31-Dec-28PLC the Loan Facility Secure 1,807.00 National BankHatton 27-Dec-13 3,588.22 653.48 30-Jun-28 BankCommercial 27-Dec-13 27-Jan-14 30-Jun-28 the Loan Facility Secure Ceylon 31-Jul-28Bank of BankNational Savings the Loan Facility Secure 1,253.93 BankNational Savings 13-Feb-14 6,377.05 the Loan Facility Secure the Loan Facility Secure 31-Aug-28 BankNational Savings 8,345.00 7-Mar-14 the Loan Facility Secure 31-Aug-28 BankNational Savings 1,664.00 the Loan Facility Secure BankNational Savings 1,492.31 14-Mar-14 the Loan Facility Secure 30-Sep-28 BankNational Savings 2,935.67 529.19 Loan Term the Secure 486.51 25-Mar-14 Loan Term the Secure 30-Sep-28 694.81 987.57 3-Apr-14 2,931.86 2,249.98 15-Oct-28 5,217.03 5-Mar-14 7-Apr-14 30-Sep-28 828.01 15-Oct-28 7-May-14 1,361.26 1,350.00 15-Nov-28 7-May-14 1,160.23 15-Nov-28 21-May-14 15-Nov-28 401.65 544.11 2,397.94 1,702.32 677.25 1,113.19 947.84 Financial Institution Bank or Institution Purpose Statements NOTE – 33 – STATEMENT OF CONTINGENT LIABILITIES CONTINGENT OF – 33 STATEMENT NOTE 31.12.2019 AT AS TREASURY THE GENERAL ISSUED BY GUARANTEES BANK OF – 33(A) STATEMENT NOTE Road Development Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority National School Business of Management Limited Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority
290 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... 2,401.73 Rs. Mn. Mn. J.Yen Outstanding Amount – Capital Outstanding Expiry Date of of Date Issue Date of of Date 957.77 21-Jul-14 31-Jan-29 787.27 385.06 17-Jul-14 31-Jan-29 319.76 1,757.66 15-Jul-14 31-Jan-29 1,451.49 1,488.19 21-Jul-14 31-Jan-29 1,229.27 1,148.06 12-Nov-14 31-May-29 1,002.99 1,291.03 21-Jul-14 31-Jan-29 1,059.03 2,123.65 21-Sep-14 15-Apr-29 1,884.57 1,342.39 23-Sep-14 31-Mar-29 1,108.00 1,239.48 17-Nov-14 31-May-29 710.61 1,894.95 16-Jul-14 31-Jan-29 1,671.11 2,080.71 15-Jul-14 15-Jan-29 1,718.35 2,792.07 14-Nov-14 30-Nov-29 2,557.05 2,022.39 15-Jul-14 31-Jan-29 1,668.68 Value of the Treasury Guarantees Guarantees Treasury the of Value 44.71 22-Sep-14 30-Sep-27 31.44 US$ Mn. Mn. Euro Mn. J.Yen Rs. Mn. US$ Mn. Mn. Euro Facility Facility Facility the Loan FacilitySecure Facility Facility Facility 472.29 26-Aug-14 28-Feb-29 385.83 Facility Facility Facility Facility Facility Facility Facility Facility National Savings BankNational Savings the Loan Facility Secure 2,000.00 26-Sep-15 31-Oct-28 National Savings BankNational Savings BankNational Savings Loan Term the Secure BankNational Savings Loan Term the Secure BankNational Savings Loan Term the Secure Bank National Development PLC the Loan Facility Secure BankPeople's BankNational Savings Loan Term the Secure Loan Term the Secure BankNational Savings the Loan Facility Secure CeylonBank of 901.90 20-Aug-14 28-Feb-29 Loan Term the Secure 1,500.00 13-Jul-14 31-Oct-28 744.83 National Savings BankNational Savings Loan Term the Secure National Savings BankNational Savings BankCommercial Loan Term the Secure BankNational Savings CeylonBank of Loan Term the Secure Loan Term the Secure Loan Term the Secure Bank of CeylonBank of CeylonBank of BankNational Savings Loan Term Secure Loan Term Secure Loan Term Short Secure Financial Institution Bank or Institution Purpose Statements NOTE – 33 – STATEMENT OF CONTINGENT LIABILITIES CONTINGENT OF – 33 STATEMENT NOTE 31.12.2019 AT AS TREASURY THE GENERAL ISSUED BY GUARANTEES BANK OF – 33(A) STATEMENT NOTE Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Sri Lanka Land Sri Lanka & Reclamation Development Corporation Road Development Development Road Authority Development Road Authority Road Development Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Development Road Authority Land Sri Lanka & Reclamation Development Corporation Road Development Development Road Authority Road Development Development Road Authority Development Road Authority Development Road Authority Development Road Authority
291 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... 818.36 974.56 5,777.10 2,119.09 1,580.63 2,881.03 Rs. Mn. Mn. J.Yen Outstanding Amount – Capital Outstanding Expiry Date of of Date Issue Date of of Date 193.00 8-Dec-14 15-Jul-29 242.54 1-Dec-14 31-May-29 3,147.11 28-Feb-19 31-Dec-30 1,736.61 9-Jul-14 15-Jul-29 1,567.46 11-Sep-15 31-May-29 1,348.76 29-Sep-15 31-Dec-30 3,936.67 24-May-16 31-Mar-30 1,870.50 31-May-16 30-Jun-29 3,014.83 29-Sep-15 31-Mar-30 3,041.00 30-Dec-14 30-Jun-29 3,850.08 29-Apr-15 30-Apr-23 3,264.00 2,900.00 9-Dec-14 31-Dec-29 2,449.24 2,800.00 9-Dec-14 31-Dec-29 2,565.08 28,969.00 28-Mar-12 28-Mar-52 3,393.00 Value of the Treasury Guarantees Guarantees Treasury the of Value 69.72 12-Mar-13 12-Mar-28 23.13 US$ Mn. Mn. Euro Mn. J.Yen Rs. Mn. US$ Mn. Mn. Euro Facility Secure Term Loan Term Secure Facility Facility Facility Facility Facility Facility Facility Facility Facility Facility Facility Loan- SLP 114Loan- SLP 45,428.00 9-May-16 9-May-56 – Facility Bank of CeylonBank of Loan Term Secure National Development Bank National Development PLC DFCC Bank Loan Term Secure Bank of CeylonBank of Loan Term Secure Commercial BankCommercial BankCommercial Loan Term Secure Loan Term Secure CeylonBank of CeylonBank of Loan Term Secure Loan Term Secure CeylonBank of CeylonBank of BankPeople's the Loan Facility Secure CeylonBank of the Loan Facility Secure CeylonBank of Loan Term Secure CeylonBank of Loan Term Secure National BankHatton Loan Term Secure Loan the Loan Facility Secure Term Secure 1,500.00 28-Jul-15 1,500.00 31-Jan-30 30-Jun-16 31-Jan-30 1,141.36 7-Oct-19 31-Mar-30 Japan International Japan International Agency Corporation (JICA) Japan International Agency Corporation (JICA) Hatton National BankHatton Loan Term the Secure Industrial And Commercial China Limited Bank of
Financial Institution Bank or Institution Purpose Statements Road Development Development Road Authority Road Development Development Road Authority NOTE – 33 – STATEMENT OF CONTINGENT LIABILITIES CONTINGENT OF – 33 STATEMENT NOTE 31.12.2019 AT AS TREASURY THE GENERAL ISSUED BY GUARANTEES BANK OF – 33(A) STATEMENT NOTE Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Ceylon Electricity Ceylon Board National Water Supply & Drainage Board Airport & Aviation Aviation Airport & (Sri Lanka) Services Limited Aviation Airport & (Sri Lanka) Services Limited National Water National Water Supply & Drainage Board Ceylon Electricity Ceylon Board
292 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... 191.21 779.15 229.83 1,911.97 1,207.44 2,308.75 Rs. Mn. Mn. J.Yen Outstanding Amount – Capital Outstanding Expiry Date of of Date Issue Date of of Date 50.00 24-Feb-16 29-Feb-21 10.08 937.87 16-Aug-16 11-Jul-31 454.79 21-Feb-19 31-Jan-31 829.40 4-Jan-19 11-Jul-31 948.00 4-Mar-16 15-Sep-30 603.00 21-Feb-19 31-Jul-31 1,074.13 30-Sep-15 31-Dec-30 1,015.00 28-Jan-16 30-Jul-30 1,015.00 1,358.98 6-Nov-17 11-Jul-31 3,378.00 31-Aug-16 28-Feb-31 – 2,506.30 21-Feb-19 31-Dec-30 2,890.00 4-Mar-16 15-Sep-30 2,302.16 Value of the Treasury Guarantees Guarantees Treasury the of Value 29.10 31-Aug-16 28-Feb-31 4414.47 16.20 31-Aug-16 28-Feb-31 US$ Mn. Mn. Euro Mn. J.Yen Rs. Mn. US$ Mn. Mn. Euro Facility Secure Term Loan Term Secure Facility Loan Term the Secure Facility Facility Facility Facility Facility Facility Loan Facility Facility Facility Facility Facility National Development Bank National Development PLC Bank National Development PLC CeylonBank of CeylonBank of Loan Term Secure CeylonBank of ChinaExim Bank of Loan Term Secure Loan Term Secure CeylonBank of Loan Credit Buyers CeylonBank of BankPeople's 88.66 the Loan Facility Secure Bank People's Loan Term the Secure DFCC Bank the Loan Facility Secure DFCC BankDFCC Bank CeylonBank of Loan Term Secure CeylonBank of Term Total the Secure 18-May-13 CeylonBank of Loan Term the Secure 21-Jul-24 Loan Term the Secure 300.00 29-Jul-16 Loan Term the Secure 40.66 31-Jan-31 Loan Term the Secure 397.00 29-Jul-16 31-Jul-31 Exim Bank of IndiaExim Bank of IndiaExim Bank of Guarantee Sovereign Guarantee Sovereign 164.90 91.80 28-Sep-16 11-Jul-31 28-Sep-16 67.37 30-Sep-31 45.44 Financial Institution Bank or Institution Purpose Statements NOTE – 33 – STATEMENT OF CONTINGENT LIABILITIES CONTINGENT OF – 33 STATEMENT NOTE 31.12.2019 AT AS TREASURY THE GENERAL ISSUED BY GUARANTEES BANK OF – 33(A) STATEMENT NOTE Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Telecommunications Regulatory Sri of Commission Lanka Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Northsea Limited Ceylon Bank of Loan Term Secure National Water National Water Supply & Drainage Board National Water National Water Supply & Drainage Board
293 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... 560.97 1,773.83 4,690.71 6,308.90 Rs. Mn. 14,500.00 Mn. J.Yen Outstanding Amount – Capital Outstanding Expiry Date of of Date Issue Date of of Date 560.97 13-Feb-17 13-Feb-32 7,500.00 12-Sep-17 13-Mar-32 7,500.00 8,026.80 15-Feb-19 30-Jun-31 6,500.00 18-Feb-19 26-Jul-31 11,200.00 4-Aug-17 8-Feb-32 11,200.00 14,500.00 20-Dec-17 31-Dec-32 13.06 1,973.20 12-Oct-16 15-Apr-31 23.42 9-Dec-16 14-Dec-30 3,528.79 Value of the Treasury Guarantees Guarantees Treasury the of Value 9.67 19-Oct-17 23-Oct-32 1,559.78 18.10 19-Oct-17 23-Oct-32 34.43 28-Nov-16 28-Nov-31 5,184.40 US$ Mn. Mn. Euro Mn. J.Yen Rs. Mn. US$ Mn. Mn. Euro Facility Facility Payment for Land Payment Acquisition Facility Facility Facility Facility Facility Facility the Loan FacilitySecure 44.14 Loan FacilityTerm Loan Term the Secure Facility Loan Facility 1-Mar-17 1-Mar-32 4,500.00 25-Jul-17 36.87 26-Jul-35 China Development BankChina Development Loan FacilitySampath Bank BankAsian Development the Loan Facility Secure 13.70 Loan Term the Secure 115.00 21-Aug-17 29-Jun-17 6-Mar-33 15-May-41 13.70 22.80 Bank of CeylonBank of Loan Term the Secure National Savings BankNational Savings CeylonBank of Compensation Settle Loan Term the Secure Hatton National BankHatton National BankHatton Loan Term the Secure BankChina Development Loan Term the Secure CeylonBank of Guarantee Sovereign National BankHatton 48.77 BankPeople's Loan Term Loan the Secure Term the Secure & Shanghai Hong Kong Banking Co.Ltd. Bank National Development PLC Loan Term the Secure Bank National Development PLC BankNational Savings Term Total the Secure 9-Sep-16 26-Dec-31 48.77 Asian Development BankAsian Development the Loan Facility Secure 150.00 10-Jul-17 15-Nov-41 28.58 Financial Institution Bank or Institution Purpose Statements NOTE – 33 – STATEMENT OF CONTINGENT LIABILITIES CONTINGENT OF – 33 STATEMENT NOTE 31.12.2019 AT AS TREASURY THE GENERAL ISSUED BY GUARANTEES BANK OF – 33(A) STATEMENT NOTE Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Supply National Water Board & Drainage Road Development Development Road Authority National Water National Water Supply & Drainage Board Electricity Ceylon Board National Water National Water Supply & Drainage Board Road Development Development Road Authority National Water Supply & Drainage Board Airport & Aviation Aviation Airport & (Sri Lanka) Services Limited National Water Supply & Drainage Board Development Road Authority Ceylon Electricity Ceylon Board
294 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... 138.75 449.02 1,999.99 Rs. Mn. 22,000.00 Mn. J.Yen Outstanding Amount – Capital Outstanding Expiry Date of of Date Issue Date of of Date 719.74 22-Oct-18 30-Jun-33 128.32 13-Jul-18 31-Jul-33 74.40 382.24 25-Sep-18 15-Sep-33 317.22 228.49 9-Apr-19 15-Aug-33 300.00 6-Aug-18 8-Aug-28 300.00 1,165.00 7-Sep-18 15-Sep-21 1,154.00 1,387.00 24-Jan-18 31-Jan-33 1,854.99 17-Sep-18 15-Aug-33 5,766.52 3-Sep-18 15-Aug-33 1,280.26 30-Jun-18 30-Jun-33 4,150.00 11-Sep-18 15-Aug-33 10,000.00 13-Aug-18 15-Aug-33 7.62 6-Apr-18 10-Apr-33 1,246.69 Value of the Treasury Guarantees Guarantees Treasury the of Value 7.73 31-Aug-18 15-Sep-31 7.73 US$ Mn. Mn. Euro Mn. J.Yen Rs. Mn. US$ Mn. Mn. Euro Letter of Guarantee of Letter Facility Facility Facility Facility Facility Facility Facility Facility Facility Facility Facility Loan Facility Facility People's BankPeople's BankPeople's & LC OD, secure To the Loan Facility Secure 185.00 7-Sep-18 6-Sep-23 People's BankPeople's Loan Term the Secure BankPeople's the Loan Facility Secure 71.91 7-Sep-18 3-Jun-34 68.80 Bank of CeylonBank of Loan Term the Secure Bank of CeylonBank of Loan Term the Secure CeylonBank of Loan Term the Secure Bank of CeylonBank of Loan Term the Secure CeylonBank of Loan Term the Secure Bank of CeylonBank of CeylonBank of CeylonBank of the Loan Facility Secure BankAsian Development Loan Term the Secure BankPeople's Guarantee Sovereign Loan Term the Secure 200.00 Loan Term the Secure CeylonBank of 1,000.00 8-Jun-18 Loan Term the Secure 11-Jun-33 22-Nov-17 15-Sep-37 17.35 1,000.00 People's BankPeople's Loan Term the Secure Bank of CeylonBank of AG Austria Bank Un iCredit Guarantee Sovereign Term Total the Secure 50.60 28-Mar-18 31-Aug-32 21.25 Bank of CeylonBank of Loan Term the Secure Financial Institution Bank or Institution Purpose Statements State Printing State Corporation Printing State Corporation Ceylon Petroleum Petroleum Ceylon Corporation Shipping Ceylon Ltd Corporation Road Development Development Road Authority Road Development Development Road Authority Development Road Authority State Engineering State Corporation Development Road Authority State Engineering State Corporation National Water Supply & Drainage Board State Development Development State and Construction Corporation Engineering State Corporation Electricity Ceylon Board Development Road Authority National Water National Water Supply & Drainage Board NOTE – 33 – STATEMENT OF CONTINGENT LIABILITIES CONTINGENT OF – 33 STATEMENT NOTE 31.12.2019 AT AS TREASURY THE GENERAL ISSUED BY GUARANTEES BANK OF – 33(A) STATEMENT NOTE Supply National Water Board & Drainage Road Development Development Road Authority National Water Supply & Drainage Board
295 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs. Mn. 9,000.00 4,000.00 25,000.00 Mn. J.Yen Outstanding Amount – Capital Outstanding Expiry Date of of Date Issue Date of of Date 500.00 22-Oct-18 19-Oct-33 500.00 5,000.00 7-May-19 5,000.00 15-Apr-34 6-Jun-19 5,000.00 15-Apr-34 21-Jun-19 15-Apr-34 5,000.00 14-Feb-19 12-Mar-31 5,000.00 5,000.00 12-Dec-18 20-Dec-33 4,000.00 28-Dec-18 20-Dec-33 10,000.00 4-Apr-19 15-Apr-34 12.29 12-Dec-18 4-Jul-23 9.83 70.66 12-Dec-18 3-Oct-33 8.26 Value of the Treasury Guarantees Guarantees Treasury the of Value 700.00 14-May-19 31-Dec-19 700.00 US$ Mn. Mn. Euro Mn. J.Yen Rs. Mn. US$ Mn. Mn. Euro Counter GuaranteeCounter Facility 12.00Facility Facility Facility Loans Currency GuaranteeSovereign 175.00 29-Mar-19 24-Jun-20 8.25 26-Jun-19 25-Jun-24 175.00 Facility Credit Facility Credit Facility Loan Facility Facility Sovereign GuaranteeSovereign 43.78 26-Jun-19 31-Jan-31 13.50 Sri Lanka Insurance Insurance Sri Lanka Corporation CeylonBank of CeylonBank of CeylonBank of Loan Term the Secure CeylonBank of Loan Term the Secure CeylonBank of Loan Term the Secure (Hong Kong) Trustees DB Limited Loan Term the Secure the Foreign Secure DFCC Bank National BankHatton the Debenture Secure Loan Term the Secure 4,000.00 22-Mar-19 ING Bank, NV of Netherlands of ING Bank, NV The Export Secure Bank of CeylonBank of Netherlands of ING Bank, NV The Commercial Secure Loan Term the Secure Bank of CeylonBank of CeylonBank of Loan Term the Secure Loan Term the Secure Bank of CeylonBank of BankPeople's CeylonBank of the Loan Facility Secure BankPeople's the Loan Facility Secure Pledge Loan Pledge Loan 3,129.78 1-Aug-19 2,247.23 31-Dec-19 1-Aug-19 31-Dec-19 5,443.17 1-Aug-19 31-Dec-19 599.48 1-Aug-19 31-Dec-19 3,129.78 2,247.23 5,443.17 599.48 China National Chemical Construction Engineering No.14 Co. Ltd Financial Institution Bank or Institution Purpose Statements Sri Lanka Insurance Insurance Sri Lanka Corporation Development Road Authority Development Road Authority Development Road Authority Development Road Authority Petroleum Ceylon Corporation Airlines Sri Lankan Limited Petroleum Ceylon Corporation Road Development Development Road Authority Aviation Airport & (Sri Lanka) Services Limited National Water National Water Supply & Drainage Board NOTE – 33 – STATEMENT OF CONTINGENT LIABILITIES CONTINGENT OF – 33 STATEMENT NOTE 31.12.2019 AT AS TREASURY THE GENERAL ISSUED BY GUARANTEES BANK OF – 33(A) STATEMENT NOTE Road Development Development Road Authority National Water Supply & Drainage Board Building Materials Building Materials Ltd Corporation Development Road Authority Paddy Marketing Marketing Paddy Board Marketing Paddy Board Marketing Paddy Board Paddy Marketing Marketing Paddy Board
296 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... 5,397.70 Rs. Mn. Mn. J.Yen Outstanding Amount – Capital Outstanding Expiry Date of of Date Issue Date of of Date 1,351.90 6-Nov-19 12-Nov-20 – 5,000.00 6-Nov-19 31-Dec-20 3,750.00 11,000.00 4-Sep-19 31-Aug-20 1,155,459.05 778,305.35 Value of the Treasury Guarantees Guarantees Treasury the of Value 5.38 6-Nov-19 12-Nov-20 – 95.00 17,620.83 5-Nov-19 17-Sep-33 52.25 25,321.21 183.33 206.88 1.7012 183.33 206.88 1.7012 100.00 18-Oct-19 31-Dec-19 100.00 800.00 18-Oct-19 31-Dec-19 800.00 3,153.88 312.49 74,397.00 386,046.70 2,302.50 62.52 3,393.00 337,483.26 US$ Mn. Mn. Euro Mn. J.Yen Rs. Mn. US$ Mn. Mn. Euro 578,200.1564,648.03 126,564.18 386,046.70 422,116.72 12,933.19 5,772.17 337,483.26 Currency Loans Currency Facility Facility Credit to facilitate the facilitate to Credit imports Coal Loans Currency Facility Facility People's BankPeople's BankNational Savings BankPeople's Loan Term the Secure the Foreign Secure Loan Term the Secure People's BankPeople's CeylonBank of of open the Letter’s To the Foreign Secure BankPeople's BankNational Savings Loan Term the Secure Loan Term the Secure Financial Institution Bank or Institution Purpose Statements NOTE – 33 – STATEMENT OF CONTINGENT LIABILITIES CONTINGENT OF – 33 STATEMENT NOTE 31.12.2019 AT AS TREASURY THE GENERAL ISSUED BY GUARANTEES BANK OF – 33(A) STATEMENT NOTE Ceylon Petroleum Petroleum Ceylon Corporation John Sir General Defence Kotelawala University Airlines Sri Lankan Limited Lanka Coal Company Company Coal Lanka (Pvt) Ltd Petroleum Ceylon Corporation Airlines Sri Lankan Limited Electricity Ceylon Board Total
297 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
NOTE – 33(B) – STATEMENT OF LETTERS OF COMFORT ISSUED TO LOCAL BANKS AND THE LIABILITIES AS AT 31ST DECEMBER 2019
LC Amount Outstanding Amount – Capital Bank or Date of Date of Institution US$ Mn in Euro J.Yen Institution Issue Expiry US$ Mn. Rs. Mn. Rs. Mn. Mn. Mn. 1 Lanka Sathosa Limited People's Bank 21.50 1-Sep-14 31-Aug-15 1,238.00 2 Lanka Sathosa Limited Bank of Ceylon 45.00 31-Oct-14 30-Apr-15 6,547.60 3 Lanka Sathosa Limited Bank of Ceylon 11.25 30-Dec-14 31-Jul-15 4 Sri Lanka Tea Board Bank of Ceylon 500.00 22-Jul-16 31-Jul-20 35.64 5 Sri Lanka Tea Board People's Bank 500.00 22-Jul-16 31-Jul-20 87.53 Co-operative Paddy Marketing 6 Wholesale 440.00 11-Jan-17 11-Jan-18 400.00 Board Establishment Co-operative Paddy Marketing 7 Wholesale 440.00 1-Mar-17 22-Feb-18 289.60 Board Establishment Export Bank of Ceylon and 8 Development 60.00 29-Mar-18 31-Mar-25 60.00 Peoples Bank Board 9 Mihin Lanka Limited Bank of Ceylon 2.50 28-Jun-18 31-Dec-18 2.50 10 Mihin Lanka Limited People's Bank 2.50 28-Jun-18 31-Dec-18 2.50 11 Mihin Lanka Limited Bank of Ceylon 1,650.00 28-Jun-18 31-Mar-19 1,650.00 12 Mihin Lanka Limited People's Bank 1,650.00 28-Jun-18 31-Mar-19 1,650.00 13 Mihin Lanka Limited Bank of Ceylon 2.50 13-Sep-18 31-Dec-18 2.50 14 Mihin Lanka Limited People's Bank 2.50 13-Sep-18 31-Dec-18 2.50 Sri Lankan Air Lines 15 People's Bank 25.00 29-Mar-19 22-Feb-20 25.00 Limited Sri Lankan Air Lines 16 Bank of Ceylon 25.00 29-Mar-19 22-Feb-20 25.00 Limited Sri Lankan Air Lines 17 Bank of Ceylon 32.50 4-Apr-19 31-Dec-19 32.50 Limited Sri Lankan Air Lines 18 People's Bank 32.50 4-Apr-19 31-Dec-19 32.50 Limited Sri Lankan Air Lines 19 Bank of Ceylon 12,900.00 1-Jul-19 30-Jun-20 12,900.00 Limited Sri Lankan Air Lines 20 People's Bank 13,350.00 1-Jul-19 30-Jun-20 13,350.00 Limited Sri Lankan Air Lines 21 Bank of Ceylon 42.50 8-Oct-19 7-Oct-20 42.50 Limited Sri Lankan Air Lines 22 People's Bank 42.50 8-Oct-19 7-Oct-20 42.50 Limited 23 Lanka Sathosa Limited People's Bank 3,000.00 7-Oct-19 31-Dec-24 3,000.00
287.75 – – 210.00 – – 41,208.37 34,490.00 183.33 206.88 1.7012 183.33 206.88 1.7012
– – 38,499.30 – – 41,208.37 52,753.21 34,490.00 Total 87,243.21 79,707.67 Financial Statements
298 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Explanatory Notes Defunct Institutions
Note 16 – Statement of Non-Current Institutions namely CWG Hambanthota 2018, Assets Mihin Lanka (Private) Ltd, Lanka Fabrics Ltd., Rajarata Food Grain Ltd., State Resource As stated in the Statement of Financial Position Management Corporation Ltd. and Ceylon up to 31st December 2019, 20 Special Spending Ceramics Corporation are in the process Units, 35 Ministries, 93 Departments and of winding up. Hence once the winding up 25 District Secretariats have reported non- process are completed, Treasury Books will be financial assets at cost or revalued amount adjusted accordingly. amounting to Rs. 1,355,270,211,298/-. Balance part of the non-financial assets of the above Treasury Bond (9093) mentioned institutes if any, and other Ministries / Departments which have not yet been Face value of Treasury Bond as at 31st December recorded the non-financial assets will also be 2019 is Rs. 4,656,525,835,499/-. (Shedule V) bringing to the same system gradually, to be completed by 2020.
Schedule IV – Total Revenue and Expenditure of Provincial Councils
Total Revenue of Rs. 91,303,417,723/- and Total Expenditure of Rs. 316,301,772,906/- were reported in respect of 9 Provincial Councils (Provisional figures) during the financial year.
Adopt New Accounting Policies
Previously adopted accounting method on reporting Treasury Bonds was revised from the year 2016. From 2016 and onward Treasury Bonds are recorded on their face value, and required adjustments have been done accordingly. However, due to unavailability of the adequate budgetary provisions, accounting of accumulated discount value of the Treasury bond issued prior to 2016 was not accounted and face value at maturity is disclosed in way of Schedule V. Financial Statements
299 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Schedule I – STATEMENT OF CAPITAL INVESTMENT IN DEVELOPMENT PROJECTS – 2019 Rs.’000 Expenditure Head Institution Project Description Provision (Rs) Expenditure (Rs) as % of No Provision Ministry of Buddhasasana & Wayamba 101 Other Capital Expenditure 688,000,000 356,655,311 52 Development 103 Ministry of Defence Strategic Defence Communication Network 570,270,600 255,739,915 45 Ministry of National Policies, Economic Affairs, Resettlement & Rehabilitation, Northern Upgrading of Katunayake Engineering Technology 104 310,000,000 308,952,395 100 Province Development, Vocational Training & Institute Skills Development and Youth Affairs Other Capital Expenditure 500,000,000 108,158,465 22 Upgrading of Katunayake Engineering Technology 430,000,000 417,230,810 97 Institute Decentralized Budget 2,350,000,000 1,418,453,912 60 Gamperaliya – Rapid Rural Development Programme 48,000,000,000 34,480,052,152 72 2018–2019 Rural Infarstructure Development Programme 13,825,000,000 4,584,079,413 33 110 Ministry of Justice & Prison Reforms USAID-Funded Core Justice 6,346,163 6,346,161 100 Ministry of Health, Nutrition and Indigenous Landscape Development of the Kandy Teaching Hospital 111 58,000,000 57,640,245 99 Medicine (GOSL-Australia) Strenthening Patient Care Services by Establishing Clinical Wastw Management Systems in the Needy 18,000,000 17,689,870 98 Hospitals Comes under the Provincial Councils in Sri Lanka (GOSl-Australia) Strenthening Patient Care Services by Establishing Clinical Waste Management Systems in the Needy 50,861,527 50,861,527 100 Hospitals Comes under the Provincial Councils in Sri Lanka (GOSL-Australia) Programme for Strenthening Primary Level Health Care 80,000,000 71,452,551 89 Funded Activities by SAARC Funds 10,000,000 4,156,474 42 Development of Homeopathic System 4,750,000 89,250 2 Health Sector Training 15,000,000 11,050,916 74 Upgrading of Nurses Training Schools 225,000,000 187,000,000 83 Ministry of Highways & Road Development and Northern Road Connectivity Project – Supplementary 117 896,000,000 514,823,002 57 Petroleum Resources Development Loan (GOSL-ADB) Widening & Improvements of Road – Matale District 51,200,000 39,572,468 77 Outer Circular Highway-Phase III from Kadawatha to 30,383,000,000 14,778,384,653 49 Kerawalapitiya (GOSL-China Exim Bank) Outer Circular Highway-Phase III from Kadawatha to 636,670,000 229,591,482 36 Kerawalapitiya (GOSL-China Exim Bank) Colombo-Rathnapura-Pelmadulla Expressway 36,000,000 35,000,000 97 Elevated Highway from New Kelani Bridge to 112,000,000 107,200,000 96 Athurugiriya Port Access Elevated Highway (GOSL-ADB) 6,500,800,000 69,982,458 1 Port Access Elevated Highway (GOSL-ADB) 550,000,000 39,769,455 7 Central Expressway 72,000,000 72,000,000 100 Central Expressway 404,000,000 322,193,030 80 Extension of Southern Expressway-from Matara to 77,193,000,000 35,305,996,948 46 Hambantota (GOSL-China) Extension of Southern Expressway-from Matara to 375,000,000 289,300,403 77 Hambantota (GOSL-China) Extension of Southern Expressway-from Matara to 2,063,000,000 618,244,103 30 Hambantota (GOSL-China) Baseline Road – Phase III 10,000,000 9,944,753 99 Road Maintenance Trust Fund 5,000,000,000 4,961,321,124 99 Road Sector Assistant Project – II (GOSL-World Bank) 1,150,000,000 1,150,000,000 100 Network Planning & Road Safety 25,000,000 7,734,299 31 Traffic Management 64,000,000 20,014,833 31 Rehabilitation of Peradeniya-Badulla Road from Badulla 1,700,000,000 953,396,194 56 to Chenkalady (GOSL-SFD) Rehabilitation of Peradeniya-Badulla Road from Badulla 167,000,000 50,997,000 31 to Chenkalady (GOSL-SFD) Road Network Development Project (GOSL-SFD) 490,800,000 218,455,012 45 Road Network Development Project (GOSL-SFD) 10,000,000 6,850,000 69 Nothern Road Connectivity Project – Supplementary 115,500,000 31,131,317 27 Loan (GOSL-ADB) Road Network Development Project (GOSL-OPEC) 121,000,000 66,698,646 55 Road Network Development Project (GOSL-OPEC) 25,000,000 18,000,000 72 Colombo District Road Development Project (GOSL- 800,000,000 285,575,147 36 OFID) Colombo District Road Development Project (GOSL- 50,000,000 44,450,000 89 OFID) Financial
Statements Rehabilitation & Improvement of Priority Roads 3-Phase 4,216,000,000 1,955,848,180 46 I (GOSL-CDB)
300 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Schedule I – STATEMENT OF CAPITAL INVESTMENT IN DEVELOPMENT PROJECTS – 2019 Rs.’000 Expenditure Head Institution Project Description Provision (Rs) Expenditure (Rs) as % of No Provision Rehabilitation & Improvement of Priority Roads 3-Phase 753,000,000 572,500,000 76 I (GOSL-CDB) Western Province National Highways (GOSL-OFID) 644,000,000 440,181,227 68 Western Province National Highways (GOSL-OFID) 100,000,000 78,905,000 79 Rehabilitation of Peradeniya-Badulla Road from Badulla 1,608,000,000 840,824,784 52 to Chenkalady (GOSL-OFID) Rehabilitation of Peradeniya-Badulla Road from Badulla 50,000,000 48,500,000 97 to Chenkalady (GOSL-OFID) Rehabilitation of Peradeniya-Badulla Road from Badulla 230,000,000 200,000,000 87 to Chenkalady (GOSL-OFID) Expressway Connectivity Improvement Plan Project 18,000,000 17,750,566 99 (GOSL-ADB) Expressway Connectivity Improvement Plan Project 1,000,000 511,581 51 (GOSL-ADB) Southern Road Connectivity Project (GOSL-ADB) 1,693,000,000 998,638,272 59 Southern Road Connectivity Project (GOSL-ADB) 60,000,000 60,000,000 100 Southern Road Connectivity Project (GOSL-ADB) 25,000,000 22,500,000 90 Integrated Road Investment Programme – (I Road) 19,259,800,000 11,444,529,023 59 (GOSL-ADB) Integrated Road Investment Programme – (I Road) 85,000,000 70,000,000 82 (GOSL-ADB) Widening & Improvements of Roads and Bridges in 1,720,000,000 878,051,275 51 Central and Uva Provices (GOSL-EXIM China) Widening & Improvements of Roads and Bridges in 157,500,000 157,250,000 100 Central and Uva Provices (GOSL-EXIM China) Rehabilitation and Improvement of Priority Roads 3,598,000,000 2,457,619,650 68 3-Phase II (GOSL-CDB) Rehabilitation and Improvement of Priority Roads 569,500,000 569,500,000 100 3-Phase II (GOSL-CDB) Transport Project Preparatory Facility (GOSL-ADB) 110,000,000 37,781,246 34 Transport Project Preparatory Facility (GOSL-ADB) 18,500,000 3,753,779 20 Transport Connectivity & Asset Management Project 54,000,000 53,607,158 99 (GOSL-WB) Transport Connectivity & Asset Management Project 17,000,000 16,939,773 100 (GOSL-WB) Marine Drive Extention upto Panadura 84,000,000 43,500,000 52 Gap Financing of the Road Development Authority's 39,672,000,000 39,671,346,714 100 Commitments Surveys, Investigations and Feasibility Studies 83,800,000 71,500,000 85 Widening and Improvements of Roads – Jaffna District 176,100,000 176,021,410 100 Widening and Improvements of Roads – Kilinochchi 320,000,000 313,224,468 98 District Widening and Improvements of Roads – Mannar District 3,000,000 1,115,557 37 Widening and Improvements of Roads – Colombo 300,000,000 270,498,755 90 District Widening and Improvements of Roads – Vavuniya District 71,900,000 63,783,121 89 Widening and Improvements of Roads – Mullaitivu 6,000,000 2,812,954 47 District Widening and Improvements of Roads – Batticaloa 60,000,000 43,527,372 73 District Widening and Improvements of Roads – Ampara District 90,000,000 72,098,314 80 Widening and Improvements of Roads -Trincomalee 82,600,000 61,150,044 74 District Widening and Improvements of Roads -Kurunegala 473,000,000 470,036,908 99 District Widening and Improvements of Roads -Puttalam District 125,000,000 118,875,187 95 Widening and Improvements of Roads -Anuradhapura 267,000,000 262,964,952 98 District Widening and Improvements of Roads -Pollonnaruwa 44,000,000 43,904,985 100 District Widening and Improvements of Roads -Badulla District 55,000,000 54,417,683 99 Widening and Improvements of Roads -Gampaha District 300,000,000 268,138,349 89 Widening and Improvements of Roads -Monaragala 50,000,000 41,736,090 83 District Widening and Improvements of Roads -Kegalle District 71,000,000 46,143,483 65 Widening and Improvements of Roads -Rathnapura 137,000,000 135,622,010 99 District Widening and Improvements of Roads -Tax Component 560,000,000 438,971,899 78 National Savings Bank Funded Projects 3,000,000,000 2,735,000,000 91 Financial
Widening and Improvements of Roads -Kalutara District 142,000,000 109,367,663 77 Statements Widening and Improvements of Roads -Kandy District 275,000,000 236,149,324 86
301 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Schedule I – STATEMENT OF CAPITAL INVESTMENT IN DEVELOPMENT PROJECTS – 2019 Rs.’000 Expenditure Head Institution Project Description Provision (Rs) Expenditure (Rs) as % of No Provision Widening and Improvements of Roads -Nuwara Eliya 80,000,000 76,336,217 95 District Widening and Improvements of Roads -Matara District 650,000,000 202,117,186 31 Widening and Improvements of Roads -Galle District 97,000,000 79,566,737 82 Widening and Improvements of Roads -Hambantota 160,400,000 160,346,866 100 District Construction of Rural Bridges Using Old Bridge 262,700,000 178,795,972 68 Component Regional Bridge Project (GOSL-UK) Phase II 250,000,000 157,000,000 63 Reconstruction of 25 Bridges on National Highways 575,000,000 157,036,795 27 (GOSL-Kuwait) Reconstruction of 25 Bridges on National Highways 25,000,000 24,912,945 100 (GOSL-Kuwait) Reconstruction of 46 Bridges and Widening and Reconstruction of Bridges on National Road Network 20,000,000 19,540,000 98 (GOSL-France) Major Bridges Construction Project of National Road 1,152,000,000 1,120,082,364 97 Network (GOSL-JICA) Major Bridges Construction Project of National Road 134,100,000 131,612,811 98 Network (GOSL-JICA) Construction Kochchikade Bridge on Peliyagoda- 121,200,000 121,199,718 100 Puttalam Road (GOSL-Austria) Construction Kochchikade Bridge on Peliyagoda- 10,000,000 10,000,000 100 Puttalam Road (GOSL-Austria) Second New Kelani Bridge Construction Project (GOSL- 12,230,330,000 6,824,635,054 56 JICA) Second New Kelani Bridge Construction Project (GOSL- 135,000,000 122,758,302 91 JICA) Establishment of Bridge Maintenance System and Bridge Assessment Unit in the Road Development Authority 5,000,000 259,453 5 (GOSL-JICA) Construction of 03 FLY Overs at Rajagiriya, Polgahawela 85,000,000 67,000,000 79 & Ganemulla (GOSL-Spain) Reconstruction of Damaged/Weak Bridges on National 325,300,000 325,300,000 100 Highways Pro-Poor Eastern Infrastructure Development (GOSL- 2,854,000,000 2,355,844,374 83 Japan) Pro-Poor Eastern Infrastructure Development (GOSL- 600,000,000 370,500,000 62 Japan) Rural Road Reawakening Programme (Maga Neguma) 1,200,000,000 1,197,522,861 100 "Ran Mawath" Rural Roads Maintenance and 10,000,000,000 2,784,028,706 28 Construction Programme Ministry of Agriculture, Rural Economic Affairs, Climate Resilience Improvement Project (GOSL/World 118 Livestock Development, Irrigation and Fisheries 2,819,020,000 1,856,875,053 66 Bank) Additional Financing & Aquatic Resources Development Lower Malwathuoya Multi Sector Development Project 275,000,000 72,565,059 26 Climate Resilience Improvement Project (GOSL/World 4,376,190,000 2,818,532,858 64 Bank) Climate Resilience Improvement Project (GOSL/World 120,040,000 56,054,552 47 Bank) Gin Nilwala Diversion Project 50,000,000 13,438,996 27 Climate Resilience Improvement Project (GOSL/World 2,790,000 2,742,116 98 Bank) Additional Financing Productivity Enhancement and Irrigation System 1,000,000,000 582,980,326 58 Efficiency Management Project Mahaweli Left Bank Lower Basin Development Project 100,000,000 75,169,417 75 (GOSL-Saudi) Supply of Potable Water to the Population in the Jaffna Peninsula through the Development of Water Resources 50,000,000 17,759,654 36 in the Vadamarachchi Lagoon Rehabilitation of Major and Medium Irrigation Schemes 585,000,000 284,177,096 49 Including Emergency Infrastructure Rehabilitation Dickowita Fishery Harbour 13,430,000 13,425,535 100 Stocking of Fish Fingerlings in Fresh Water Bodies to 30,000,000 29,985,805 100 Develop Inland Fisheries Development and Rehabilitation of Fishery Harbours, 586,570,000 280,458,227 48 Anchorages and Landing Sites Enhancing Fish Breeding Capacity 100,000,000 89,481,216 89 Fishery Community Empowerment 100,000,000 54,194,486 54 National Food Production Programme 25,000,000 25,000,000 100 Development and Upgrading of Fishery Harbours in Financial
Statements Chillaw, Mirissa, Kalmunai, Valvettithurai, Karainagar and 100,000,000 59,669,957 60 Puranawella
302 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Schedule I – STATEMENT OF CAPITAL INVESTMENT IN DEVELOPMENT PROJECTS – 2019 Rs.’000 Expenditure Head Institution Project Description Provision (Rs) Expenditure (Rs) as % of No Provision Establishment of Aquaculture Park 100,000,000 99,997,328 100 Northern Province Sustainable Fishery Development 500,000,000 31,317,184 6 Programme (ADB/GOSL) Northern Province Sustainable Fishery Development 192,730,000 22,428,274 12 Programme (ADB/GOSL) Improvement of Fishery Villages in 10 Costal Districts 100,000,000 46,306,039 46 Including Hambantota, Jaffna and Batticaloa Establishment of Integrated Inland Fishery Villages 200,000,000 92,615,366 46 "Wawak Sahitha Gamak Programme" Expantion of Operations of NAQDA 40,000,000 33,002,419 83 Develop the Gandara Fishery Harbour and Developing a 800,000,000 639,702,501 80 New Fishery Harbour in Wellamankara Develop Myliddy Harbour in to a Fishery Harbour and 100,000,000 86,970,568 87 Establish Cool Rooms and Storage Facilities Establishmemnt of Economic Centers 10,000,000 9,173,881 92 Development and Improvement of Traditional Handicraft 20,000,000 16,508,479 83 Villages Development of Pottery Villages 10,000,000 8,205,117 82 Kithul Development Project 5,000,000 5,000,000 100 Development of Rural Infrastructure Facilities and 270,000,000 127,049,803 47 Livelihood Development Medium Term Livestock Development Programme 20,000,000 10,358,322 52 Development of Small and Medium Scale Poultry Farming 5,000,000 3,558,869 71 System Swine Industry Development 3,000,000 2,258,157 75 Facilitation and Promotion of Liquid Milk Consumption 55,000,000 14,088,943 26 Importation of 20,000 Dairy Animals (GOSL/Australia) 3,040,000,000 3,022,493,463 99 Importation of 20,000 Dairy Animals (GOSL/Australia) 100,000,000 10,749,029 11 Development of Mini Dairy Cooporative Societies 65,000,000 15,380 0 Rehabilitaion of Small Tanks and Canals 200,000,000 196,857,957 98 Restoration, Rehabilitation and Desilting of 1,500 Small 750,000,000 640,765,457 85 Tanks Climate Smart Irrigated Agriculture Project (CSIAP) 240,000,000 85,909,995 36 (GOSL/WB) Ministry of Power, Energy and Business 119 Electricity Facilities for Sacred Areas 140,000,000 55,816,014 40 Development Appropriate Mitigation Actions in the Energy Generation and End -Use Sectors in Sri Lanka Project (GEF/UNDP/ 32,100,000 29,157,032 91 FAO) Supporting Electricity Suppy Reliability Improvement 30,000,000 18,571,213 62 Project (ADB) Implemented SLSEA Ministry of Housing, Construction and Cultural Development of Training Infrastructure at Operator 123 53,000,000 53,000,000 100 Affairs Training Centre at Galkulama Implementation of UN Habitat Programmes 5,000,000 2,545,007 51 Implementation of UN Habitat Programmes 38,000,000 6,940,000 18 Middle Income Housing Project 182,539,000 133,530,892 73 Renovation of Housing Schemes 200,000,000 200,000,000 100 Shilpa Gammana Programme 2,000,000 190,500 10 Ministry of Primary Industries and Social Research, Development and Promotion of Export 124 600,000,000 392,697,050 65 Empowerment Industries 126 Ministry of Education Maintenace of WASH Facilities 20,000,000 4,226,228 21 Maintenance of WASH Facilities 300,000,000 64,607,377 22 Providing Electricity Facilities for the Schools 150,000,000 57,146,197 38 Providing Sanitory and Water Facilities for all Schools 500,000,000 214,596,886 43 Ministry of Public Administration and Disaster 130 Other Capital Expenditure 25,000,000 12,889,979 52 Management Rehabilitation and Reconstruction Activities of the Areas 1,774,460,000 1,084,761,640 61 Affeted by Floods and Landslides Ministry of Hill Country New Villages, 140 Livelihood and Basic Facility Improvement in Rural Areas 100,000,000 32,612,964 33 Infrastructure and Community Development Lagging Area Socio-Economic Development Project 600,000,000 328,406,620 55 Estate Housing Programme 2,100,000,000 811,601,505 39 Upgrading Vocational Training Centre in Hatton 320,000 318,869 100 Indian Grant Assisted Housing Programme 1,373,539,000 1,373,539,000 100 Indian Grant Assisted Housing Programme 100,000,000 95,086,529 95 Ministry of Industry and Commerce, Expediting the Rehabilitation Work of Mannar Town Area 149 Resettlement of Protracted Dispalced Persons 200,000,000 74,991,019 37 and Silavathurei Township Development and Co-operative Development Financial
Upgrading and Modernizatioan of Mini Industrial Estates 100,000,000 59,983,702 60 Statements Improvements in Elephant Pass Saltern 1 10,000,000 5,491,149 55
303 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Schedule I – STATEMENT OF CAPITAL INVESTMENT IN DEVELOPMENT PROJECTS – 2019 Rs.’000 Expenditure Head Institution Project Description Provision (Rs) Expenditure (Rs) as % of No Provision Industrial Estates Development Programmes 425,000,000 176,604,754 42 Ministry of Internal and Home Affairs and 155 Providing Sanitary facilities for National Heritage Sites 5,000,000 1,000,000 20 Provicial Councils & Local Government Greater Colombo Water and Waste Water Investment 120,000,000 105,039,904 88 Management Programme -Tranche 2 – (GOSL/ADB) Greater Colombo Water and Waste Water Investment 41,702,868 28,000,000 67 Management Programme -Tranche 2 – (GOSL/ADB) Sewerage System Infrastructure Development – 400,000,000 299,359,741 75 Colombo Municipal Council Greater Colombo Water and Waste Water Improvement 1,300,000,000 882,480,035 68 Investment Programme – Tranche 3 (GOSL/ADB) Greater Colombo Water and Waste Water Improvement 425,000,000 358,216,277 84 Investment Programme – Tranche 3 (GOSL/ADB) Transport Connectivity and Asset Management Project 420,000,000 100,669,666 24 (Provincial Road Development Project) (GOSL /WB) Transport Connectivity and Asset Management Project 100,000,000 1,051,666 1 (Provincial Road Development Project) (GOSL /WB) Greater Colombo Waste Water Management Project – 1,372,000,000 698,253,558 51 (GOSL/ADB) Greater Colombo Waste Water Management Project – 315,000,000 275,000,000 87 (GOSL/ADB) Construction of Rural Bridges (GOSL/UK) 525,000,000 238,582,868 45 Construction of Rural Bridges (GOSL/UK) 150,797,132 150,797,132 100 Construction of Rural Bridges (GOSL/NETHERLAND) 206,526,514 206,526,513 100 Ministry of Tourism Development, Wildlife and 159 Development of 6 Forts 190,000,000 47,761,087 25 Christian Religious Affairs Upgrading the Railway Stations and declared as 50,000,000 8,710,534 17 Archaeological sites Ministry of Mahaweli Development and Eco Systems Conservation and Management Project 160 1,000,000,000 736,501,284 74 Environment (GOSL / WB) Eco Systems Conservation and Management Project 35,000,000 7,920,935 23 (GOSL / WB) Gampaha District Integrated Solid Waste Management 19,000,000 15,000,000 79 Project Pilisaru Programme 79,000,000 49,000,000 62 Construction of Solid Waste Disposal Facilities – Anuradhapura, Hikkaduwa, Udunuwara and Panadura 1,000,000,000 43,577,085 4 (GOSL/Korea) Construction of Solid Waste Disposal Facilities – Anuradhapura, Hikkaduwa, Udunuwara and Panadura 200,000,000 22,562,549 11 (GOSL/Korea) Water Resources Development Investment Programe 4,150,000,000 2,244,394,359 54 (GOSL / ADB) Water Resources Development Investment Programe 2,600,000,000 1,144,000,000 44 (GOSL / ADB) Moragahakanda and Kaluganga Reservoir Project (GOSL 7,560,000,000 5,409,702,823 72 -China, Kuwait & Saudi) Moragahakanda and Kaluganga Reservoir Project (GOSL 5,810,000,000 2,075,032,270 36 -China, Kuwait & Saudi) Moragahakanda and Kaluganga Reservoir Project (GOSL 1,620,000,000 1,097,129,018 68 -China, Kuwait & Saudi) Moragahakanda and Kaluganga Reservoir Project (GOSL 1,400,000,000 807,000,000 58 -China, Kuwait & Saudi) Rambakan Oya Intergrated Development Project 110,000,000 71,000,000 65 Agriculture and Livestock Programme Implemented by 200,000,000 159,500,000 80 Sri Lanka Mahaweli Authority Maduru Oya – Right Bank Development Project (GOSL/ 10,000,000 51,891 1 China) Mahaweli Consolidation Project (System B Rehabilitation) 260,000,000 120,000,000 46 Uma Oya Diversion Project 7,323,000,000 5,638,410,189 77 Rehabilitation of Major and Medium Irrgation Schemes 120,000,000 73,500,000 61 Including Emergency Infrastructure Rehabilitation Works Redeemaliyadda Integrated Development Project 100,000,000 53,000,000 53 Welioya Intergrated Development Project 300,000,000 179,000,000 60 Maduru Oya Right Bank Development (System B) 100,000,000 40,000,000 40 Ministry of Megapolis and Western 162 Metro Colombo Solid Waste Management Project 10,568,000,000 8,585,750,045 81 Development Relocation of Manning Market at Peliyagoda 1,500,000,000 1,263,870,601 84 Establishment of Project Offices for proposed Western 300,000,000 245,615,875 82 Region Magapolis Authority
Financial Development of Strategic Cities – Jaffna (GOSL-World Statements 875,000,000 818,444,927 94 Bank) Development of Strategic Cities – Jaffna (GOSL-World Bank) 200,000,000 122,000,000 61
304 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Schedule I – STATEMENT OF CAPITAL INVESTMENT IN DEVELOPMENT PROJECTS – 2019 Rs.’000 Expenditure Head Institution Project Description Provision (Rs) Expenditure (Rs) as % of No Provision Development of Strategic Cities – Anuradhapura – 55,000,000 54,612,174 99 (GOSL- AFD) Development of Strategic Cities – Anuradhapura – (GOSL- AFD) 10,000,000 4,164,253 42 Port City Development Project 400,000,000 229,223,782 57 Town Development Projects in Nine Provinces 5,106,000,000 3,906,273,187 77 Light Rail Transit System Project (GOSL/JICA) 3,000,000,000 1,176,587,696 39 Light Rail Transit System Project (GOSL/JICA) 1,375,000,000 446,897,673 33 Beira Lake Rehabilitation and Redevelopment Project 400,000,000 304,728,370 76 Urban Regeneration Programme 9,100,000,000 8,733,051,643 96 Improving Bus Service to Promote Public Transport 700,000,000 571,139,187 82 Bogambara Prison Precinct Redevelopment Project 130,000,000 119,403,545 92 Improvement of Road Infrastructure in the Homagama 600,000,000 402,734,984 67 Region (Tech City) Weras Ganga Storm Water Drainage & Environment 1,699,000,000 1,570,998,614 92 Improvement Project Espace Nilwala Project 250,000,000 120,190,064 48 Establish Haritha Udyana in every Pradeshiya Saba 400,000,000 256,181,495 64 Division as a Public Private Partnership Implementation of Megapolis Development Projects and 150,000,000 52,410,627 35 Land Acquisition Metro Colombo Urban Development Project (GOSL / 7,397,000,000 7,334,057,576 99 World Bank) Metro Colombo Urban Development Project (GOSL / 1,800,000,000 1,625,309,824 90 World Bank) Urban Project Preparatory Facility (GOSL/ADB) 165,000,000 48,069,329 29 Urban Project Preparatory Facility (GOSL/ADB) 60,000,000 21,509,534 36 Administrative City Development Project 110,000,000 51,894,193 47 Restoration of Water Quality of Beira Lake (B.P.No.130) 500,000,000 15,104,509 3 "Sahasara Bus Modernization" Programme 100,000,000 59,881,563 60 Greater Colombo Urban Transport Development Project 700,000,000 596,700,533 85 -Phase I – (GOSL/Japan) Development of Strategic Cities – Kandy & Galle (GOSL/ 2,560,000,000 2,539,493,656 99 World Bank) Development of Strategic Cities – Kandy & Galle (GOSL/ 1,200,000,000 1,045,168,443 87 World Bank) Ministry of City Planning and Water Supply and 166 Improvement of Rural Water Supply and Sanitation 200,000,000 63,889,375 32 Higher Education Prevention of Water Borne Diseases in the Chronic 600,000,000 226,020,523 38 Kidney Disease Affected Areas Water Supply and Sanitation Improvement Project (GOSL-WB) 5,350,000,000 5,234,478,532 98 Water Supply and Sanitation Improvement Project (GOSL-WB) 200,000,000 167,066,043 84 Second Phase of the Pipe Laying Project from Andaragasyaya Underground Tank to Gonnoruwa in 50,000,000 11,795,357 24 Hambantota District China-Sri Lanka Grant Research project (for the 250,000,000 243,544,490 97 Investigation of Chronic Kidney Disease) China-Sri Lanka Grant Research project (for the 350,000,000 187,413,997 54 Investigation of Chronic Kidney Disease) Thissamaharama Water Supply Scheme 50,000,000 7,315,234 15 Intergrated Townships in Samanthurai and Kalmunai 78,600,000 78,405,959 100 Implementation of Rain Water Harvesting Programme 5,000,000 3,818,479 76 Water Supply Facilities for Resettlement Villages in 186,600,000 51,748,725 28 Kegalle District Augmentation of Trincomalee Water Supply Scheme 200,000,000 69,148,679 35 Establishment of a Regional Secretariat for the South 5,000,000 4,788,028 96 Asian Conference on Sanitation (GOSL/UNICEF) Development of Townships in Lagging Regions 1,550,000,000 731,739,280 47 Hosting International Water Association, Water and Development Congress and Exhibition 2019 on Sustainable 20,000,000 11,360 0 Solution for Water Security in Colombo, Sri Lanka Project for Enhancement of Operational Efficiency and Assets Management Capacity of Regional Support 15,000,000 1,285,571 9 Centre – Western South of NWS&DB in Sri Lanka(GOSL / JICA) Catchment Protection & Prevention of Pollution at 5,000,000 2,619,491 52 Sources Water Supply Scheme at Madhu Church for Providing 100,000,000 43,282,774 43 Drinking Water for Devotees Township Development in Kalmunai, Valachanei, Thalai
1,000,000,000 65,399,702 7 Financial Mannar and Samanthurai Statements South Asia Conference on Sanitation, Follow up Action 20,000,000 13,899,898 69 -All Island Sanitation Programme
305 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Schedule I – STATEMENT OF CAPITAL INVESTMENT IN DEVELOPMENT PROJECTS – 2019 Rs.’000 Expenditure Head Institution Project Description Provision (Rs) Expenditure (Rs) as % of No Provision System of Issuing Certificate of Competencies & Seafarer Ministry of Ports & Shipping and Southern 176 Continuous Discharge Certificate with Biometric to 30,000,000 22,467,246 75 Development Comply with Seafarer Identity Document Developing Jetty Facilities in the Jaffna Peninsula and 16,000,000 1,418,218 9 Suburban Islands Improvement of Port & Nautical Activities of Trincomalee 180,000,000 180,000,000 100 Port (GOSLJapan) Improvement of Port & Nautical Activities of Trincomalee 300,000,000 178,711,722 60 Port (GOSLJapan) Ministry of Telecommunications, Foreign 194 Development of Sports Infrastructure 450,000,000 267,283,042 59 Employment and Sports Development of Cricket in 1000 outstation schools 80,000,000 59,516,075 74 Infrastructure Development of Sports Schools 55,500,000 11,526,455 21 Ministry of Development Strategies and 195 Create dedicated industry zones for boat building 76,000,000 38,495,715 51 International Trade Provide infrastructure facilities for Rojana industrial park 989,500,000 475,000,000 48 in Milleniya Establishing industrial zones in Bingiriya and Weligama 639,000,000 629,100,000 98 Infrastructure Facilities for Bingiriya & Wagawatta 500,000,000 420,000,000 84 Industrial Zones Department of Muslim Religious and Cultural Construction of Islamic Cultural Centres & Improvement 202 25,000,000 12,722,631 51 Affairs of Mosques Department of Hindu Religious and Cultural Renovation and Rehabilitation of Infrastructure Facilities 204 88,000,000 87,894,056 100 Affairs of Hindu Temples 209 Department of National Archives Archival Management Project 20,000,000 3,503,245 18 Computerization of Indices at the National Archives of 6,000,000 932,311 16 Sri Lanka Digitization & Publishing of the Map Collection 3,000,000 1,889,449 63 212 Department of Examinations Examination Reforms 40,000,000 164,557 0 Other Capital Expenditure 500,000,000 240,039,504 48 223 Sri Lanka Navy Construction of Quay at Dockyard – Trincomalee 1,000,000,000 136,804,602 14 Other Capital Expenditure 130,000,000 65,553,394 50 Department of Project Management and 280 Project Evaluation and Web Based Monitoring System 3,500,000 2,848,269 81 Monitoring Development of Minor Irrigation Systems and Abandoned 281 Department of Agrarian Development 2,960,000,000 1,176,588,258 40 Paddy lands Development of Village Tank Cascades Systems (Ellangawa) 200,000,000 172,531,693 86 284 Department of Wildlife Conservation Other Capital Expenditure 10,000,000 6,455,408 65 Improvement of Road Network in National Parks 30,000,000 22,129,043 74 Develop Maduru oya and Gal oya National parks to 60,000,000 59,955,335 100 support Tented Safari's ect Habitat Enrichment for Wildlife 30,000,000 12,652,402 42 285 Department of Agriculture Improvement of School of Agriculture 40,000,000 23,898,605 60 Accelerated Seed Farms Development Programme 87,690,000 87,528,529 100 289 Department of Export Agriculture Other Capital Expenditure 1,200,000 1,157,243 96 Other Capital Expenditure 1,100,000 1,060,965 96 Introduction of Modern Technology for Small and 290 Department of Fisheries and Aquatic Resources 24,385,000 7,609,659 31 Medium Fishing Industry 50% of the Cost of Improving the Operational Efficiency 69,560,000 36,365,871 52 in Multi Day Boats 294 Department of National Zoological Gardens Development of Safari Park at Hambantota 50,000,000 32,117,443 64 311 Department of National Physical Planning Physical Plans and Rsearch Activities 5,000,000 959,210 19 Township Development Plans – New Town at 42,554,000 3,922,214 9 Anuradhapura Lolugaswewa Project 322 Department of National Botanical Gardens Development of Royal Botanical Garden Project 80,000,000 79,949,873 100 Department of National Community Water 332 Improvement of Community Water Supply 200,000,000 103,654,869 52 Supply Development of Water Safety Plans for Community 1,600,000 163,440 10 Managed Water Schemes (UNICEF) "Praja Jala Abhiman" Water Supply Scheme 1,500,000,000 329,766,034 22 Total 446,556,471,804 280,484,093,192 Financial Statements
306 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs.’000 793,510 346,258 447,252 44 Total Recurrent Capital 29,570 28,613 957 97 28,470 27,966 504 98 1,100 647 453 59 647,440 493,623 153,817 76 461,440 453,434 8,006 98 186,000 40,189 145,811 22 136,000 78,653 57,347 58 71,740 50,000 21,740 70 64,260 28,654 35,606 45 204,483 180,614 23,869 88 139,519 119,911 19,608 86 64,964 60,703 4,261 93 389,000 319,029 69,971 82 242,000 207,950 34,050 86 147,000 111,079 35,921 76 2,137,615 1,174,927 962,688 55 299,933 287,873 12,059 96 1,837,683 887,054 950,629 48 2,593,130 1,344,921 1,248,209 52 324,130 303,683 20,447 94 2,269,000 1,041,238 1,227,762 46 5,268,701 3,770,509 1,498,192 72 1,864,821 1,837,666 27,155 99 3,403,880 1,932,844 1,471,036 57 3,690,490 1,867,540 1,822,950 51 723,790 446,911 276,879 62 2,966,700 1,420,629 1,546,071 48 Provision Provision Expenditure Savings % Provision Expenditure Savings % Provision Expenditure Savings % Development Development Bribery or Corruption Parliament Administration Public Distribution Relations and Information Technology and Information Research Financial Statements 1 the President Excellency His 15,297,472 10,257,677 5,039,795 67 3,577,757 3,378,198 199,559 94 11,719,715 6,879,479 4,840,236 59 7 Commission Service Judicial 100,996 86,490 14,506 86 91,396 83,303 8,093 91 9,600 3,187 6,413 33 4 the Superior Courts of Judges 328,230 251,555 76,675 77 260,330 212,308 48,022 82 67,900 39,248 28,652 58 6 Commission Service Public 261,830 250,453 11,377 96 222,841 215,525 7,316 97 38,989 34,929 4,060 90 9 Appeals Tribunal Administrative 29,320 28,586 734 97 28,245 27,946 299 99 1,075 640 435 60 5 the Cabinet Ministers of Office 155,387 119,923 35,464 77 123,183 114,631 8,552 93 32,204 5,292 26,912 16 2 the Prime Minister of Office 1,720,970 881,258 839,712 51 901,970 807,178 94,792 89 819,000 74,080 744,920 9 8 Commission Police National 162,466 154,629 7,837 95 155,561 148,454 7,107 95 6,905 6,176 729 89 11 Commission the Finance of Office 194,300 183,809 10,491 95 74,910 70,609 4,301 94 119,390 113,200 6,190 95 17 Parliament the House of the Leader of of Office 46,936 44,468 2,467 95 45,336 43,091 2,245 95 1,600 1,378 222 86 13 Sri Lanka of Human Rights Commission 243,649 220,974 22,675 91 222,064 206,891 15,173 93 21,585 14,083 7,502 65 16 Parliament 3,677,263 2,823,316 853,947 77 2,863,888 2,647,273 216,615 92 813,375 176,043 637,332 22 19 the Opposition of the Leader of of Office 12 Commission National Education 52,083 44,360 7,723 85 42,733 39,806 2,927 93 9,350 4,554 4,796 49 21 National Audit Office 2,095,498 1,907,289 188,209 91 1,799,098 1,795,377 3,721 100 296,400 111,912 184,488 38 51 Digital Infrastructure Non Cabinet Ministry of 18 Parliament of Govt.Whip the Chief of Office 80,010 62,282 17,728 78 77,160 60,709 16,451 79 2,850 1,573 1,277 55 10 Allegations of Investigate to Commission 56 Areas Special Non Cabinet Ministry of 23 Commission Service Audit 53 and Reforms Economic Non Cabinet Ministry of 60,570 38,191 22,379 63 56,070 35,444 20,626 63 4,500 2,747 1,753 61 54 Union Trade Labour & Non Cabinet Ministry of 24 Commission National Procument 104,608 89,239 15,369 85 79,517 73,906 5,611 93 25,091 15,333 9,758 61 55Media Mass Non Cabinet Ministry of 1,436,460 944,432 492,028 66 642,950 598,174 44,776 93 25 Delimitation Commission 15,875 12,850 3,025 81 15,055 12,409 2,646 82 820 440 380 54 22 for Commissioner the Parliamentary of Office 52 & Technology Science, Non Cabinet Ministry of 20 Election Commission 4,860,430 4,108,257 752,173 85 4,725,960 3,984,050 741,910 84 134,470 124,207 10,263 92 101 Wayamba Buddhasasana & Ministry of 103 Defence Ministry of 29,463,738 27,586,922 1,876,816 94 22,285,044 21,670,844 614,199 97 7,178,694 5,916,078 1,262,616 82 102 Finance Ministry of 6,385,145 3,451,572 2,933,573 54 2,999,715 1,929,292 1,070,423 64 3,385,430 1,522,280 1,863,150 45 Head Institution Schedule II – HEAD-WISE SUMMARY OF BUDGETARY PROVISION AND EXPENDITURE – 2019 PROVISION BUDGETARY OF SUMMARY Schedule II – HEAD-WISE
307 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs.’000 271 45 49 Total Recurrent Capital 118,950 116,310 2,640 98 108,400 107,407 993 99 10,550 8,903 1,647 84 8,943,191 8,318,032 625,159 93 7,096,098 6,766,892 329,206 95 1,847,093 1,551,140 295,953 84 1,168,360 635,495 532,865 54 266,210 263,464 2,746 99 902,150 372,032 530,118 41 1,502,415 763,354 739,061 51 775,015 510,330 264,685 66 727,400 253,024 474,376 35 2,148,790 1,309,013 839,777 61 269,200 254,432 14,768 95 1,879,590 1,054,581 825,009 56 4,667,859 3,024,587 1,643,272 65 373,350 367,886 5,464 99 4,294,509 2,656,701 1,637,808 62 19,651,612 17,181,438 2,470,174 87 17,021,812 15,119,715 1,902,097 89 2,629,800 2,061,722 568,078 78 5,456,983 2,540,158 2,916,825 47 1,183,110 511,643 671,467 43 4,273,873 2,028,515 2,245,358 47 11,831,835 7,691,967 4,139,868 65 2,667,783 2,295,161 372,622 86 9,164,052 5,396,806 3,767,246 59 14,961,400 14,002,483 958,917 94 2,198,250 2,096,473 101,777 95 12,763,150 11,906,010 857,140 93 41,830,966 24,122,992 17,707,974 58 10,481,618 9,027,795 1,453,823 86 31,349,348 15,095,197 16,254,151 48 83,649,707 64,946,508 18,703,199 78 46,506,185 44,702,496 1,803,689 96 37,143,522 20,244,012 16,899,510 55 15,498,990 6,723,752 8,775,238 43 2,419,098 1,890,081 529,017 78 13,079,892 4,833,671 8,246,221 37 102,477,357 67,953,935 34,523,422 66 13,749,576 11,163,506 2,586,070 81 88,727,781 56,790,429 31,937,352 64 Provision Provision Expenditure Savings % Provision Expenditure Savings % Provision Expenditure Savings % 201,728,540 187,930,940 13,797,600 93 158,567,140 159,355,690 -788,550 100 43,161,400 28,575,250 14,586,150 66 256,584,000 156,843,596 99,740,404 61 469,000 411,269 57,731 88 256,115,000 156,432,327 99,682,673 61 Resettlement & Rehabilitation, Northern Northern & Rehabilitation, Resettlement & Training Vocational Province Development, Affairs Youth and Skills Development Affairs Medicine Petroleum Resources Development Resources Petroleum Livestock Development, Irrigation and Fisheries Irrigation Development, Livestock Development Resources Aquatic & Development Development Affairs Empowerment Management Infrastructure and Community Development and Community Infrastructure Resettlement of Protracted Dispalced Persons Persons Dispalced Protracted of Resettlement Development and Co-operative & Local Government Councils Provicial Languages, Social Progress and Hindu Religious and Hindu Religious Languages, Social Progress Affairs and Kandy Development Development and Kandy Affairs Christian Religious Financial Statements 111 Health, Nutrition and Indigenous Ministry of 117 and Development & Road Highways Ministry of 114Aviation & Civil Transport Ministry of 28,334,500 20,970,609 7,363,891 74 14,563,700 14,176,255 387,445 97 13,770,800 6,794,355 6,976,4 119 and Business Energy Power, Ministry of 112Affairs Foreign Ministry of 12,984,839 12,478,691 506,148 96 12,130,766 12,062,914 67,852 99 854,073 415,777 438,296 49 118 Affairs, Economic Rural Agriculture, Ministry of 110 & Prison ReformsJustice Ministry of 1,203,715 1,040,213 163,502 86 1,022,109 935,870 86,239 92 181,606 104,343 77,263 57 157 Official National Integration, of Ministry 123 and Cultural Housing, Construction Ministry of 135 Plantation Industries Ministry of 7,906,757 6,471,004 1,435,753 82 3,231,020 3,076,193 154,827 95 4,675,737 3,394,811 1,280,926 73 124 Primary Industries and Social Ministry of 149 Industry and Commerce, Ministry of 159Wildlife and Development, Tourism of Ministry 126 Education Ministry of 101,619,900 73,414,118 28,205,782 72 57,689,900 56,013,861 1,676,039 97 43,930,000 17,400,257 26,529,743 40 122 Reforms Lands and Parliamentary Ministry of 4,992,355 3,700,394 1,291,961 74 1,117,200 944,961 172,239 85 3,875,155 2,755,433 1,119,72 155 and Affairs and Home Internal Ministry of 158 Heritage Kandian Public Enterprise, Ministry of 104 Affairs, Economic National Policies, Ministry of 130 and Disaster Administration Public Ministry of 140Villages, New Hill Country Ministry of 120 and Dry Zone Affairs & Child Women Ministry of 108 and Muslim Religious Services Postal Ministry of Head Institution Schedule II – HEAD-WISE SUMMARY OF BUDGETARY PROVISION AND EXPENDITURE – 2019 PROVISION BUDGETARY OF SUMMARY Schedule II – HEAD-WISE
308 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs.’000 7,030,858 96 9,979,000 5,629,449 4,349,551 56 ,077 212,423 63 134,500 127,001 7,499 94 445,000 240,076 204,924 54 Total Recurrent Capital 183,140 148,698 34,442 81 132,990 123,675 9,315 93 50,150 25,023 25,127 50 377,510 360,064 17,446 95 298,093 295,142 2,951 99 79,417 64,921 14,496 82 289,760 276,274 13,486 95 194,960 183,372 11,588 94 94,800 92,902 1,898 98 3,983,376 2,381,528 1,601,848 60 869,586 837,976 31,610 96 3,113,790 1,543,552 1,570,238 50 5,510,455 2,868,928 2,641,527 52 723,555 630,871 92,684 87 4,786,900 2,238,057 2,548,843 47 3,603,235 2,126,417 1,476,818 59 1,271,990 1,135,975 136,015 89 2,331,245 990,443 1,340,803 42 41,676,388 25,714,522 15,961,866 62 4,297,435 3,544,130 753,305 82 37,378,953 22,170,393 15,208,560 59 73,540,815 63,527,016 10,013,799 86 2,193,000 1,966,637 226,363 90 71,347,815 61,560,379 9,787,436 86 58,743,030 45,313,196 13,429,834 77 733,890 330,065 403,825 45 58,009,140 44,983,130 13,026,010 78 Provision Provision Expenditure Savings % Provision Expenditure Savings % Provision Expenditure Savings % Environment Development Higher Education Development International Trade International Employment and Sports Employment Affairs Affairs Services Financial Statements 211 PrinterThe Government Department of 3,011,780 2,953,026 58,754 98 2,824,680 2,789,978 34,702 99 187,100 163,048 24,052 87 176 & Shipping and Southern Ports of Ministry 217 and Child Care Probation Department of 194 Foreign Telecommunications, Ministry of 166 Supply and Water City Planning and Ministry of 195 and Strategies Development Ministry of 162 Western Megapolis and Ministry of 213 Publications Educational Department of 100,000 78,112 21,888 78 60,000 57,910 2,090 97 40,000 20,203 19,797 51 214 Commission Grants University 62,406,000 56,364,367 6,041,633 90 46,076,000 45,544,317 531,683 99 16,330,000 10,820,050 5,509,950 66 216 Social Services Department of 753,000 644,823 108,177 86 580,740 543,414 37,326 94 172,260 101,409 70,851 59 215Training & Education Technical Department of 2,270,000 2,058,451 211,549 91 1,907,000 1,853,792 53,208 97 363,000 204,659 158,341 56 219 Sports Development Department of 3,053,025 1,871,020 1,182,005 61 1,257,025 1,096,256 160,769 87 1,796,000 774,764 1,021,236 43 212 Examinations Department of 5,395,000 4,573,996 821,004 85 4,665,000 4,392,202 272,798 94 730,000 181,793 548,207 25 221 Labour Department of 3,729,010 3,109,634 619,376 83 2,207,000 1,801,750 405,250 82 1,522,010 1,307,883 214,127 86 160 and Development Mahaweli Ministry of 201Affairs Buddhist Department of 1,464,406 1,355,292 109,114 93 1,378,154 1,312,039 66,115 95 86,252 43,253 42,999 50 210 Information Department of 338,300 316,463 21,837 94 256,751 253,634 3,117 99 81,549 62,829 18,720 77 223 Navy Sri Lanka 60,940,380 56,376,470 4,563,910 93 52,934,090 50,612,138 2,321,952 96 8,006,290 5,764,333 2,241,957 72 224Air Force Sri Lanka 46,702,100 39,559,946 7,142,154 85 37,951,200 35,598,677 2,352,523 94 8,750,900 3,961,270 4,789,630 45 226 and Emigration Immigration Department of 2,448,300 2,333,841 114,459 95 1,743,600 1,691,605 51,995 97 704,700 642,236 62,464 91 207Archaeology Department of 1,080,200 1,046,155 34,045 97 967,715 961,065 6,650 99 112,485 85,089 27,396 76 225 Police Department of 75,982,150 73,653,101 2,329,049 97 72,128,000 71,255,797 872,203 99 3,854,150 2,397,304 1,456,846 62 222Army Sri Lanka 166,648,800 155,268,391 11,380,409 93 156,669,800 149,638,942 203Affairs Christian Religious Department of 435,345 236,444 198,901 54 183,960 157,446 26,514 86 251,385 78,998 172,387 31 204 and Cultural Hindu Religious Department of 206Affairs Cultural Department of 1,575,000 694,812 880,188 44 698,000 643,568 54,432 92 877,000 51,244 825,756 6 205Trustee Public Department of 72,550 66,102 6,448 91 65,050 60,933 4,117 94 7,500 5,169 2,331 69 209Archives National Department of 579,500 367 202 and Cultural Muslim Religious Department of 220Ayurveda Department of 2,233,000 1,708,091 524,909 76 1,733,517 1,569,305 164,212 91 499,483 138,786 360,697 28 208 National Museums Department of 358,600 285,826 72,774 80 222,600 210,752 11,848 95 136,000 75,074 60,926 55 Head Institution Schedule II – HEAD-WISE SUMMARY OF BUDGETARY PROVISION AND EXPENDITURE – 2019 PROVISION BUDGETARY OF SUMMARY Schedule II – HEAD-WISE
309 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs.’000 080 1,116,997,489 183,042,811 86 1,300,040,300 Total Recurrent Capital 1,671,255 99,645 94 1,670,900 1,617,561 53,339 97 100,000 53,695 46,305 54 2,013,109,592 219,815,083 90 932,884,375 896,112,104 36,772,271 96 Provision Provision Expenditure Savings % Provision Expenditure Savings % Provision Expenditure Savings % 2,232,924,675 Financial Statements 231 Board Debt Conciliation Department of 29,930 24,842 5,088 83 28,780 23,975 4,805 83 1,150 867 283 75 241 Public Enterprises Department of 27,425,653 26,767,171 658,482 98 1,746,200 1,603,214 142,986 92 25,679,453 25,163,957 515,496 98 261 – Galle District Secretariat 1,750,600 1,543,677 206,923 88 1,195,250 1,191,621 3,629 100 555,350 352,057 203,293 63 251Valuation Department of 652,440 640,899 11,541 98 420,538 415,145 5,393 99 231,902 225,755 6,147 97 237 National Planning Department of 437,640 149,616 288,024 34 100,049 98,733 1,316 99 337,591 50,883 286,708 15 247 Customs Sri Lanka 3,140,950 2,683,407 457,543 85 2,782,500 2,591,824 190,676 93 358,450 91,583 266,867 26 257 – Kalutara District Secretariat 1,207,198 1,180,110 27,088 98 960,498 954,294 6,204 99 246,700 225,816 20,884 92 227 Persons of Registration Department of 1,272,600 1,254,034 18,566 99 1,067,600 1,055,336 12,264 99 205,000 198,698 6,302 97 233Analyst Government Department of 505,100 413,826 91,274 82 396,100 330,604 65,496 83 109,000 83,222 25,778 76 232 Prisons Department of 6,802,080 6,210,642 591,438 91 5,933,600 5,759,001 174,599 97 868,480 451,642 416,838 52 234 Court Supreme of Registrar 199,660 190,949 8,711 96 186,390 180,370 6,020 97 13,270 10,579 2,691 80 236 Languages Official Department of 164,926 154,031 10,895 93 149,926 141,328 8,598 94 15,000 12,703 2,297 85 253 Pensions Department of 274,701,776 273,010,696 1,691,080 99 274,632,575 272,952,068 1,680,507 99 69,201 58,628 10,573 85 239 Resources External Department of 243 Finance Development Department of 2,804,742 2,750,049 28,614,900 54,693 14,162,658 98 14,452,242 49 507,320 16,136,598 498,800 4,137,926 11,998,672 8,520 26 98 12,478,302 2,297,422 10,024,732 2,251,249 2,453,57 46,173 98 235 Commission Law Department of 20,090 17,378 2,712 87 17,640 15,893 1,747 90 2,450 1,485 965 61 263 – Hambanthota District Secretariat 958,000 875,593 82,407 91 814,650 793,716 20,934 97 143,350 81,878 61,472 57 259 – Matale District Secretariat 1,106,850 955,728 151,122 86 666,150 653,516 12,634 98 440,700 302,212 138,488 69 254 General Registrar Department of 1,770,900 256 – Gampaha District Secretariat 2,351,700 1,952,914 398,786 83 1,105,000 1,095,815 9,185 99 1,246,700 857,098 389,602 69 229 GeneralAttorney Department of 2,117,004 2,096,573 20,431 99 1,627,404 1,619,180 8,224 99 489,600 477,394 12,206 98 264Jaffna – District Secretariat 853,250 835,721 17,529 98 776,500 770,759 5,741 99 76,750 64,962 11,788 85 255 – Colombo District Secretariat 2,342,375 1,544,695 797,680 66 846,675 827,380 19,295 98 1,495,700 717,315 778,385 48 246 Inland Revenue Department of 6,906,650 4,535,136 2,371,514 66 3,956,255 3,812,734 143,521 96 2,950,395 722,402 2,227,993 24 249 Operations Treasury Department of 242 Management Services Department of 96,130 79,965 16,165 83 88,830 77,557 11,273 87 7,300 2,408 4,892 33 245 Public Finance Department of 115,827 82,965 32,862 72 75,290 70,912 4,378 94 40,537 12,053 28,484 30 252 & Statistics Census Department of 1,064,078 1,028,443 35,635 97 913,030 901,996 11,034 99 151,048 126,447 24,601 84 238 Fiscal Policy Department of 1,757,420 64,994 1,692,426 4 1,754,770 63,598 1,691,172 4 2,650 1,396 1,254 53 262 – Matara District Secretariat 1,182,480 1,128,097 54,383 95 1,009,380 1,004,189 5,191 99 173,100 123,908 49,192 72 244 Policy and Investment Trade Department of 61,485 55,754 5,731 91 60,685 55,318 5,367 91 800 437 363 55 228 Administration Courts 9,835,460 9,631,963 203,497 98 7,316,150 7,269,556 46,594 99 2,519,310 2,362,407 156,903 94 258 – Kandy District Secretariat 1,408,050 1,360,735 47,315 97 1,247,000 1,240,363 6,637 99 161,050 120,372 40,678 75 248 Excise Department of 1,493,500 1,046,817 446,683 70 1,168,500 936,802 231,698 80 325,000 110,015 214,985 34 230 Legal Draftsman Department of 172,170 148,679 23,491 86 134,670 116,930 17,740 87 37,500 31,749 5,751 85 250Accounts State Department of 91,550 62,403 29,147 68 58,050 56,155 1,895 97 33,500 6,248 27,252 19 240 National Budget Department of 22,405,918 6,067,408 16,338,510 27 1,607,758 738,688 869,070 46 20,798,159 5,328,720 15,469,439 26 260 Eliya – Nuwara District Secretariat 518,050 503,952 14,098 97 487,000 481,824 5,176 99 31,050 22,128 8,922 71 Head Institution Schedule II – HEAD-WISE SUMMARY OF BUDGETARY PROVISION AND EXPENDITURE – 2019 PROVISION BUDGETARY OF SUMMARY Schedule II – HEAD-WISE
310 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs.’000 Total Recurrent Capital 142,149 129,816 12,333 91 132,149 129,816 2,333 98 10,000 0 10,000 0 104,127 99,127 5,000 95 96,917 94,222 2,695 97 7,210 4,905 2,305 68 1,009,382 629,069 380,313 62 248,482 244,470 4,012 98 760,900 384,598 376,302 51 Provision Provision Expenditure Savings % Provision Expenditure Savings % Provision Expenditure Savings % Department of Animal Production & HealthAnimal Production Department of 1,474,766 1,374,166 100,600 93 586,766 580,708 6,058 99 888,000 793,458 94,542 89 and Services Monitoring Resource Management Resource Financial Statements 271Trincomalee – District Secretariat 480,300 455,512 24,788 95 440,950 434,650 6,300 99 39,350 20,862 18,488 53 291 and Coastal Conservation Coast Department of 281 DevelopmentAgrarian Department of 11,288,411 8,978,984 2,309,427 80 7,270,360 7,248,521 21,839 100 4,018,051 1,730,464 2,287,588 43 274Anuradhapura – District Secretariat 1,097,850 1,057,583 40,267 96 941,100 932,286 8,814 99 156,750 125,297 31,453 80 276 – Badulla District Secretariat 937,700 854,600 83,100 91 745,000 740,433 4,567 99 192,700 114,167 78,533 59 277 – Monaragala District Secretariat 647,705 613,502 34,203 95 528,355 522,948 5,407 99 119,350 90,554 28,796 76 267 – Mullaitivu District Secretariat 469,380 256,516 212,864 55 223,030 221,362 1,668 99 246,350 35,153 211,197 14 297 Companies of The Registrar Department of 68,000 66,199 1,801 97 68,000 66,199 1,801 97 0 - 273 – Puttalam District Secretariat 870,650 830,135 40,515 95 753,500 742,271 11,229 99 117,150 87,864 29,286 75 272 – Kurunegala District Secretariat 2,009,020 1,937,843 71,177 96 1,840,270 1,822,489 17,781 99 168,750 115,353 53,397 68 278 – Rathnapura District Secretariat 1,053,005 975,948 77,057 93 889,305 868,355 20,950 98 163,700 107,593 56,107 66 275 – Polonnaruwa District Secretariat 934,895 902,417 32,478 97 442,845 439,728 3,117 99 492,050 462,689 29,361 94 279 – Kegalle District Secretariat 811,050 744,002 67,048 92 697,000 679,088 17,912 97 114,050 64,914 49,136 57 293 Development Rubber Department of 1,216,668 959,469 257,199 79 370,668 365,442 5,226 99 846,000 594,028 251,972 70 270Ampara – District Secretariat 1,059,050 956,631 102,419 90 925,000 902,736 22,264 98 134,050 53,895 80,155 40 287Title Settlement Land Department of 438,560 428,953 9,607 98 433,060 424,558 8,502 98 5,500 4,396 1,104 80 294 National Zoological Gardens Department of 1,149,950 915,706 234,244 80 468,450 457,815 10,635 98 681,500 457,891 223,609 67 266Vavuniya – Kachcheri District Secretariat/ 284,650 264,370 20,280 93 229,300 226,241 3,059 99 55,350 38,129 17,221 69 265 – Mannar District Secretariat 298,800 246,138 52,662 82 222,450 214,316 8,134 96 76,350 31,822 44,528 42 296 Import & Export Control Department of 69,371 66,757 2,614 96 67,371 65,084 2,287 97 2,000 1,673 327 84 269 – Batticaloa District Secretariat 966,400 813,336 153,064 84 656,000 654,416 1,584 100 310,400 158,920 151,480 51 295 Commerce Department of 156,000 145,882 10,118 94 140,750 133,528 7,222 95 15,250 12,353 2,897 81 299 Sri Lanka of Office Property National Intellectual 36,293 36,252 41 100 36,293 36,252 41 100 0 - 268 – Killinnochchi District Secretariat 430,650 261,420 169,230 61 227,300 221,908 5,392 98 203,350 39,512 163,838 19 298 Units, Standards Measurement Department of 283 Forests Department of 2,350,000 2,238,233 111,767 95 1,459,500 1,432,475 27,025 98 890,500 805,757 84,743 90 292 284Wildlife Conservation Department of 1,940,174 1,702,387 237,787 88 1,237,380 1,234,139 3,241 100 702,794 468,248 234,546 67 286 General Land Commissioner Department of 494,000 459,525 34,475 93 413,600 407,308 6,292 98 80,400 52,217 28,183 65 289Agriculture Export Department of 1,343,000 1,066,144 276,856 79 677,000 658,290 18,710 97 666,000 407,854 258,146 61 282 Irrigation Department of 16,447,590 12,192,692 4,254,898 74 3,078,940 2,995,847 83,093 97 13,368,650 9,196,845 4,171,805 69 285Agriculture Department of 7,044,379 6,288,962 755,417 89 4,771,076 4,665,238 105,838 98 2,273,303 1,623,725 649,578 71 288 General Surveyor Department of 4,139,550 3,856,002 283,548 93 3,806,350 3,691,670 114,680 97 333,200 164,331 168,869 49 290 ResourcesAquatic Fisheries and Department of 1,136,424 750,534 385,890 66 569,794 562,670 7,124 99 566,630 187,863 378,767 33 280 Management and Project Department of 300 Commissioner Food Department of 999,962 372,370 627,592 37 298,000 93,217 204,783 31 701,962 279,153 422,809 40 Head Institution Schedule II – HEAD-WISE SUMMARY OF BUDGETARY PROVISION AND EXPENDITURE – 2019 PROVISION BUDGETARY OF SUMMARY Schedule II – HEAD-WISE
311 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd... Rs.’000 557,249,801 2,311,454,572 1,754,204,771 95,116,015 2,321,622,720 2,416,738,734 652,365,815 Total Recurrent Capital 404,228 339,867 64,361 84 401,028 337,446 63,582 84 3,200 2,421 779 76 1,862,310 589,104 1,273,206 32 156,310 153,340 2,970 98 1,706,000 435,764 1,270,236 26 Provision Provision Expenditure Savings % Provision Expenditure Savings % Provision Expenditure Savings % 4,728,193,306 4,075,827,491 Supply Grand Total Grand Management Financial Statements 311 Planning National Physical Department of 256,000 192,173 63,827 75 200,000 180,670 19,330 90 56,000 11,502 44,498 21 317 Council Provincial North Central 20,519,200 18,570,066 1,949,134 91 16,708,000 16,708,000 0 100 3,811,200 1,862,066 1,949,134 49 331 Development Samurdhi Department of 64,984,045 58,674,450 6,309,595 90 64,197,045 58,152,810 6,044,235 91 787,000 521,641 265,359 66 313 Council Provincial Central 32,805,000 31,252,500 1,552,500 95 29,730,000 29,730,000 0 100 3,075,000 1,522,500 1,552,500 50 314 Council Southern Provincial 28,362,500 26,809,500 1,553,000 95 25,196,500 25,196,500 0 100 3,166,000 1,613,000 1,553,000 51 316 Council Provincial Western North 28,418,500 26,790,500 1,628,000 94 25,212,500 25,212,500 0 100 3,206,000 1,578,000 1,628,000 49 315 Council Northern Provincial 25,899,320 23,736,364 2,162,956 92 21,437,500 21,437,500 0 100 4,461,820 2,298,864 2,162,956 52 319 Council Provincial Sabaragamuva 321 Council Provincial Eastern 26,727,000 24,930,100 1,796,900 93 25,529,000 23,212,000 23,595,500 23,212,000 1,933,500 92 21,612,000 0 21,612,000 100 3,515,000 1,718,100 0 100 1,796,900 49 3,917,000 1,983,500 1,933,500 51 312 Council Provincial Western 19,965,750 18,812,900 1,152,850 94 17,848,750 17,848,750 0 100 2,117,000 964,150 1,152,850 46 318 Council Provincial Uva 23,438,000 21,249,500 2,188,500 91 19,011,000 19,011,000 0 100 4,427,000 2,238,500 2,188,500 51 301 Development Co-Operative Department of 110,300 98,969 11,331 90 76,300 75,658 642 99 34,000 23,311 10,689 69 310 Factory Government 312,000 276,825 35,175 89 117,000 115,666 1,334 99 195,000 161,159 33,841 83 327 Planning Land Use Policy Department of 434,021 417,311 16,710 96 395,295 385,125 10,170 97 38,726 32,186 6,540 83 333 Office General's Comptroller 48,120 27,328 20,792 57 29,470 25,563 3,907 87 18,650 1,766 16,884 9 332 Water National Community Department of 307Traffic Motor Department of 4,135,663 3,293,966 841,697 80 2,067,731 1,692,494 375,237 82 2,067,932 1,601,472 466,460 77 323Affairs Legal Department of 13,720 12,551 1,169 91 12,820 12,270 550 96 900 282 618 31 324Audit Management Department of 57,440 52,408 5,032 91 54,140 50,722 3,418 94 3,300 1,687 1,613 51 326 Based Corrections Community Department of 316,592 294,539 22,053 93 298,092 281,128 16,964 94 18,500 13,411 5,089 72 329 Technology Information Department of 322 National Botanical Gardens Department of 922,660 886,823 35,837 96 490,960 490,277 683 100 431,700 396,545 35,155 92 325 Guard Coast Sri Lanka Department of 447,170 342,497 104,673 77 75,000 71,117 3,883 95 372,170 271,380 100,790 73 303 IndustriesTextile Department of 138,000 123,797 14,203 90 76,100 74,428 1,672 98 61,900 49,369 12,531 80 328 and Employment Manpower Department of 422,000 399,832 22,168 95 387,000 374,398 12,602 97 35,000 25,434 9,566 73 304 Meteorology Department of 522,320 331,770 190,550 64 304,070 299,946 4,124 99 218,250 31,825 186,425 15 306 Railways Sri Lanka Department of 40,540,988 35,865,787 4,675,201 88 15,624,950 15,463,535 161,415 99 24,916,038 20,402,252 4,513,786 82 309 Buildings Department of 489,710 461,964 27,746 94 398,710 395,112 3,598 99 91,000 66,852 24,148 73 302 Commission Employees Co-operative 19,848 18,184 1,664 92 17,848 17,073 775 96 2,000 1,111 889 56 320 Civil Security Department of 18,611,050 16,812,584 1,798,466 90 18,360,550 16,641,952 1,718,598 91 250,500 170,632 79,868 68 308 Posts Department of 14,200,342 14,022,643 177,699 99 13,794,122 13,720,794 73,328 99 406,220 301,850 104,370 74 Head Institution Schedule II – HEAD-WISE SUMMARY OF BUDGETARY PROVISION AND EXPENDITURE – 2019 PROVISION BUDGETARY OF SUMMARY Schedule II – HEAD-WISE
312 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Schedule III – STATEMENT OF LIABILITIES AND COMMITMENTS – 2019 Recurrent Capital Total Ministry/Department Commitment Liability Commitment Liability Commitment Liability Head Balance Balance Balance Balance Balance Balance 1 His Excellency the President 174,000 46,867,148 16,363,268 1,040,660,908 16,537,268 1,087,528,055 2 Office of the Prime Minister – 60,432,828 – 25,000 – 60,457,828 4 Judges of the Superior Courts – – – 410,000 – 410,000 5 Office of the Cabinet Ministers – 868,753 – – – 868,753 6 Public Service Commission – 761,046 – 2,730,252 – 3,491,298 7 Judicial Service Commission – 295,643 – – – 295,643 8 National Police Commission 1,750 9,063,515 – 1,226,000 1,750 10,289,515 Commission to Investigate Allegations 10 – 2,204,543 – 5,241,586 – 7,446,128 of Bribery or Corruption 11 Office of the Finance Commission – 1,062,448 – 21,781,018 – 22,843,466 12 National Education Commission – 223,410 – 126,500 – 349,910 13 Human Rights Commission of Sri Lanka – 4,855,397 – 1,032,447 – 5,887,844 16 Parliament – 33,848,472 – 227,893,945 – 261,742,416 Office of the Leader of the Opposition 19 – 250,958 – – – 250,958 of Parliament 20 Election Commission – 633,408,863 – 465,114 – 633,873,976 21 National Audit Office – 4,121 – 53,822,700 – 53,826,821 23 Audit Service Commission – 23 – – – 23 24 National Procument Commission – 2,700 – – – 2,700 25 Delimitation Commission – 6,389 – – – 6,389 Non Cabinet Ministry of Digital 51 Infrastructure and Information – 2,023,126 – 362,836,575 – 364,859,701 Technology Non Cabinet Ministry of Science, 52 9,082 5,151,723 46,575 262,234,974 55,657 267,386,697 Technology & Research Non Cabinet Ministry of Economic 53 – 947,643 – 19,177,459 – 20,125,101 Reforms and Public Distribution Non Cabinet Ministry of Labour & Trade 54 – 3,174,404 – 5,019,643 – 8,194,047 Union Relations 55 Non Cabinet Ministry of Mass Media – 8,783,337 – 6,084,200 – 14,867,537 Non Cabinet Ministry of Special Areas 56 – 211,371 – 4,142,401 – 4,353,773 Development Ministry of Buddhasasana & Wayamba 101 8,000 514,804 11,898,441 271,105,402 11,906,441 271,620,205 Development 102 Ministry of Finance 3,700,000 24,423,375 – 21,613,878 3,700,000 46,037,253 103 Ministry of Defence 219,300,000 487,029,603 – 71,318,467 219,300,000 558,348,070 Ministry of National Policies, Economic Affairs, Resettlement & Rehabilitation, 104 Northern Province Development, 329,421 88,816,795 906,209,564 13,477,334,457 906,538,985 13,566,151,252 Vocational Training & Skills Development and Youth Affairs Ministry of Postal Services and Muslim 108 – – – – – – Religious Affairs 110 Ministry of Justice & Prison Reforms 334,950 10,524,161 – 1,132,837 334,950 11,656,998 Ministry of Health, Nutrition and 111 126,307,867 1,316,124,219 371,911,174 3,265,783,212 498,219,041 4,581,907,431 Indigenous Medicine 112 Ministry of Foreign Affairs – – – 1,951,255 – 1,951,255 114 Ministry of Transport & Civil Aviation – 1,897,945 20,933,381 8,010,281,881 20,933,381 8,012,179,826 Ministry of Highways & Road 117 Development and Petroleum Resources – 2,772,599 – 12,264,916,298 – 12,267,688,898 Development Ministry of Agriculture, Rural Economic Affairs, Livestock Development, 118 38,789,309 100,539,434 153,312,786 1,650,992,650 192,102,094 1,751,532,084 Irrigation and Fisheries & Aquatic Resources Development
Ministry of Power, Energy and Business Financial
119 – – – – – –Statements Development
313 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Schedule III – STATEMENT OF LIABILITIES AND COMMITMENTS – 2019 Recurrent Capital Total Ministry/Department Commitment Liability Commitment Liability Commitment Liability Head Balance Balance Balance Balance Balance Balance Ministry of Women & Child Affairs and 120 42,239,246 342,714,449 27,712,906 19,549,099 69,952,152 362,263,547 Dry Zone Development Ministry of Lands and Parliamentary 122 1,509,563 39,833,792 6,013,385 1,054,319,222 7,522,948 1,094,153,013 Reforms Ministry of Housing, Construction and 123 – 49,244,275 26,676 2,810,284,039 26,676 2,859,528,314 Cultural Affairs Ministry of Primary Industries and 124 607,074 39,131,132 313,112 181,131,351 920,186 220,262,483 Social Empowerment 126 Ministry of Education 695,909,232 1,544,895,216 4,897,988,073 3,313,024,181 5,593,897,304 4,857,919,398 Ministry of Public Administration and 130 658,892 306,543,775 15,181,242 985,119,424 15,840,134 1,291,663,200 Disaster Management 135 Ministry of Plantation Industries 630,998 2,681,594 5,910 226,316,493 636,908 228,998,087 Ministry of Hill Country New Villages, 140 Infrastructure and Community – 197,500 7,000 906,924,552 7,000 907,122,052 Development Ministry of Industry and Commerce, Resettlement of Protracted 149 30,282 1,947,428 36,979,312 1,948,880,553 37,009,594 1,950,827,981 Dispalced Persons and Co-operative Development Ministry of Internal and Home Affairs 155 and Provicial Councils & Local 392,882,366 92,448,802 5,824,599,150 5,024,002,214 6,217,481,516 5,116,451,016 Government Ministry of National Integration, Official 157 Languages, Social Progress and Hindu 169,563 10,507,081 82,187,529 800,071,998 82,357,092 810,579,079 Religious Affairs Ministry of Public Enterprise, Kandian 158 – 1,005,121 – 237,472,608 – 238,477,729 Heritage and Kandy Development Ministry of Tourism Development, 159 2,780,391 21,987,833 – 890,924,522 2,780,391 912,912,355 Wildlife and Christian Religious Affairs Ministry of Mahaweli Development and 160 – 2,861,063 22,781,527 3,674,569,089 22,781,527 3,677,430,152 Environment Ministry of Megapolis and Western 162 – 1,140,935 5,157,848 7,768,837,340 5,157,848 7,769,978,275 Development Ministry of City Planning and Water 166 34,017 35,560,956 1,254,596 1,264,507,285 1,288,613 1,300,068,240 Supply and Higher Education Ministry of Ports & Shipping and 176 – 50,307,987 492,245 249,398,223 492,245 299,706,210 Southern Development Ministry of Telecommunications, 194 146,104 40,157,531 1,683,359 802,103,081 1,829,464 842,260,611 Foreign Employment and Sports Ministry of Development Strategies and 195 – 7,015,738 – 1,265,348,696 – 1,272,364,435 International Trade 201 Department of Buddhist Affairs 10,273,001 16,163,783 – 7,371,898 10,273,001 23,535,681 Department of Muslim Religious and 202 4,500 1,562,865 35 15,563,252 4,535 17,126,116 Cultural Affairs 203 Department of Christian Religious Affairs – 11,162,794 – 17,512,376 – 28,675,170 Department of Hindu Religious and 204 – – – – – – Cultural Affairs 205 Department of Public Trustee – 295,844 – – – 295,844 206 Department of Cultural Affairs 6,593,331 27,589,905 785,909,817 35,444,701 792,503,148 63,034,606 207 Department of Archaeology – – – 256,998 – 256,998 208 Department of National Museums – 1,656,625 – 27,950,904 – 29,607,529 209 Department of National Archives – 3,770,477 – 79,413,791 – 83,184,269 210 Department of Information 118,090 1,491,933 – 1,916,057 118,090 3,407,990 211 Department of The Government Printer 29,982,692 24,650,013 41,240 5,065,416 30,023,931 29,715,429 212 Department of Examinations 200,000,000 965,855,608 1,475,000 – 201,475,000 965,855,608 213 Department of Educational Publications – – – – – – Financial
Statements 215 Department of Technical Education & Training – 14,873,758 – 53,037,481 – 67,911,239 216 Department of Social Services 137,333 2,196,250 22,260 16,658,866 159,593 18,855,116
314 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Schedule III – STATEMENT OF LIABILITIES AND COMMITMENTS – 2019 Recurrent Capital Total Ministry/Department Commitment Liability Commitment Liability Commitment Liability Head Balance Balance Balance Balance Balance Balance Department of Probation and Child 217 232,837 4,193,147 384,500 4,902,156 617,337 9,095,303 Care Services 219 Department of Sports Development – 119,953,784 – 374,784,446 – 494,738,231 220 Department of Ayurveda – 72,667,901 – 8,707,225 – 81,375,126 221 Department of Labour – – – 1,743,840 – 1,743,840 222 Sri Lanka Army 894,005,000 18,116,381,275 – 1,211,990,503 894,005,000 19,328,371,778 223 Sri Lanka Navy 1,102,554,912 596,959,481 403,591,983 893,762,054 1,506,146,895 1,490,721,536 224 Sri Lanka Air Force – 1,455,910,815 – 26,670,499 – 1,482,581,315 225 Department of Police 0 740,329,500 136,440,916 375,641,966 136,440,916 1,115,971,466 226 Department of Immigration and Emigration – – – – – – 227 Department of Registration of Persons 242,968 3,312,344 – – 242,968 3,312,344 228 Courts Administration 2,668,923 8,236,536 10,801 0 2,679,724 8,236,537 229 Department of Attorney General – 2,117,582 – – – 2,117,582 230 Department of Legal Draftsman – 1,261,808 – – – 1,261,808 232 Department of Prisons 74,149,184 371,635,623 5,398,346 63,599,291 79,547,529 435,234,914 233 Department of Government Analyst 10,208,092 14,978,761 52,858 19,811 10,260,950 14,998,572 234 Registrar of Supreme Court – 59,290 – – – 59,290 235 Department of Law Commission – 160,881 – – – 160,881 238 Department of Fiscal Policy – 170,361 – – – 170,361 239 Department of External Resources – – – – – – 240 Department of National Budget – 740,166 – 1,444,713 – 2,184,879 241 Department of Public Enterprises – 124,786,913 – 203,240 – 124,990,153 242 Department of Management Services – 339,539 – 106,000 – 445,539 243 Department of Development Finance – 3,410,693,151 – 3,079,876 – 3,413,773,027 244 Department of Trade and Investment Policy – 1,678,000 – – – 1,678,000 245 Department of Public Finance – 281,156 – 111,355 – 392,512 246 Department of Inland Revenue 15,891,180 33,874,567 2,804,471,237 692,347,478 2,820,362,417 726,222,045 247 Sri Lanka Customs – 16,736,225 – – – 16,736,225 248 Department of Excise – 16,365,150 – 4,305,573 – 20,670,723 249 Department of Treasury Operations – – – – – – 250 Department of State Accounts – 136,069 – – – 136,069 251 Department of Valuation – 2,857,818 – – – 2,857,818 252 Department of Census & Statistics 3,800 3,894,173 – 14,666,716 3,800 18,560,889 253 Department of Pensions 9,248,371,333 979,914,702 – – 9,248,371,333 979,914,702 254 Department of Registrar General 51,825 1,169,137 – 2,882,885 51,825 4,052,022 255 District Secretariat – Colombo 18,960 1,826,832 – 120,794,590 18,960 122,621,422 256 District Secretariat – Gampaha 18,145 1,871,871 – 130,934,019 18,145 132,805,890 257 District Secretariat – Kalutara 2,884,611 271,990 471,442 2,000,000 3,356,053 2,271,990 258 District Secretariat – Kandy 18,721,056 20,974,053 – 47,348,850 18,721,056 68,322,903 259 District Secretariat – Matale – 1,639,645 – 85,819,178 – 87,458,823 260 District Secretariat – Nuwara Eliya – – – 9,000,000 – 9,000,000 261 District Secretariat – Galle 16,377 258,735 – 45,808,289 16,377 46,067,024 262 District Secretariat – Matara 30,801 81,792 – 1,144 30,801 82,936 263 District Secretariat – Hambanthota – 42,147 – 5,301,723 – 5,343,870 264 District Secretariat – Jaffna – – – – – – 265 District Secretariat – Mannar – 1,259,117 250,000 20,414,122 250,000 21,673,239 266 District Secretariat/ Kachcheri – Vavuniya 262,566 1,452,448 1,859,676 11,326 2,122,242 1,463,774 267 District Secretariat – Mullaitivu – – – 14,582,189 – 14,582,189 268 District Secretariat – Killinnochchi – 1,218,570 – 20,633,445 – 21,852,015 269 District Secretariat – Batticaloa 31,289 248,931 56,739,073 185,700 56,770,362 434,631 270 District Secretariat – Ampara 347,400 186,491 – 1,251,420 347,400 1,437,911 271 District Secretariat – Trincomalee – 1,449,715 – 14,091,822 – 15,541,536 272 District Secretariat – Kurunegala 3,184 7,809,247 – 0 3,184 7,809,247
273 District Secretariat – Puttalam – 1,201,615 10,000 14,724 10,000 1,216,340 Financial Statements 274 District Secretariat – Anuradhapura 10 32,382 102,527 4,051,842 102,537 4,084,224
315 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Schedule III – STATEMENT OF LIABILITIES AND COMMITMENTS – 2019 Recurrent Capital Total Ministry/Department Commitment Liability Commitment Liability Commitment Liability Head Balance Balance Balance Balance Balance Balance 275 District Secretariat – Polonnaruwa 217,250 819,151 – 124,500 217,250 943,651 276 District Secretariat – Badulla 212,686 3,415,801 – 13,171,804 212,686 16,587,605 277 District Secretariat – Monaragala – 17,830 – – – 17,830 278 District Secretariat – Rathnapura 2,596,470 281,276 – 4,391,021 2,596,470 4,672,298 279 District Secretariat – Kegalle 2,686,449 353,559 – 413,560 2,686,449 767,119 281 Department of Agrarian Development 1,329,071 14,675,252 336,596,605 988,849,467 337,925,676 1,003,524,719 282 Department of Irrigation – 3,877,810 8,618,089 3,543,270,983 8,618,089 3,547,148,793 283 Department of Forests 4,199,274 110,593 31,952 1,240,752 4,231,226 1,351,345 284 Department of Wildlife Conservation – – – – – – 285 Department of Agriculture 14,174,570 5,808,590 263,591 389,913,035 14,438,161 395,721,624 286 Department of Land Commissioner General 3,620 6,765,414 3,728,693 1,864,499 3,732,313 8,629,913 287 Department of Land Title Settlement – 286,852 – 10,100 – 296,952 288 Department of Surveyor General 16,333,776 14,990,664 2,602,332 82,896,537 18,936,108 97,887,201 289 Department of Export Agriculture – 4,532,532 – 157,560,853 – 162,093,386 290 Department of Fisheries and Aquatic Resources – 165,477 4,222,047 48,969,467 4,222,047 49,134,944 Department of Coast Conservation and 291 – 1,852,045 – 58,110,032 – 59,962,077 Coastal Resource Management 293 Department of Rubber Development – 948,909 – 31,845,959 – 32,794,869 294 Department of National Zoological Gardens – 1,424,099 – 49,467,180 – 50,891,279 295 Department of Commerce – 298,143 – – – 298,143 296 Department of Import & Export Control – 266,187 – – – 266,187 300 Department of Food Commissioner – – – – – – 301 Department of Co-Operative Development – 0 – 3,287,057 – 3,287,057 302 Co-operative Employees Commission – 11,035 – – – 11,035 303 Department of Textile Industries – 3,371,232 – 3,619,001 – 6,990,233 304 Department of Meteorology – 1,305,161 – 16,128,837 – 17,433,998 306 Department of Sri Lanka Railways – 36,552,367 – 101,761,106 – 138,313,473 307 Department of Motor Traffic – 168,904 211,294 11,793,999 211,294 11,962,904 308 Department of Posts 72,972 1,033,873 – 433,957 72,972 1,467,830 309 Department of Buildings – 2,797,768 – 143,286 – 2,941,054 310 Government Factory – – – 6,077,365 – 6,077,365 311 Department of National Physical Planning – 52,240 – 5,568,021 – 5,620,262 312 Western Provincial Council – 3,206,000,000 – – – 3,206,000,000 313 Central Provincial Council – 5,078,000,000 – – – 5,078,000,000 314 Southern Provincial Council – 5,093,820,000 – 1,149,200,000 – 6,243,020,000 315 Northern Provincial Council – 5,895,000,000 7,364,413,888 3,572,638,996 7,364,413,888 9,467,638,996 316 North Western Provincial Council – 4,034,000,000 5,595,200,000 – 5,595,200,000 4,034,000,000 317 North Central Provincial Council – 3,500,000,000 8,500,000 13,796,484 8,500,000 3,513,796,484 318 Uva Provincial Council – 3,482,345,000 3,670,800,000 – 3,670,800,000 3,482,345,000 319 Sabaragamuva Provincial Council – 4,510,000,000 3,244,800,000 – 3,244,800,000 4,510,000,000 320 Department of Civil Security – 193,340,291 – 30,906,420 – 224,246,711 321 Eastern Provincial Council – 3,985,000,000 3,845,200,000 1,100,000,000 3,845,200,000 5,085,000,000 322 Department of National Botanical Gardens – 89,628 390,000 – 390,000 89,628 323 Department of Legal Affairs – 639,392 – – – 639,392 324 Department of Management Audit – 49,975 – – – 49,975 325 Department of Sri Lanka Coast Guard – 10,174,672 – 150,695,131 – 160,869,803 326 Department of Community Based Corrections – 4,291,174 – 928,950 – 5,220,124 327 Department of Land Use Policy Planning – 928,715 7,000 1,379,819 7,000 2,308,534 328 Department of Manpower and Employment 8,495 1,009,353 5,300 29,380 13,795 1,038,733 329 Department of Information Technology Management – 18,771,838 – – – 18,771,838 331 Department of Samurdhi Development 29,732,193 1,287,809,463 61,458,625 919,776,596 91,190,817 2,207,586,060 332 Department of National Community Water Supply – – – 109,849,974 – 109,849,974 333 Comptroller General's Office – – – – – –
Financial Grand Total 13,215,942,331 73,059,616,562 40,747,340,186 91,507,644,906 53,963,282,517 164,567,261,468 Statements
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Notes to the Financial Statements contd... (Rs.) Total 316,301,772,906 286,939,552,883 29,362,220,023 Eastern Eastern 28,009,964,730 71,171,209 Sabaragamuwa Sabaragamuwa ,318,625 30,0 23,132,672,251 25,064 Province 2,195,472,562 2,465,501,185 4,216,034,602 3,210,225,894 2,315,159,710 2,624,560,944 1,998,452,475 8,754,511,268 4,377,350,972 8,878,359,266 3,879,062,156 3,677,308,640 5,056,825,632 3,921,499,365 91,303,417,723 33,313,633,637 24,463,217,205 34,085,727,147 19,922,446,357 22,749,158,916 27,446,610,265 26,011,512,255 35,509,106,200 26,928,718,390 38,301,761,749 Western Western Central Southern Northern North Western North Central Uva 7,591,646,610 2,745,166,042 44,922,411,561 7,836,088,863 61,380,218,439 37,567,028,662 68,971,865,049 40,312,194,704 Financial Statements Category Recurrent Recurrent Expenditure Total Total Expenditure Total Total Revenue Capital Expenditure Schedule IV Schedule IV – 2019 AND EXPENDITURE REPORT COUNCILS REVENUE PROVINCIAL OF STATEMENT
317 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Notes to the Financial Statements contd...
Schedule V – FACE VALUE OF THE TREASURY BOND (9093) AS AT 31ST DECEMBER 2019
As per Financial Position report 4,338,280,041,155.70 Add: Unaccounted Discount Value 318,245,794,343.65 Face Value of Treasury Bond 4,656,525,835,499.35
Unaccounted Treasury Bond Discount as at 31.12.2019 Amount Accounted in Main Year of Maturity Face Value Unaccounted Discount Ledger (9093) 2020 219,042,950,000 191,962,845,304 27,080,104,696 2021 155,145,150,000 140,919,338,525 14,225,811,475 2022 278,814,745,500 250,293,254,150 28,521,491,350 2023 173,988,320,000 154,496,304,417 19,492,015,583 2024 73,831,830,000 72,609,412,264 1,222,417,736 2025 121,375,900,000 116,422,582,199 4,953,317,801 2026 151,613,230,000 95,909,645,959 55,703,584,041 2028 210,778,920,000 156,349,055,008 54,429,864,992 2030 27,437,000,000 26,385,533,209 1,051,466,791 2032 134,365,350,000 77,077,329,416 57,288,020,584 2033 144,976,500,000 106,586,980,134 38,389,519,866 2035 74,565,000,000 70,868,796,105 3,696,203,895 2043 33,809,250,000 22,143,149,567 11,666,100,433 2045 10,058,000,000 9,532,124,900 525,875,100 1,809,802,145,500 1,491,556,351,156 318,245,794,344 Financial Statements
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336 Appendix Statistical
Statistical Appendix MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (a) (d) (d) 2095 (d) (d) 2095 (d) (d) 75.5 75.5 75.5 2095
– 92.5 93.3 93.20 93.10 92.60 92.60 92.5 2,111 - – (e) 95.7 95.7 n.a. 8.2 n.a. n.a. n.a. 8.5 8.5 8.5 2,094 – – 20.3 35.0 37.0 40.0 24.9 27.1 27.60 28.6 29.0 30.1(f) – – 16.1 2,118 – – – – 1.1 1.1 1.1 1.1 1.1 1.0 1.0 0.9 0.8 0.9 0.9 1.1 1.1 1.1(g) (g) 0.6 5.9 5.9 5.9 5.9 5.9 6.2 5.9 6.0 6.2 6.2 6.3 6.2 6.5 6.4 6.6 317 319 332 326 329 333 324 327 331 334 338 342 346 348 -1.5 -1.8 -2.2 -1.4 -1.1 -2.2 -2.6 -2.3 -2.0 0.7 2.1 2.3 0.8 -2.3 91.5 91.1 91.3 91.4 91.9 92.2 14.2 – – 22.3 22.0 n.a. n.a. n.a. n.a. n.a. n.a. n.a n.a n.a 18.8 19.3 18.8 18.4 17.6 17.4 17.5 17.9 16.9 16.0 15.6 15.2 15.1 14.6 10.0 10.0 8.5 8.5 9.7 – – 9.35 9.35 9.36 9.37 9.34 9.35 9.36 11.70 14.10 11.80 11.50 11.76 11.74 11.73 11.72 1,252 1,264 1,277 1,288 1,301 1,316 1,592 1,605 1,635 1,648 1,668 1,684 1,701 1,710 48.35 48.34 48.38 48.36 48.36 48.38 49.40 52.90 49.40 49.10 49.40 49.40 49.40 49.40 5,220 5,266 5,315 5,378 5,431 5,488 5,132 5,171 5,235 5,288 5,348 5,411 5,470 5,504 13,386 13,509 13,625 13,784 13,921 14,065 13,604 13,707 13,901 14,030 14,187 14,349 14,499 14,589 19,858 19,858 20,039 20,217 20,450 20,653 20,869 20,328 20,483 20,771 20,966 21,203 21,444 21,670 21,803 km '000 Births Births Population Overall % of % of Overall Per '000 Live Live '000 Per Persons per sq. Persons % of Population % of Per 100,000 Live Live 100,000 Per (e) (c) Item Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (b) 0 -14 Years 0 -14 15- 64 Years 15- 64 and Over Years 65 Table 1 | Sri Lanka: Demographic and Related Trends and Related Demographic 1 | Sri Lanka: Table PopulationYear Mid Group Age by Population Year Mid- Population of Growth Population Density of Life Expectancy at Birth Crude Birth Rate Crude Death Rate (IMR) Infant Mortality Rate '000 (MMR) Mortality Rate Maternal Rate Net Migration Dependency Ratio and Over – 65 years Dependency Ratio % Rate Literacy Years Rate Literacy Computer Daily Calorie IntakeAverage '000 Per '000 Per % '000 Per Kilocalories % Source: Department of Census and Statistics, Department of Immigration and Emigration and Ministry of Education and Ministry of and Emigration Immigration Department of and Statistics, Census Department of Source: Provisional (a) 10 years & over Population (b) 2014 & 2017 2006/07,2009, Survey Literacy Computer (c) in 2016 Survey and Expenditure Household Income (d) and Statistics Census and Housing 2012,Department of Population of Based on Census (e) (f) First 6 months Department General’s by Registrar As reported (g) Statistical Appendix
338 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 rature. 1,921 1,921 1,640 2,020 1,711 1,992 2,027 1,776 1,687 2,375 2,387 1,351 1,757 1,944 2,054 c c 0 0 mm Item Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Anuradhapura Badulla Batticaloa Colombo Hambantota Kandy Kurunegala Eliya Nuwara 90.3 Ratnapura 109.2Vavuniya 127.1 108.4 89.3 90.2 65.7 98.6 95.9 163.9 69.8 91.8 114.4 131.6 114.1 72.6 139.9 130.8 241.7 111.0 90.9 145.4 56.0 145.5 207.0 162.0 91.0 162.5 131.6 440.2 62.6 312.2 76.8 97.0 87.0 102.9 121.6 127.5 81.9 82.9 186.3 77.6 108.6 79.4 192.5 115.4 229.2 100.6 114.6 123.2 195.9 48.7 122.4 93.0 146.6 147.8 176.5 134.3 135.4 81.3 62.8 79.4 182.9 115.6 186.1 92.1 104.8 102.8 144.4 156.5 210.6 68.2 126.2 73.8 137.3 112.0 172.1 114.4 315.5 104.7 139.9 181.2 97.4 256.9 78.8 94.1 139.6 92.2 104.7 166.9 145.9 94.8 104.0 109.5 162.6 95.2 69.7 163.9 127.3 139.6 99.1 125.9 73.2 75.4 97.9 123.2 93.4 148.3 114.9 80.4 156.4 225.7 60.3 77.1 133.5 178.1 85.2 120.0 81.8 94.9 64.5 104.8 205.2 82.7 78.7 188.6 136.0 136.5 74.9 73.6 202.5 348.5 71.6 65.2 181.3 93.6 106.8 184.0 88.6 77.6 Low Country Low Hill Country Country Low Hill Country 24.7 24.4 17.2 24.3 17.2 24.7 31.2 17.0 24.9 31.2 26.2 16.9 24.7 26.0 31.1 17.5 24.2 25.8 31.4 17.1 24.3 26.1 31.4 16.8 23.4 25.9 31.1 24.3 17.1 26.0 32.1 24.7 17.1 26.1 31.7 24.4 16.9 25.3 31.9 24.1 25.7 17.2 32.0 24.6 25.9 18.2 32.6 26.5 16.9 32.1 27.3 17.1 31.8 25.8 32.3 26.3 Table 2 | Climate Table Total (Average) Annual Rainfall Highest Rainfall with Highest Rainfall Cities mm Minimum Temperature Annual Average Annual Average Maximum Temperature Annual Average Source: Department of Meteorology Department of Source: tempe hill country of for the calculation been considered have stations and Katugastota Nuwaraeliya Badulla, Bandarawela, Note:
339 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 Rs 130.63 2.30 130.63 0.89 0.89 US$ Yen Euro Indian Rs
End YearAverage Annual US$ Yen Euro Indian ar 2002. From 2010 onwards, data is based on the year 2010 GDP estimates of the of estimates is based on the year 2010 GDP data 2010 onwards, ar 2002. From (%) Price Price Annual of NCPI of Change Average Average (%) Price Price Annual of CCPI of Change Average Average (%) G D P Deflator Deflator Cost Prices) (%) Prices) Cost Share of GDP (at Current Factor Factor Current (at GDP of Share estimates were revised in 1982 and 1996 by Central Bank of Sri Lanka. Lanka. Sri in 1982 and 1996 by Central Bank of revised were estimates (%) GDP GDP Real Real Growth Growth Accounts 2,057 2,057 3.5 12.7 29.7 57.6 5.9 3.5(d) - 114.38 1.24 163.72 2.46 114.94 1.23 160.21 2.40 4,079 4,079 3.3 7.9 26.6 57.1 4.3 4.3 (f) 2.1(f) 182.75 1.65 208.99 2.61 162.54 1.47 191.71 2.37 3,842 5.0 8.2 27.2 57.4 0.6 2.2(f) 3.8 (f) 144.06 1.20 157.37 2.17 135.94 1.12 150.84 2.12 3,852 2.3 7.4 27.4 58.2 2.2 4.3(f) 3.5(f) 181.63 1.67 203.67 2.55 178.78 1.64 200.14 2.54 3,886 4.5 7.4 27.8 56.4 4.8 4.0(f) 4.0 (f) 149.80 1.29 157.87 2.21 145.60 1.34 161.16 2.17 3,129 3,129 8.4 8.8 28.0 55.1 3.8 6.8(d) - 113.90 1.47 147.42 2.15 110.57 1.39 153.86 2.38 3,351 9.1 7.4 30.1 55.6 10.8 7.5(d) - 127.16 1.48 168.12 2.33 127.60 1.60 164.00 2.39 1,634 6.8 11.7 29.9 58.4 14.0 15.8(c) - 108.72 0.97 160.27 2.77 110.62 0.94 151.63 2.69 3,821 5.0 8.0 28.3 56.9 2.9 3.2(d) - 131.05 1.10 159.42 2.07 130.56 1.24 173.59 2.14 National GDP at GDP Current Current Rs. US$Services Industry Agriculture Per Capita Per Market Price Market 178,845 178,845 565,773 565,773 427,559 427,559 688,719 688,719 662,949 662,949 498,828 345,925 345,925 236,445 522,304 Mn.) (US$ Prices Prices GDP at GDP Market Market Current Current data from 2003 onwards based on the GDP estimates of the Department of Census and Statistics with base ye Census and Statistics the Department of estimates of based on the GDP data from 2003 onwards Mn.) GDP at GDP Market Market Accounts Current Current 7,219,106 7,219,106 65,290 9,592,125 9,592,125 74,294 466,112 3,610 3.4 7.7 29.2 56.4 6.2 6.9(d) - 130.75 1.24 180.45 2.11 129.11 1.32 171.51 2.21 6,413,668 56,728 310,214 2,400 8.0 8.5 26.6 54.6 7.3 6.2(d) - 110.95 1.36 147.56 2.48 113.06 1.30 150.10 2.49 10,361,151 10,361,151 79,359 14,366,103 88,385 14,366,103 4,410,682 40,715 218,167 2,014 6.0 13.4 29.4 57.2 16.3 22.6(c) - 113.14 1.25 159.45 2.36 108.33 1.05 159.31 2.52 8,732,463 8,732,463 68,436 11,996,083 82,390 11,996,083 3,578,688 3,578,688 32,351 Prices (Rs. (Rs. Prices 10,950,621 80,555 80,555 10,950,621 4,835,293 42,068 15,016,142 15,016,142 83,993 2,938,680 2,938,680 28,267 147,775 1,421 7.7 11.3 30.6 58.0 11.3 10.0(c) - 107.70 0.90 141.58 2.44 103.96 13,328,103 13,328,103 87,422 621,531 4,077 3.6 7.8 26.8 56.1 7.3 6.6(f) (f) 7.7 152.85 1.36 182.49 2.39 152.46 1.36 171.73 2.34 Year (e) GDP Inflation Rate Exchange 2011 2013 2014 2016 2015 2012 2010 2007 2006 2009 2008 2017 (a) 2018 (a) 2019 (b) Table 3 | Gross Domestic Product (GDP), Inflation and Exchange Rate Inflation and Exchange (GDP), Domestic Product 3 | Gross Table (f) 2013=100 Source : Department of Census and Statistics Statistics and Census of Department : Revised Provisional 2002=100 Source 2006/07=100 (a) (b) (c) (d) National (e) Department of Census and Statistics. Department of Statistical Appendix
340 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
(b) Rs.Million 2019 40 574,888 574,888 40 (a) 2018 (a) 2,119,080 2,119,080 2,218,711 2,267,725 2,396,833 2,509,421 2,540,315 2,608,211 2,035,600 2,035,600 2,442 2,142 2,254 2,441 2,287 1,882 2,347 2,044 1,820 1,973 26,318 31,521 23,472 25,258 23,139 27,320 32,855 32,909 33,845 31,178 60,231 60,231 57,110 62,201 53,424 64,158 67,514 66,971 53,773 57,577 68,062 69,450 69,450 67,644 75,582 81,982 82,243 83,179 90,095 93,552 96,761 100,511 28,468 28,147 44,426 50,833 57,505 60,797 62,931 63,200 66,914 66,223 26,094 26,094 27,605 24,738 24,925 24,968 27,728 30,283 31,885 32,226 30,803 264,905 238,254 244,496 264,527 276,800 282,719 289,001 304,090 314,442 326,803 Sector 2010 2011 2012 2013 2014 2015 2016 2017 Gross Domestic Product -Sectoral Composition (2010) Constant Prices (2010) Constant Composition -Sectoral Domestic Product Gross | Agriculture, Forestry and Fishing Forestry Agriculture, Crops and Other Non-perennial Tobacco Sugar Cane, of Growing 544,914 569,954 592,445 Crops Drug and Pharmaceutical Aromatic, Spices, of Growing 611,676 639,696 669,725 644,655 642,159 683,816 687,857 Oil Palm) Related products Related except Furniture except of Media Products of Pharmaceutical Products Pharmaceutical Industries 1,708,867 1,866,947 1 rice) (except Cereals of Growing 10,548 10,593 12,521 14,307 13,969 14,984 13,158 11,503 11,736 10,615 7 Leaves) (Green Tea of Growing 72,208 71,769 72,100 74,734 73,936 72,051 63,972 66,879 67,141 66,300 3Vegetables of Growing 47,704 52,349 51,244 54,153 55,244 56,730 58,349 55,240 57,439 58,298 5 Fruits of Growing 36,610 37,791 38,248 37,385 40,888 48,038 46,512 49,961 55,654 60,399 6 King Coconut, ( Coconut, Oleaginous Fruits of Growing 4 2 Rice of Growing 60,086 70,205 62,289 65,607 61,019 76,293 52,388 48,648 70,380 70,169 9 8 etc,.) Cocoa (Coffee, Crops Other Beverage of Growing 1,295 1,287 1,319 1,321 1,538 1,259 1,354 1,268 1,592 1,219 11 Crops Other Perennial of Growing 14,496 14,666 15,167 14,344 15,402 16,839 16,484 16,717 16,303 16,255 17 Mining and Quarrying 124,926 148,100 184,468 198,447 201,613 191,145 217,577 237,827 225,505 231,893 13Agriculture to Activities and Support Plant Propagation 8,533 8,436 9,105 9,183 9,767 10,421 10,210 9,238 9,258 8,675 19 Apparel and Wearing Leather Manufacture Textile, of 12 Animal Production14 and Logging Forestry 27,230 26,359 43,339 42,505 29,511 38,188 36,599 43,044 47,950 47,451 51,857 48,362 55,631 52,485 58,729 62,545 63,418 62,020 65,440 59,036 21 Printing and Reproduction Products, Paper of Manufacture 15Aquaculture Marine Fishing and 16Aquaculture Water Fishing and Fresh Water Fresh 9,737 11,065 77,579 12,560 89,575 97,063 12,435 103,879 14,072 105,822 12,503 104,413 13,735 105,100 103,043 15,208 102,175 16,304 96,589 16,797 18 ProductsTobacco and Beverages Food, of Manufacture 433,769 487,943 507,121 507,127 513,960 528,821 529,786 534,924 556,1 10 Rubber of Growing 44,411 45,956 44,249 37,987 28,688 25,783 23,028 24,165 24,085 21,807 23 and Basic Chemical Products of Manufacture 24 and Plastic Products Rubber of Manufacture 63,257 75,656 83,307 82,187 71,909 76,144 77,055 86,202 88,147 83,009 22 Products Petroleum and Refined Coke of Manufacture 22,281 35,457 28,858 27,514 28,723 29,075 31,245 29,743 27,312 33,694 25 Products Other Non-metallic Mineral of Manufacture 79,267 86,204 87,090 81,037 78,671 75,191 69,660 77,821 85,031 85,341 20 and Cork, Wood of and Products Wood of Manufacture Table 4 Table
341 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
437 437 (b) Rs. Million 2019 4 147,671 147,671 4 (a) 66,078 579,601 579,601 66,078 1,034,755 1,049,566 1,049,566 1,034,755 2018 8,779,434 8,976,825 512 687,918 701,880 (a) 9,147 9,147 9,668,600 9,889,379 4,618,501 4,894,717 5,127,616 5,313,435 5,555,303 5,680,757 4,405,644 2,526 2,178 2,252 2,422 2,513 2,624 2,831 2,804 2,519 2,639 31,665 26,295 24,591 26,589 24,882 28,953 38,577 43,862 48,111 46,328 48,660 34,555 41,962 44,443 55,993 68,509 70,923 76,943 78,408 75,040 136,574 136,574 155,994 173,898 146,551 147,962 160,056 162,405 174,155 179,356 182,777 383,823 367,093 385,615 382,470 402,206 430,105 452,586 430,672 428,022 437,065 Sector 2010 2011 2012 2013 2014 2015 2016 2017 Gross Domestic Product -Sectoral Composition (2010) Constant Prices (2010) Constant Composition -Sectoral Domestic Product Gross | Manufacture of Basic Metals and Fabricated Metal Products Basic Metals and Fabricated of Manufacture Social Security Compulsory and Defence; Administration Public Activities Work and Social Care Residential Activies, Human Health Gross Value Added (GVA), at basic prices (GVA), Added Value Gross 5,758,104 6,254,056 6,873,506 7,136,401 7,476,908 7,832,167 8,169,103 8,465,015 (+) Taxes less Subsidies on ProductsTaxes (+) 655,564 698,664 715,011 709,801 758,522 815,667 866,727 894,132 889,166 912,553 Gross Domestic Product(GDP), at market prices at market Domestic Product(GDP), Gross 6,413,668 6,952,720 7,588,517 7,846,202 8,235,429 8,647,833 9,035,830 9,35 Machinery and Equipment Video Productions Services4,245,462 3,817,155 3,504,323 31 and SupplyTreatment Collection, Water 9,381 9,846 10,554 10,975 11,504 12,023 12,972 13,562 14,351 15,139 41 Financial ServicesAuxiliary and Activities Financial Service 274,933 314,678 364,688 386,009 420,223 493,785 554,564 606, 47 37Activities Service and Beverage Food Accommodation, 87,693 105,372 134,160 126,392 131,481 134,017 139,443 146,432 154,79 27 and Equipment Machinery of Manufacture 35,909 33,650 30,849 30,845 32,064 38,848 46,610 50,967 52,075 52,578 34Trade Wholesale and Retail 705,778 788,048 848,686 859,977 884,094 933,216 957,088 993,667 1,040,360 1,071,847 35Warehousing including Goods and Passenger of Transport 662,153 745,891 805,391 849,539 885,506 931,529 982,703 1,013,857 36Activities Courier Postal 4,066 4,068 4,441 4,364 4,056 4,052 4,260 4,425 4,485 4,752 46 Education 138,553 136,172 167,107 157,477 173,751 159,875 171,830 172,701 179,524 185,116 26 33 Construction 336,381 424,798 514,757 553,438 611,842 596,697 645,994 674,097 657,070 683,371 39 Telecommunication 22,931 24,420 26,450 27,395 30,986 34,146 36,984 41,503 45,830 53,695 32Activities and Disposal Treatment Waste, Sewerage, 11,712 12,141 14,572 15,511 17,355 21,681 25,539 28,316 30,207 32,403 29 and Installation of Other Manufacturing and Repair 48Activities Service Other Personal 592,095 642,995 730,316 803,514 839,633 873,534 885,421 913,729 938,547 958,592 43 Dwelling Including Ownership of Activities, Estate Real 307,112 328,076 369,719 417,024 444,049 489,352 520,085 544,733 5 38 Audio and Activities and Broadcasting Programming 28 Furniture of Manufacture 56,402 53,352 63,922 67,488 82,748 94,489 96,303 97,920 100,302 100,797 42 Funding and Pension Reinsurance Insurance, 67,830 67,596 69,026 70,854 74,978 82,013 92,172 95,925 112,493 118,987 45 44 Services Professional 112,062 127,358 155,741 161,963 166,486 154,266 152,229 158,755 165,550 169,523 30 SupplyAir Conditioning and Gas, Steam Electricity, 68,491 73,927 75,262 76,789 80,298 85,202 92,356 94,803 100,382 104, 40Activities and Related Consultancy Programming IT 6,194 7,216 7,972 9,693 10,579 12,148 13,015 13,564 15,072 17,044 Table 4 Table and Statistics Census Department of Source: Revised (a) Provisional (b) Statistical Appendix
342 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (b)
0,382 3,791,721 3,791,721 0,382 4,372,357 4,372,357 4,112,690 51 101 60 (6) (230) (171) 2,126 2,068 2,065 686 993 1,771 129 2,303 29 55 62 20 43 60 64 65 67 53 237 72 68 77 98 110 230 245 265 355 564 604 628 677 724 786 848 899 -5.3 -4.3 -9.5 -0.5 -1.9 -7.1 -5.8 -3.4 -2.5 -2.3 -2.1 -2.6 -3.2 -2.2 -5.6 -4.6 -9.8 -0.7 -1.9 -7.1 -5.7 -3.4 -2.5 -2.4 -2.1 -2.6 -3.1 -2.1 153 186 198 217 81 170 505 571 808 533 418 538 525 445 410 410 385 342 350 576 830 1,039 1,715 2,431 2,981 3,518 3,925 4,381 3,607 -11.9 -11.3 -14.7 -7.4 -8.5 -14.9 -13.8 -10.2 -10.4 -10.4 -10.8 -11.0 -11.7 -9.5 355 423 548 375 819 452 2,116 2,068 2,065 686 993 1,771 129 2,303 304 322 488 381 1,049 623 (10) 0.0 (0.2) … … … …. …. 604 734 889 601 516 1,066 1,382 1,438 1,635 1,160 1,078 1,839 2,071 1,126 480 603 752 404 478 956 941 933 894 680 897 1,373 1,614 758 22.3 23.3 17.8 23.7 28.5 26.3 33.3 29.9 29.8 28.8 25.7 28.8 27.3 25.3 28.0 28.0 28.0 27.6 24.4 30.4 33.4 39.1 33.2 32.3 31.2 27.9 31.4 30.4 27.4 2,161 2,161 2,502 2,918 3,330 4,116 5,145 5,985 6,407 7,018 6,980 7,242 7,164 7,015 6,717 8,517 9,419 10,114 8,972 11,092 13,644 13,562 15,079 16,735 16,943 17,448 19,084 20,264 19,414 -1,499 -1,402 -3,886 -214 -1,075 -4,615 -3,982 -2,541 -1,988 -1,883 -1,742 -2,309 -2,799 -1,808 2,837 2,837 3,508 2,402 5,357 7,197 6,749 7,106 7,495 8,208 7,304 6,019 7,959 6,919 7,642 6,883 7,640 8,111 7,085 8,626 10,559 9,774 10,394 11,130 10,546 10,310 11,360 11,890 11,940 11,981 11,981 13,990 15,107 18,662 21,438 32,748 37,098 39,905 42,989 44,839 46,418 51,604 52,412 55,916 -3,368 -3,657 -5,981 -3,122 -4,825 -9,710 -9,417 -7,609 -8,287 -8,388 -8,873 -9,620 -10,343 -7,997 4,005 4,956 3,640 7,030 8,621 7,991 8,586 8,574 9,884 9,337 8,433 10,436 9,583 10,402 11,627 12,776 15,687 11,704 15,210 22,256 21,678 21,508 23,142 23,006 23,442 25,401 26,841 24,562 20,144 20,144 22,195 25,801 20,676 26,301 35,899 35,239 36,587 39,877 39,949 40,890 44,485 47,105 43,976 10,253 10,253 11,297 14,091 10,207 13,451 20,269 19,190 18,003 19,417 18,935 19,183 20,980 22,233 19,937 -165,939 -165,392 -430,970 -33,144 -121,475 -511,089 -501,869 -323,961 -259,437 -257,526 -254,159 -351,341 -451,975 -320,969 656,301 834,928 784,278 1,148,305 1,825,232 1,897,484 2,908,642 2,865,365 3,088,201 3,157,031 3,087,012 3,859,656 3,92 822,240 1,000,320 1,215,248 1,181,449 1,946,707 2,408,573 3,410,511 3,189,326 3,347,638 3,414,556 3,341,171 4,210,997 (b) (b) Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016(a) 2019 2017 2018 Rs. Mn Rs. Mn Rs. Mn US$ Mn. US$ Mn. US$ Mn. US$ Mn. US$ Mn. % of GDP % of GDP % of GDP % of % of GDP GDP % of % of GDP GDP % of (c) (c) Item (c) (c) Savings, Investments and Selected External Sector Indicators Sector External and Selected Investments Savings, (c)(d) (c)(d) | Inflows Outflows Loans & Other Inflows Outflows US$ Mn. US$ Mn. US$ Mn. US$ Mn. US$ Mn. Table 5 Table Investment Savings Gap – Investment Savings Investment Savings Savings – Investment Gap – Investment Savings Goods Exports of GoodsImports of Balance Trade Goods & Services Exports of Goods & ServicesImports of US$ Mn. Goods & of Exports and Imports US$ Mn. Services US$ Mn. US$ Mn. RemittancesForeign Tourism Earnings from US$ Mn. US$ Mn. Earnings from Computer and Computer Earnings from Information Services Account Current Balance Investments Direct Foreign including loans Portfolio InvestmentsPortfolio ReservesTotal Reserves Official Gross US$ Mn. Debt External Total US$ Mn. US$ Mn. US$ Mn. (d) National Savings Savings National (d) Format. as per BPM6 Presentation Investment” and “Portfolio Services” on “computer data to 2012, refers, Since Note: … negligible negligible Revised Provisional Sri Lanka Bank of and Central Customs Department of Source: … (a) (b) 2010 onwards. been used from have and Statistics Census the Department of (base year 2010) of estimates GDP Rebased (c)
343 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
(a) Rs. Million 8 1,734,925 1,734,925 8 459 1,898,808 459 ,228 2,915,291 2,915,291 ,228 9,714 2,301,155 2,301,155 9,714 44,677 107,883 59,694 – – – Lanka, Department of Census and Statistics, Department of Treasury Operations, Operations, Treasury Department of and Statistics, Census Department of Lanka, – 37,160 -17,578 18,060 146,922 48,875 4,619 25,068 11,280 105,693 10,230 140,148 -4,798 20,971– 222,967 -120,516 53,289 -129,461 -49,982 – – 41,941 63,748 12,933 83,885 194,912 193,888 180,760 88,421 315,564 369,257 429,130 381,956 464,593 362,763 83,797 111,308 114,437 185,247 193,891 44,171 70,984 256,942 192,812 196,737 398,575 120,165 279,653 477,221 87,930 127,863 67,730 194,171 270,004 287,060 364,593 183,317 422,543 556,370 574,249 601,306 771,608 935,101 30,068 30,508 31222 25,922 16,909 15,141 16,071 15,859 9,415 6,014 7,496 8,031 12,485 7,909 -70,127 -57,707 -88,450 -179,931 -119,815 -57,043 -79,560 -67,733 -127,693 -246,779 -71,721 -96,161 -169,740 -410,256 49,455 49,455 56,104 69,639 80,711 92,532 122,165 142,547 131,552 144,844 99,099 222,372 161,353 207,656 155,974 331,333 363,473 373,157 586,543 583,563 484,065 486,425 862,081 652,970 817,741 995,004 2,173,081 2,416,279 2,487,326 477,833 565,051 655,260 699,644 817,279 967,862 1,051,462 1,137,447 1,195,206 1,454,878 1,686,061 1,831,531 1,919,974 1,890,899 -45,989 -64,115 -54,797 -110,286 -75,092 -93,172 -183,833 -94,896 -106,979 -187,113 -145,119 -219,350 -307,015 -572,338 163,805 182,297 296,711 392,476 251,104 256,291 308,204 427,669 275,680 460,245 211,196 351,538 296,176 653,720 177,443 177,443 229,273 263,859 330,448 356,519 422,300 443,973 481,204 486,610 602,768 594,012 657,386 624,969 631,235 80,008 15,769 195,233 49,027 -1,892 191,850 131,527 30,578 61,897 40,541 -66,863 133,407 38,101 166,787 205,745 246,045 309,644 476,361 446,017 450,180 488,964 516,090 591,244 829,502 640,326 733,494 760,769 1,016,483 165,687 165,687 218,846 252,416 322,352 343,112 408,276 425,476 464,216 472,967 588,737 576,101 645,364 603,514 614,136 713,647 713,647 841,604 996,126 1,201,927 1,280,206 1,433,182 1,556,497 1,669,396 1,795,866 2,290,394 2,333,883 2,573,056 2,693 547,960 547,960 622,758 743,710 879,575 937,094 1,024,906 1,131,021 1,205,180 1,322,899 1,701,657 1,757,782 1,927,692 2,08 -247,536 -252,165 -258,720 -401,296 -389,672 -439,894 -415,441 -605,139 -460,158 -621,004 -596,429 -2,052,916 -2,136,627 -2,010,105 507,901 507,901 595,559 686,483 725,566 834,188 983,003 1,067,533 1,153,306 1,204,621 1,460,892 1,693,557 1,839,562 1,932, 428,378 428,378 508,947 585,621 618,933 724,747 845,697 908,915 1,005,895 1,050,362 1,355,779 1,463,689 1,670,178 1,712,31 -205,745 -246,045 -309,644 -476,361 -446,017 -450,180 -488,964 -516,090 -591,244 -829,502 -640,326 -733,494 -760,769 -1,016,483 (b) ounts, Department of Fiscal Policy and Central Bank of Sri Lanka Sri Lanka and Central Bank of Fiscal Policy ounts, Department of Acc Item 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Gross Borrowings Gross Repayments Source: Department of Inland Revenue, Sri Lanka Customs, Department of Excise, Telecommunications Regulatory Commission of Sri of Commission Regulatory Telecommunications Excise, Department of Customs, Sri Lanka Inland Revenue, Department of Source: (a) Provisional Provisional (a) borrowings and other non market proceeds divestiture Includes domestic grants, (b) Department of State Department of Gross Borrowings Gross Repayments Domestic Financing (Net) Total 5.2. Non- Bank Financing (Net) Bond Development Sri Lanka Bank Financing (Net) (Net) Other Borrowings 2.1 Recurrent 2.1 2.2 Capital and Net Lending Public Investment o/w Surplus(+)/ Deficit (-) Account 3. Current 4. Budget Deficit Budget Deficit 5. Financing of Financing (Net) Foreign Total 5.1. Table 6 | Economic Classification of Government Fiscal Operations Government Classification of 6 | Economic Table and Grants 1. Revenue Revenue Total 1.1 Tax Non-Tax 1.2 Grants and Lending minus Repayments 2. Expenditure Statistical Appendix
344 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (a) As a percentage of GDP of As a percentage 0.3 0.80.4 – – – Lanka, Department of Census and Statistics, Department of Treasury Operations, Operations, Treasury Department of and Statistics, Census Department of Lanka, 1.0 -0.4 3.0 0.8 0.3 1.2 1.5 0.2 2.0 -1.0 0.4 -0.9 -0.3 1.4 1.8 0.3 1.7 3.0 2.7 2.4 0.9 3.0 3.4 3.6 2.9 3.2 2.4 Item 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 ounts, Department of Fiscal Policy and Central Bank of Sri Lanka Sri Lanka and Central Bank of Fiscal Policy ounts, Department of Acc Economic Classification of Government Fiscal Operations Government Classification of Economic | Non-Tax 1.7 1.6 1.6 1.7 1.4 1.7 1.6 1.4 1.4 0.9 1.9 1.2 1.4 1.0 Tax 14.6 14.2 13.3 12.8 11.3 11.7 10.4 10.5 10.1 12.4 12.2 12.5 11.9 11.6 o/w Public Investment o/w 6.0 6.4 6.0 6.8 5.6 5.8 5.1 5.0 4.7 5.5 5.0 4.9 4.4 4.2 2.2 Capital and Lending minus Repayment 5.6 6.1 5.7 6.7 5.3 5.7 4.9 4.8 4.6 5.4 4.8 4.8 4.2 4.1 2.1 Recurrent 2.1 18.6 17.4 16.9 18.2 14.6 14.2 13.0 12.6 12.8 15.5 14.7 14.5 14.5 15.3 1.2 Grants 1.0 0.9 0.7 0.5 0.3 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 1.1 Total RevenueTotal 1.1 16.3 15.8 14.9 14.5 12.7 13.4 12.0 11.9 11.5 13.3 14.1 13.7 13.4 12.6 Other Borrowings (Net) Other Borrowings - 0.5 0.1 0.2 0.2 -0.1 1.5 – Bank Financing (Net) 2.7 0.4 4.4 1.0 0.0 2.7 0.7 0.3 0.6 0.4 -0.6 1.0 0.3 1.1 Sri Lanka Development Bonds Development Sri Lanka – Repayments -8.4 -7.0 -5.9 -8.3 -6.1 -6.1 -4.8 -6.3 -4.4 -5.7 -5.0 -15.4 -14.9 -13.4 Gross Borrowings Gross 11.3 10.2 8.5 12.1 9.1 6.7 5.6 9.0 6.3 7.5 8.3 16.3 16.8 16.6 Non- Bank Financing (Net) 2.9 3.1 2.6 3.8 3.0 0.6 2.2 2.7 1.9 1.8 3.3 0.9 1.9 3.2 5.2. Total Domestic Financing (Net)Total 5.2. 5.6 5.1 6.7 8.1 3.9 3.6 4.5 3.0 2.7 4.2 1.8 2.6 2.1 4.4 Repayments -1.6 -1.8 -1.2 -2.3 -1.2 -1.3 -2.1 -1.0 -1.0 -1.7 -1.2 -1.6 -2.1 -3.8 Gross Borrowings Gross 3.0 3.6 1.5 4.0 4.2 4.0 4.2 1.9 4.1 5.1 4.8 4.5 5.4 6.2 5.1. Total Foreign Financing (Net) Foreign Total 5.1. 5. Financing of Budget Deficit5. Financing of 7.0 6.9 7.0 9.9 7.0 6.2 5.6 5.4 5.7 7.6 5.3 5.5 5.3 6.8 4. Budget Deficit -7.0 -6.9 -7.0 -9.9 -7.0 -6.2 -5.6 -5.4 -5.7 -7.6 -5.3 -5.5 -5.3 -6.8 3. Current Account Surplus(+)/ deficit (-)Account 3. Current -2.4 -1.6 -2.0 -3.7 -1.9 -0.8 -0.9 -0.7 -1.2 -2.3 -0.6 -0.7 -1.2 -2.7 2. Expenditure and Lending minus Repayments2. Expenditure 24.3 23.5 22.6 24.9 20.0 19.9 17.8 17.4 17.3 20.9 19.5 19.3 18.7 19.4 Table 7 Table and Grants1. Revenue 17.3 16.6 15.6 15.0 13.0 13.6 12.2 12.0 11.6 13.3 14.1 13.8 13.5 12.6 (a) Provisional (a) 2010 onwards. been used from have and Statistics Census the Department of (base year 2010) of estimates GDP Rebased Note: Department of State Department of Source: Department of Inland Revenue, Sri Lanka Customs, Department of Excise, Telecommunications Regulatory Commission of Sri of Commission Regulatory Telecommunications Excise, Department of Customs, Sri Lanka Inland Revenue, Department of Source:
345 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
51 (a) ,740 ,740 5,301 3,963 15,443 98,427 Rs. Million – – 5 49,445 49,445 5 42 399,477 399,477 42 ,081 130,378 130,378 ,081 ,450 427,699 427,699 ,450 2,198 87,367 87,367 2,198 169,672 272,602 272,602 169,672 – – 7 1,712,318 1,734,925 1,734,925 1,712,318 7 443,739 461,650 443,877 – – 8,823 102,360 113,950 112,174 182,493 176,508 211,057 322,047 – – – – – – – – – 11,594 19,310 19,040 23,076 25,243 28,494 28,044 39,029 49,715 51,192 52,446 27,205 46,022 35,667 38,736 40,937 44,583 45,004 57,424 69,035 71,357 70,673 – – 14,603 18,965 10,173 15,622 33,666 46,705 47,953 52,276 55,825 71,402 75,807 70,364 – – – – 6,255 7,187 8,410 8,036 10,843 4,232 – 92,678 101,962 100,831 67,619 99,578 120,961 120,234 126,317 135,266 89,173 115,336 168,393 179,163 169,914 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (d) Item 1,516 4,026 3,751 3,328 4,439 – (b) (b) (c) (c) Economic Classification of Government Revenue Government Classification of Economic Services 49,613 62,920 79,116 75,652 88,694 71,447 69,680 80,716 93,630 87,242 132,721 199,500 202,339 188,717 Manufacturing 22,265 22,570 23,699 28,239 31,718 33,450 39,828 43,724 46,454 43,285 35,413 75,846 80,148 85,246 | Personal and Corporate Income Tax Income and Corporate Personal 50,175 59,659 68,235 72,162 78,914 97,814 98,124 121,136 122,343 193,531 Corporate & Non Corporate Corporate 42,710 48,409 53,901 57,716 62,646 83,016 83,360 102,578 100,046 167,325 154,324 143,588 Economic Service Charge (ESC) Charge Service Economic 8,853 12,203 14,476 14,207 18,048 21,335 14,864 6,596 6,155 6,148 20,458 44,720 52,979 5 Tax on Interest Income on Interest Tax 20,665 35,307 43,830 53,188 38,662 38,160 59,606 77,934 69,617 62,904 55,906 53,334 46,414 50,3 Domestic (Net) 71,877 85,490 102,815 103,891 120,412 104,897 109,370 124,440 140,084 130,527 168,134 275,346 282,487 27 Import (net) Import Liquor 20,661 23,723 27,434 28,525 36,654 55,286 60,086 66,008 69,100 105,234 120,238 113,684 113,944 1 Cigarettes/Tobacco 30,067 31,437 37,288 37,602 40,675 49,623 53,563 58,567 57,240 80,015 88,792 86,002 9 Petroleum 18,234 19,124 18,977 23,018 28,038 22,470 28,466 27,131 28,732 45,092 55,719 73,983 66,318 61 Motor Vehicles Motor 21,671 17,415 11,067 3,192 21,199 71,646 78,509 96,478 98,531 263,470 186,499 189,740 204 Other 2,896 4,976 6,205 5,268 3,298 5,798 3,336 2,516 3,087 3,812 3,704 6,091 7,701 4,549 Income Tax Income 79,693 107,169 126,541 139,558 135,624 157,310 172,594 205,666 198,115 262,583 258,857 274,562 310 Domestic – Pay-As-You-Earn (PAYE) Pay-As-You-Earn 7,465 11,250 14,334 14,446 16,268 14,798 14,764 18,558 22,297 26,206 28,169 32,920 41,38 Value Added Tax (VAT)Tax Added Value 164,555 187,452 203,646 171,510 219,990 225,858 229,604 250,757 275,350 219,700 283,470 1. Tax RevenueTax 1. 428,378 508,945 585,619 618,931 724,748 845,697 908,914 1,005,894 1,050,360 1,355,778 1,463,688 1,670,17 Import Duties 52,657 56,017 63,842 79,560 64,165 79,811 80,155 83,123 81,108 132,189 156,487 136,501 96,991 Ports & Airports Development Levy (PAL) Levy Airports Development & Ports 21,126 26,700 31,017 36,286 49,632 66,028 70,111 61,987 68,646 58,644 8 Cess Levy Cess 5,872 17,157 24,472 28,520 29,752 29,662 32,741 36,091 38,707 46,289 61,730 59,554 53,369 50,703 Debits Tax Tax Debits Special Commodity Levy (SCL) Levy Special Commodity – Nation Building Tax (NBT) (NBT) Tax Nation Building Excise Tax Excise 93,529 96,675 100,971 97,604 129,864 204,822 223,960 250,700 256,690 497,623 454,952 469,500 484,2 Stamp Duties Table 8 Table Statistical Appendix
346 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
(a) 269 ounts, Acc Rs. Million 27,857 27,857 6 155,974 155,974 6 2 73,884 2 State 15,000 – 0 25,214 28,985 530 1,919,974 1,890,899 1,890,899 1,919,974 530 ations, Department of ations, Department of 5,000 – Lanka, Department of Treasury Oper Treasury Department of Lanka, unications sector by removing VAT, NBT, Regional Infrastructure Development Levy, Levy, Development Infrastructure Regional NBT, VAT, by removing sector unications stamp duties is transferred to PCs. The BTT collected by Provincial Councils was was Councils by Provincial collected The BTT PCs. to duties is transferred stamp er the revenue sharing mechanism with them. sharing mechanism er the revenue 8,869 18,651 22,290 24,445 31,351 33,358 35,976 33,399 28,326 18,261 15,611 26,712 16,627 15,660 15,694 16,089 16,960 18,395 19,320 20,165 18,227 – – – – – 4,000 8,000 20,000 15,000 22,000 43,000 26,350 11,500 – – 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 (e) Item Economic Classification of Government Revenue Government Classification of Economic | Department of Fiscal Policy and Central Bank of Sri Lanka Sri Lanka Bank of and Central Policy Fiscal Department of abolished in 2011 and NBT was extended to buying and selling activities. to extended was abolished in 2011 and NBT Environment Conservation Levy and the Mobile Subscribers’ Levy on this sector in 2011. on this sector Levy Subscribers’ and the Mobile Levy Conservation Environment Imports – Rent 1,294 1,709 2,050 1,425 2,048 3,580 2,197 2,331 5,669 2,823 10,980 4,450 5,591 4,727 Interest 10,320 9,242 9,305 9,043 8,017 9,847 9,489 9,664 7,978 4,498 4,826 7,395 8,140 13,819 Profit and Dividends Profit 7,451 7,682 7,365 11,982 31,301 34,351 46,761 35,169 46,814 29,798 108,160 53,998 41,828 Sales and Charges 22,249 18,437 32,260 25,387 22,925 37,292 26,019 40,720 38,492 44,632 72,606 66,575 105,20 Social Security Contributions 6,470 8,777 9,791 11,165 11,120 12,628 11,738 15,145 14,919 15,213 18,046 22,94 Central Bank Profit Transfers Bank Profit Central – Other 1,671 6,257 868 1,710 2,122 2,468 3,343 2,173 19,472 2,135 2,754 5,995 6,681 6,701 Telecommunications Levy Levy Telecommunications Table 8 Table License Taxes & OtherTaxes License 3,175 6,563 8,367 8,361 15,376 8,035 5,058 5,485 7,858 8,113 10,145 10,126 16,177 43, 2. Non Tax RevenueTax 2. Non 49,455 56,104 69,639 80,712 92,532 122,165 142,547 131,552 144,844 99,099 222,372 161,353 207,65 Total RevenueTotal 477,833 565,049 655,257 699,642 817,279 967,862 1,051,461 1,137,446 1,195,206 1,454,877 1,686,060 1,831, (c) (c) April 2011. from with effect abolished was Debits tax (d) PCs und to is transferred one third as the balance NBT from revenue the total of thirds only two 2011 represents from Data (e) (e) the telecomm to tax as a composite introduced was which Levy, Telecommunications from the revenue 2011 represents from Data Source: Department of Inland Revenue, Sri Lanka Customs, Department of Excise, Telecommunications Regulatory Commission of Sri of Commission Regulatory Telecommunications Excise, Source: Department of Customs, Sri Lanka Inland Revenue, Department of (a) Provisional Provisional (a) (b) from the revenue of 100 percent -PCs), Councils with the Provincial in 2011 sharing mechanism introduced Under the revenue
347 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
(a) Rs. Million – – -5,985 ,714 2,301,155 2,301,155 ,714 ,228 2,915,291 2,915,291 ,228 – – – – – – – – 436,395 527,227 610,895 735,565 852,190 901,352 – – 444,007 444,007 – – licy and Central Bank of Sri Lanka Sri Lanka Bank of licy and Central – – – – 379,731 379,731 388,286 451,605 487,833 512,624 568,829 746,011 722,054 734,490 764,900 848,279 94,652 104,002 133,826 143,599 168,849 223,520 201,768 207,551 274,916 248,833 290,083 262,527 233,703 83 700 1,457 1,932 2,126 854 -2,088 -1,019 1,249 -1,070 708 4,396 4,129 1,172 172 172 150 217 – 409 160 341 5 1 459 1,459 1,379 516 668 2,191 -144 – 1,576 1,576 1,416 3,075 3,110 3,112 3,784 3,676 3,810 4,417 18,959 26,011 16,633 18,010 19,997 2,041 2,041 549 625 1,950 – – 11,123 11,123 9,660 10,024 11,727 12,527 13,079 11,040 9,424 21,200 7,832 18,006 16,726 16,341 19,889 3,473 3,473 12,684 19,809 44,936 41,025 30,464 25,394 9,913 13,113 561 -934 7,021 -9,047 -4,933 11,867 11,867 11,000 26,450 26,935 26,028 29,802 36,456 19,706 31,858 49,571 27,771 30,361 26,979 34,966 32,371 32,371 50,408 59,991 90,291 99,151 105,603 145,935 143,504 147,166 197,712 184,689 242,322 221,135 200,172 14,074 14,074 22,810 26,463 30,547 32,519 33,008 36,615 40,677 44,471 61,633 61,336 59,891 62,423 76,644 77,994 77,994 78,472 121,250 108,502 87,728 132,004 140,086 119,396 127,847 184,281 151,293 145,972 138,855 161,827 19,699 19,699 20,346 21,237 23,780 24,101 27,619 25,266 29,692 31,547 34,063 29,887 34,511 23,481 18,812 61,453 69,366 73,791 74,634 81,887 90,818 88,217 105,034 121,789 150,796 143,740 149,715 162,086 179,971 10,789 10,789 9,200 9,995 9,267 9,241 9,043 10,553 15,256 15,042 39,994 40,740 39,707 39,239 44,660 -13,881 -11,677 -13,526 -11,978 -15,535 -14,878 -16,409 -15,969 -14,892 -12,961 -18,619 -16,418 -25,584 -18,271 18,336 10,639 12,942 14,126 12,361 12,999 11,817 13,854 21,387 27,927 29,120 23,438 23,367 26,153 29,012 29,012 25,725 46,950 42,970 38,618 71,741 92,738 74,307 50,767 106,567 60,157 61,705 55,479 62,492 21,526 23,737 22,432 19,750 20,345 35,168 50,860 27,193 28,322 42,473 32,066 13,394 17,911 20,704 16,990 16,990 21,311 30,277 35,698 55,464 68,565 90,839 100,985 108,461 77,174 101,076 138,546 184,532 233,970 15,230 23,112 31,253 53,032 54,433 44,488 43,891 26,901 26,756 14,592 16,977 19,043 12,408 12,166 36,283 41,671 61,201 50,695 33,471 43,400 32,631 31,855 51,463 50,923 47,119 50,908 49,025 59,449 547,959 547,959 622,758 743,711 879,575 937,094 1,024,906 1,131,023 1,205,180 1,322,899 1,701,657 1,757,782 1,927,691 2,089 54,544 61,799 65,315 71,859 75,817 83,072 95,965 113,223 133,584 172,491 184,856 197,914 212,481 240,329 713,646 841,604 996,126 1,201,927 1,280,205 1,433,182 1,556,499 1,669,396 1,795,865 2,290,394 2,333,883 2,573,056 2,693 44,960 60,185 73,509 94,189 110,335 112,703 126,950 134,295 141,138 176,810 180,829 180,998 189,055 189,508 20,807 20,807 25,746 26,407 27,049 27,661 32,164 34,979 39,407 46,577 46,008 54,364 61,679 65,598 69,130 58,006 58,006 68,822 74,922 85,139 90,995 99,961 111,682 123,293 127,049 156,577 173,152 181,696 194,488 227,670 175,031 175,031 214,160 239,078 271,229 300,558 319,601 347,747 393,228 440,982 561,730 570,761 588,518 626,045 686,452 88,209 111,510 128,605 143,590 158,488 208,963 176,562 252,535 252,303 313,260 328,202 348,260 350,034 385,366 133,787 133,787 161,370 182,198 273,978 297,127 288,134 317,659 343,022 327,934 450,053 509,819 597,020 667,658 667,383 144,157 144,157 147,445 170,908 190,168 196,216 216,601 234,692 248,549 317,674 428,419 424,833 457,636 472,624 551,524 253,025 253,025 292,632 360,328 162,214 206,162 232,607 277,416 302,087 377,812 400,082 454,303 459,854 588,176 577,035 638,343 612,561 619,069 150,777 150,777 182,681 212,475 309,676 352,592 356,699 408,498 104,842 110,910 131,342 148,993 156,194 171,438 187,895 195,288 249,710 354,484 341,349 372,519 383,659 456,241 Item 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 o/w Pensions o/w
Total Total Economic Classification of Government Expenditure and Lending Minus Repayments and Lending Minus Repayments Expenditure Government Classification of Economic Salaries and Wages Salaries and Government Central Councils Provincial Defence and Public Security Police Goods and Services of Other Purchases Government Central Councils Provincial Defence and Public Security Police Households Samurdhi Subsidy Fertilizer | Foreign Domestic Sub National Governments Non Financial Public Enterprises Institutions and other Institutions Non Financial Public Enterprises Sub National Governments Abroad 1.1 Expenditure on Goods & Services Expenditure 1.1 Payments 1.2 Interest Transfers 1.3 Subsidies and Assets Capital Fixed of Acquisition 2.1 Accounts Advance Net Lending through 3.1 Public Enterprises 3.2 Lending to Public Enterprises by 3.3 Loan Repayments Expenditure 3.4 Restructuring 2.2 Capital Transfers2.2 Capital 74,005 Table 9 Table 1 Expenditure Recurrent 2 Expenditure Capital 3 Minus Repayments Lending Source: Department of National Budget, Department of Treasury Operations, Department of State Accounts, Department of Fiscal Po Department of Accounts, State Department of Operations, Treasury National Budget, Department of Source: Department of (a) Provisional (a) Statistical Appendix
348 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (a) 32,752 32,752 146,254 Rs. Million 8 55,845 8 32 112,890 32 568 211,555 568 052 142,358 052 ,986 2,839 ,986 50,261 40,472 40,472 50,261 195,168 195,168 234,392 276,773 319,906 9 685,739 807,446 18 437,897 475,922 19 33,230 41,592 013 228,235 244,430 1,362 44,275 37,633 113,175 113,175 107,847 108,024 7 71,460 63,451 77,033 6 424,975 422,432 440,420 0 66,663 58,895 56,662 59 59 34,657 41,805 39,908 343 83,787 86,350 87,965 594,013 657,386 624,970 631,235 9 200,478 228,847 216,147 197,068 25 2,351,795 2,585,079 2,714,683 2,932,390 436,395 527,227 610,895 735,566 852,190 901,352 444,007 444,007 nts and Department of Fiscal Policy Policy Fiscal nts and Department of 1,131,023 1,131,023 1,205,180 1,322,898 1,701,657 1,757,782 1,927,693 2,089,713 2,301,155 6,998 11,435 16,726 19,656 15,354 18,715 20,313 24,270 49 335,427 399,666 446,441 564,190 607,626 640,36 State Accou State 1,008,244 – 18,334 19,141 17,267 17,727 31,954 23,882 20,426 20,493 14,098 12,231 – – Operations, Department of 0,768 0,768 260,072 267,636 315,7 – 185,201 221,105 316,759 362,455 365,583 449,191 452,814 437,073 549,763 612,544 736,040 854,490 910,931 – 2,766 2,766 3,647 3,323 3,429 3,492 3,533 3,612 4,001 394 5,479 1,334 1,478 1,483 1,147 26,376 26,376 47,850 48,783 59,983 66,569 85,186 85,589 87,517 51,314 55,499 48,840 54,872 39,107 75,938 162,996 162,996 National Budget, Department of Treasury Treasury National Budget, Department of Item 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Functional Classification of Government Expenditure Expenditure Government Classification of Functional | Energy and Water Supply Water and Energy Supply Water and Energy General Public Services General 136,352 165,807 207,348 224,281 228,184 245,266 254,371 270,554 334,354 414,275 408,17 Economic Services Economic 106,788 141,244 168,879 256,410 278,803 342,653 343,828 369,377 330,136 429,030 424,021 474,1 Transport and CommunicationTransport 19,038 18,983 29,587 31,068 31,246 31,823 34,995 36,810 41,129 57,028 48,9 and CommunicationTransport 37,988 50,995 82,916 139,104 165,505 190,026 204,539 210,398 177,471 239,27 Civil Administration Civil 29,912 31,481 36,150 37,123 37,895 43,076 47,135 54,303 73,282 105,661 104,518 Agriculture and IrrigationAgriculture 12,615 14,736 17,681 22,105 24,865 28,617 30,351 36,721 57,099 54,447 68,99 Other – Other 29,810 27,663 19,499 35,219 21,804 38,825 23,350 34,741 44,252 79,805 105,713 123,736 123,748 Defence 81,243 101,856 134,710 144,884 145,243 156,103 163,219 170,150 195,401 233,733 224,315 228, Other Other 912 900 341 5 1 459 1,459 1,379 516 668 2,191 1,614 3,579 1,951 Social Services 204,635 226,271 24 Education 61,144 72,592 77,141 82,414 85,195 99,043 107,271 119,819 139,787 169,600 179,319 187,628 General Public Services General 21,356 32,143 34,403 20,095 21,510 32,484 27,510 32,804 43,620 48,699 50,504 46,348 Health 44,069 51,741 55,874 58,789 60,506 74,443 81,946 99,609 116,151 140,560 155,402 161,312 180, Civil Administration Civil 18,109 28,438 29,675 18,686 20,212 28,668 26,565 31,631 40,282 44,886 46,128 4 Welfare 86,753 91,747 94,789 105,017 107,690 123,122 128,451 159,787 165,467 230,035 251,490 264,510 Police and Public Security Police 3,247 3,705 4,728 1,409 1,298 3,816 945 1,173 3,338 3,813 4,376 4,986 5 Social Services 48,387 54,986 60,236 53,938 56,205 63,366 71,176 77,643 112,338 124,370 117,297 135,307 133,2 Economic Services Economic 43,977 45,479 74,489 78,464 78,819 81,646 92,034 82,146 105,031 173,430 129,435 126,310 127, Education 17,200 19,948 22,942 18,092 19,053 22,326 28,930 31,982 50,363 55,447 58,971 69,752 71,74 Agriculture and IrrigationAgriculture 22,173 22,849 41,579 43,967 44,081 46,290 46,429 29,899 46,782 91,267 63,78 Health 13,969 16,961 18,674 12,664 13,329 14,794 17,155 19,920 22,252 37,230 30,747 35,509 37,893 Housing 4,021 4,481 4,826 5,291 5,489 7,105 7,823 8,014 7,769 7,811 7,152 9,553 9,493 12,062 Community Services Community 13,197 13,596 13,794 17,891 o/w Interest Payments Interest o/w 150,777 182,681 212,475 309,675 352,592 356,699 408,498 1. Recurrent Expenditure Expenditure 1. Recurrent 547,960 622,758 743,710 879,575 937,094 Police and Public Security Police 25,197 32,470 36,487 42,274 45,046 46,087 44,017 46,101 65,671 74,881 79, Community Services Community 12,669 10,191 12,963 13,852 14,245 19,141 17,758 20,451 25,036 23,995 21,415 26,9 2. Capital Expenditure and Lending 2. Capital Expenditure 177,443 229,273 263,859 330,448 356,519 438,962 443,972 481,203 486,610 602,767 Table 10 Table Total Expenditure and Lending Expenditure Total 725,403 852,031 1,007,569 1,210,023 1,293,613 1,447,206 1,574,995 1,686,383 1,809,508 2,304,4 (a) Provisional (a) Source: Central Bank of Sri Lanka, Department of Department of Sri Lanka, Bank of Source: Central
349 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 43 (a) 3,231,464 4,606,232 27 6,017,992 6,629,104 ,618 5,959,547 6,402,439 5,959,547 ,618 dget, Department of Treasury Operations, Department of State Accounts and Accounts State Operations, Department of Treasury dget, Department of utstanding borrowings from Offshore Banking Units (OBUs) Banking Units (OBUs) Offshore from borrowings utstanding reign Bonds, outstanding defence loans and foreign currency term financing facility term currency loans and foreign defence Bonds, outstanding reign ng as at 31st December 2018 was Rs. 56,662 million) was 2018 ng as at 31st December y 2012 (of which Rs. 21, 778 million matured on 01 January 2017 and the outstandind as January 2017 and the outstandind on 01 million matured which Rs. 21, 778 y 2012 (of on issued to CWE in November 2003, (matured on 14 ovember , 2016), Rs. 13,125 million , 2016), Rs. 13,125 on 14 ovember 2003, (matured in November CWE on issued to 37.5 37.5 37.1 32.8 36.4 31.6 32.3 31.7 30.9 30.0 32.4 33.7 35.4 41.5 42.6 87.9 87.9 85.0 81.4 86.1 71.6 71.1 68.7 70.8 71.3 77.7 78.3 77.4 83.4 86.8 50.3 50.3 47.9 48.5 49.7 40.0 38.8 37.0 40.0 41.3 45.3 44.5 42.0 41.9 44.1 49,015 60,679 76,308 73,881 77,879 94,743 111,292 109,167 143,898 151,132 83,307 199,801 198,633 236,609 69,021 68,665 66,499 62,304 54,653 53,460 56,599 61,597 69,993 71,470 69,101 62,727 63,267 52,312 56,041 170,463 120,931 335,357 508,201 635,703 863,928 959,918 1,138,523 1,292,173 1,615,577 2,045,344 2,746,375 3,118,663 116,713 131,509 130,009 112,292 87,709 61,961 58,386 55,518 55,518 24,088 24,088 24,088 24,088 24,088 62,469 86,459 158,805 168,079 173,877 183,845 222,994 369,215 391,083 668,458 572,199 637,886 614,219 560,226 107,329 110,687 90,528 92,160 67,869 53,400 116,017 146,429 148,463 152,031 167,545 212,879 293,504 328,005 257,732 307,012 402,600 441,032 514,442 590,885 629,070 700,137 694,767 658,240 779,581 697,154 746,887 873,943 125,062 239,128 187,430 397,661 562,854 689,163 920,527 1,021,515 1,208,516 1,363,643 1,684,678 2,108,071 2,809,642 3,170,975 978,356 1,087,359 1,261,304 1,362,806 1,461,729 1,640,117 1,846,772 1,938,909 1,904,599 2,180,388 2,361,118 2,610,547 3,149,905 885,972 1,018,852 1,281,978 1,513,512 1,643,887 1,819,251 2,095,054 2,452,360 2,844,054 3,305,248 3,714,787 3,822,620 4,140,661 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 1,103,418 1,103,418 1,326,487 1,448,734 1,760,467 2,024,583 2,329,280 2,767,299 2,960,424 3,113,116 3,544,031 4,045,796 4,718 2,582,648 3,041,685 3,588,962 4,161,422 4,590,245 5,133,365 6,000,112 6,793,249 7,390,899 8,503,227 9,387,303 10,313,045 11,977,539 13,031,5 1,479,230 1,479,230 1,715,198 2,140,228 2,400,955 2,565,662 2,804,085 3,232,813 3,832,825 4,277,783 4,959,197 5,341,507 5,594,4 (e) (d) (b) (b) Source (c ) (f)
issued to capitalise Sri Lankan Airlines in March 2013 (matured on 01 June 2018) and Rs. 78,441 million issued to CPC in Januar CPC in million issued to June 2018) and Rs. 78,441 on 01 2013 (matured Airlines in March Sri Lankan capitalise issued to January 2017 and the outstandi in partly matured was million and (Rs. 78,447 was at end 2019 is 56, 662 million Original issue Commodity Commodity Other 2.3 Treasury Bonds Treasury 2.3 Bonds (SLDBs) 2.4Development Sri Lanka Advances Bank Provisional 2.5 Central 2.6 Other Ratio GDP Debt to Government Debt Foreign Domestic Debt Debt Total 1.1 Project Loans Project 1.1 Loans 1.2 Non-project Loans Rupee 2.1 Bills Treasury 2.2 Table 11 | Composition of Government Debt Debt Government of Composition | 11 Table Debt 1. Foreign 2. Domestic Debt Total (f) agencies and o or semi-government government loans channeled through foreign arising from borrowing Includes administrative (d) Excludes outstanding Treasury Bills held by foreign investors. investors. foreign by held Policy Bills Fiscal Treasury of outstanding Provisional Department (a) Excludes (b) lending partners and bilateral with multilateral loans contracted of balance Includes outstanding (c) Sove the International investors Bills held by foreign Treasury Bonds and rupee dominated Treasury Includes rupee dominated (d) (e) Rs. 4,397 Bonds amounting to milli Treasury and includes investors Bonds held by foreign Treasury rupee dominated Excludes Source: Department of Public Debt of the Central Bank of Sri Lanka, Department of External Resources, Department of National Bu Department of Resources, External Department of Sri Lanka, Bank of the Central Public Debt of Department of Source: Statistical Appendix
350 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (a) 2019 4,592.0 ral Bank of Sri Lanka Bank of ral 444.8 486.2 512.8 535.1 520.2 530.9 531.3 527.06 505.8 (Ltr Mn)(Ltr 196.6 202.0 208.1 233.4 247.6 258.3 299.2 329.2 333.9 374.4 384.0 396.2 467.7 447.6 Item Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 (b) Tea Tea Mn) (Kg 310.8 305.2 318.7 291.0 331.0 327.5 328.4 340.2 338.0 328.9 292.6 307.7 303.8 300.1 Fish (Mt'000) 251.3 291.0 319.1 339.7 384.7 Rubber Rubber Mn) (Kg 109.2 117.6 129.2 136.9 153.0 158.2 152.0 130.4 98.6 88.5 79.1 83.1 82.6 74.8 Coconut Coconut (Nuts Mn) 2,785 2,869 2,909 2,853 2,584 2,808 2,940 2,513 2,870 3,056 3,011 2,445 2,623 3,086 Paddy (Mt'000) 3,342.0 3,131.1 3,875.0 3,652.0 4,300.6 3,894.2 3,846.0 4,620.7 3,380.7 4,819.4 4,420.1 2,383.0 3929.8 Potatoes Potatoes (Mt'000) 78.5 77.4 74.8 61.7 51.9 59.4 72.2 78.8 82.7 94.8 95.8 73.3 88.9 101.6 Sweet Potatoes Potatoes Sweet (Mt'000) 41.6 49.2 52.5 47.3 46.5 47.3 43.6 51.3 50.9 51.9 44.7 40.7 43.3 34.8 Chilies -Green (Mt'000) 52.9 48.7 51.0 46.4 49.0 44.4 61.5 71.0 71.0 62.9 72.3 51.8 79.0 62.6 Chilies -Dried (Mt'000) 12.7 12.2 12.8 11.6 12.3 10.9 15.4 17.8 17.9 15.7 18.1 13 19.8 15.1 Big Onions (Mt'000) 73.6 92.2 57.4 81.7 58.9 45.7 83.6 69.6 101.2 89.6 65.2 53.6 28.1 18.6 Red Onions Red (Mt'000) 60.7 57.0 49.3 46.2 61.8 72.3 74.0 55.6 63.1 61.2 63.7 57.7 61.1 58.2 Maize (Mt'000) 47.5 56.4 112.3 129.8 161.7 137.8 202.3 209.0 240.6 261.1 243.9 195.7 270.0 245.6 Green Gram Gram Green (Mt'000) 7.9 8.5 8.9 9.3 11.7 17.0 12.0 14.1 14.6 15.0 14.5 9.4 9.9 7.4 Black Gram Black Gram (Mt'000) 7.5 7.7 9.5 7.1 10.0 5.8 10.2 9.4 9.6 11.9 11.2 7.3 11.9 4.9 Kurakkan Kurakkan (Mt'000) 6.3 5.4 6.5 6.4 7.3 5.4 6.0 6.9 8.8 8.9 8.6 5.6 8.1 5.5 Cowpea Cowpea (Mt'000) 10.1 10.8 11.9 13.5 11.6 10.4 14.8 14.2 15.1 12.3 13.7 8.6 11.2 8.1 Soya Beans Soya (Mt'000) 5.2 4.8 3.0 3.8 7.5 3.8 1.7 13.4 10.7 11.3 9.8 14.4 2.5 2.2 Gingerly (Mt'000) 6.0 6.3 6.3 8.5 16.9 11.3 12.4 14.2 14.2 13.1 12.4 7.8 8.6 6.1 Ground Nuts Ground (Mt'000) 9.6 9.8 10.3 13.1 14.4 16.9 22.0 27.5 25.1 28.5 24.2 22.5 27.6 26.9 Sugar (Mt'000) 56.0 29.0 39.0 32.0 31.0 35.0 36.7 53.0 51.8 56.0 62.0 56.0 51.3 52.0 Coffee (Mt'000) 3.5 3.0 3.1 3.1 3.2 5.3 5.3 5.9 6.5 5.3 5.5 5.4 6.5 4.9 Cinnamon (Mt'000) 15.9 16.5 14.9 15.8 16.4 18.2 16.1 16.0 19.0 23.9 24.5 24.7 24.02 24.8 Pepper (Mt'000) 14.4 16.6 12.9 15.8 17.3 10.8 25.6 27.0 28.4 35.4 32.1 35.1 48.3 41.4 Cloves (Mt'000) 3.6 3.0 8.2 3.0 9.6 5.5 4.0 4.0 6.3 8.2 8.2 7.3 5.5 4.8 Milk Table 12 | Domestic Production of Selected Items Items Selected of 12 | Domestic Production Table Plantation Crops Seasonal Crops Other Agricultural Other Agricultural Crops Livestock and Fish Livestock (a) Provisional (a) Source: Department of Census and Statistics, Ministry of Irrigation and Agriculture, Department of Export Agriculture and Cent Agriculture Export Department of Agriculture, Irrigation and Ministry of and Statistics, Census Department of Source:
351 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
(b) 2019 – US$ Million (a) – – – – – – – – - 10 11 9 8 14 12 6 2 1 2 2 1 2 … 0.2 … 0.1 … 0.1 5.2 0.4 1.2 0.1 0.1 0.2 0.1 0.2 12.6 9.2 33.0 12.0 37.4 35.4 18.5 49.7 14.0 48.3 13.8 47.7 17 31 66.2 75.8 82.6 74.1 82.9 128.9 135.5 138.6 139.8 139.6 171.4 218.4 228 188 Category 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 (e) (c) (d) (f) Bulk 463 535 643 616 567 534 512 561 563 504 473 605 553 490 Packets 203 235 321 301 607 667 640 693 754 593 547 669 620 590 Bags 103 121 147 156 209 229 203 217 238 183 188 188 185 191 Nutmeg and Maize 6.3 7.6 9.0 8.1 16.0 28.2 23.0 31.2 29.8 33.3 39.9 35.2 29 36 Other Natural Rubber Other Natural Cloves LeavesBetel - 4 4 7 9 5 2 2.6 3 4.1 6.7 1 6.0 1 5.1 1 6.9 1 5.0 10.6 1 10.5 2 9.1 7.7 20.7 16 19 Cardamoms 0.2 0.1 0.3 0.2 0.3 0.6 0.2 0.2 0.3 1.1 5.8 5.7 1.0 0.2 Black TeaBlack 769 890 1,111 1,072 1,383 1,430 1,354 1,471 1,555 1,280 1,208 1,462 1,359 1,270 Cocoa 0.0 0.1 0.1 0.2 4.1 21.3 13.1 0.3 1.1 0.2 0.1 0.5 0.7 1.1 Other Oil Seeds Kernal ProductKernal Tobacco Unmanufactured 53 60 82 58 56 35.3 136 40.2 80 39.5 86 33.5 32.6 214 38.4 222 42.2 216 47.6 190 41.3 149 31.8 31.2 161 36.5 36 35 OtherSesame Seeds 71 81 89 108 110 130 1.3 129 0.6 119 0.4 142 1.6 130 8.9 150 0.5 158 2.5 162 10.4 168 6.2 4.7 4.4 2.0 4.9 0.1 Cashew NutsCashew 1.1 1.0 1.4 1.1 2.2 2.6 1.3 0.6 1.4 1.4 0.8 0.9 0.8 0.7 Instant 7 9 11 10 13 15 11 15 19 16 17 17 20 23 VegetablesEssential Oils 10.0 11.5 13.0 11.7 23.4 16.9 13.3 24.9 40.1 1.7 30.5 3.5 26.5 3.8 28.5 2.4 28 5.0 32 1.1 0.9 1.3 4.5 2.4 4.7 4.8 3.9 3.5 Green Tea Green 19 22 29 29 44 46 47 56 55 45 44 50 50 53 Fruits (Fresh or Dry) (Fresh Fruits Cinnamon Bark Oil 9.6 11.2 13.9 12.1 14.5 17.1 18.1 29.1 44.2 3.6 38.0 5.2 34.7 3.9 41.5 2.4 39 4.4 41 7.7 5.8 6.2 7.6 8.4 12.3 16.2 15 12 Other 86 106 118 74 – Arecanut OilClove 2.0 0.9 3.4 1.4 2.2 2.5 3.7 15.9 0.2 63.6 0.3 67.5 0.3 34.1 0.1 37.7 0.4 18 0.4 21 0.3 0.3 0.2 0.4 0.4 0.6 0.8 0.6 Coffee CropsAgricultural Other Minor 0.2 0.1 0.2 0.1 24.7 0.3 4.2 0.1 5.8 27.6 0.1 52.4 0.1 38.4 0.2 28.7 0.2 33.5 0.1 32.9 34.1 0.2 24.5 0.3 24.6 0.4 26 28 Crepe Rubber Crepe - 49 51 30 73 116 64 47 35 23 26 23 24 16 Pepper 17.1 31.7 26.2 20.6 42.7 32.1 70.2 128.3 72.4 149.0 76.4 88.0 78 50 Smoked Sheets Smoked - 36 42 42 69 63 38 14 4 2 3 6 2 3 Cinnamon Natural Rubber Latex Rubber Natural - 10 17 11 15 8 8 2 2 0 2 8 3 1 Food, Beverages and Tobacco and Beverages Food, 232 323 244 183 245 348 284 235 289 307 324 393 462 447 TSNR Milling Industry Products 52 48 62 40 71 142 90 37 43 31 26 29 30 43 Vegetable, Fruit and Nut Preparations and Nut Fruit Vegetable, 15 29 49 55 51 61 59 63 80 87 100 129 147 143 Cereal PreparationsCereal 5 7 11 9 11 19 20 25 22 21 19 20 20 19 Fish Preparations 1 1 1 1 1 … … 1 1 0 0 1 10 19 Manufactured Tobacco Manufactured 16 23 28 24 26 41 47 49 56 58 73 73 93 78 Tea 882 1,027 1,272 1,185 1,441 1,491 1,412 1,542 1,628 1,340 1,269 1,530 1,429 1,346 Coconut 124 141 171 166 166 266 209 205 356 352 366 348 311 330 Other Agricultural ExportsAgricultural Other 195 208 243 215 335 379 388 529 511 600 489 610 542 499 Rubber 93 109 125 99 173 206 125 71 45 26 33 39 32 24 Seafood 129.9 162.5 164.6 170.6 192.3 185.3 198.0 233.7 252.7 163.1 169.6 240.6 266 263 Table 13 | Value of Exports of Value 13 | Table ExportsAgricultural 1,423 1,647 1,976 1,835 2,306 2,528 2,332 2,581 2,794 2,481 2,326 2,767 2,579 2,462 Industrial Exports 5,402 5,937 6,112 5,228 6,097 7,992 7,371 7,749 8,262 8,017 7,940 8,541 9,258 9,426 Statistical Appendix
352 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (b) 2019 US$ Million (a) 22 24 21 22 19 20 18 15 17 199 7 10 12 15 20 15 17 18 18 – Category 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Road Vehicles Road 20 23 39 50 58 49 86 32 39 40 42 39 57 54 Ships, Boats and Floating Structures 8 37 22 58 59 149 57 82 86 182 65 97 27 65 Other 111 91 48 20 28 27 22 33 27 22 25 27 37 26 Bunkers and Aviation FuelAviation and Bunkers 181 168 253 133 259 524 457 423 327 364 271 404 559 485 Other Petroleum ProductsOther Petroleum 7 2 2 2 4 28 6 5 11 10 16 30 63 36 Tiles 11 11 12 8 8 6 7 8 9 8 7 7 6 5 Tableware, Household Items and Sanitary ware and Sanitary Household Items Tableware, 32 30 30 24 27 28 25 29 29 25 23 23 21 21 Other 5 5 7 4 5 5 4 3 3 3 4 4 4 4 Rubber Tyres Rubber 295 309 337 213 336 569 540 551 564 467 476 510 545 512 Surgical Gloves and Other Gloves Gloves Surgical 105 111 117 114 137 181 177 195 176 165 176 198 188 207 Other Rubber ProductsOther Rubber 50 64 88 58 85 135 143 141 150 130 116 128 143 147 Footwear 19 24 22 17 20 17 12 29 87 86 118 108 89 52 Travel GoodsTravel 13 26 23 20 27 31 27 28 31 29 29 33 35 35 Other 94 10 12 10 13 17 16 19 21 21 19 17 23 16 Gems 86 105 76 69 70 95 118 130 173 164 149 145 142 155 Diamonds 312 348 418 317 322 414 417 295 198 148 105 94 120 134 Jewellery 16 22 20 17 17 Other 142 215 93 54 85 85 67 61 88 109 105 141 162 145 Garments 2,917 3,144 3,284 3,120 3,178 3,986 3,784 4,265 4,682 4,556 4,603 4,739 4,961 5,206 Woven FabricsWoven 46 61 66 55 70 85 92 124 90 102 107 119 148 162 Yarn 24 45 44 42 50 57 58 58 68 63 70 69 83 92 Other Made Up Textile Articles Textile Other Made Up 96 86 84 44 57 64 56 61 90 100 105 104 126 137 Chemical Products 65 78 71 74 93 118 117 120 134 126 126 146 167 176 Transport Equipment Equipment Transport 138 151 108 127 144 225 165 146 152 244 131 162 120 146 Textile and GarmentsTextile 3,084 3,337 3,478 3,261 3,356 4,191 3,991 4,508 4,930 4,820 4,884 5,032 5,318 5,596 Printing Industry Products 15 34 47 48 246 235 42 36 52 46 42 49 32 48 Other Industrial ExportsOther Industrial 311 487 497 418 517 608 619 633 694 669 712 816 937 963 Petroleum ProductsPetroleum 188 170 255 134 263 553 463 428 338 374 287 434 622 521 Ceramic ProductsCeramic 47 47 49 36 40 38 36 40 41 35 34 34 31 30 Rubber ProductsRubber 450 483 542 385 558 885 860 888 890 761 768 835 875 866 Leather, Travel Goods and FootwearTravel Leather, 127 60 56 47 60 65 55 77 139 136 166 158 148 103 Machinery and Mechanical AppliancesMachinery and Mechanical 396 371 322 187 259 312 297 312 343 294 318 371 435 400 Gems, Diamonds and JewelleryGems, Diamonds and 414 474 514 402 409 532 559 446 394 332 274 257 278 306 Table 13 | Value of Exports of Value 13 | Table Mineral ExportsMineral 17 22 22 20 24 33 61 52 59 28 29 34 34 34 Unclassified Exports 42 38 – Total ExportsTotal 6,883 7,641 8,111 7,085 8,626 10,559 9,774 10,394 11,130 10,547 10,310 11,360 11,890 11,940 Source: Department of Customs, Central Bank of Sri Lanka Sri Lanka Bank of Central Customs, Department of Source: Revised (a) Provisional (b) Includes Cinnamon Oil (c) Oil ) Includes Clove (d Seeds and Oil Includes Soya beans, Mustard (e) Rubber Specified Natural (f)Technically … negligible
353 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (a) US$ Million 277 530 509 538 632 882 941 948 880 805 36.3 32.9 29.8 18.3 20.7 33.0 35.4 33.2 34.0 52.8 28.9 24.3 20.4 26.4 (b) Category 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Value of Imports of Value | Printed Books Printed Fans PreparationsWashing Makeup Powders, 7.4 4.8 7.5 5.0 4.3 9.7 4.4 4.2 6.1 11.0 21.5 6.2 7.5 10.6 19.8 4.8 7.1 15.0 6.0 5.6 14.1 7.0 6.0 10.7 11.9 12.3 5.6 10.4 6.8 23.1 4.3 10.7 23.4 8.1 4.0 13.0 27.4 6.7 5.0 17.3 24.4 9.0 18.4 4.4 33.5 13.5 41.8 14.6 2.7 12.5 34.9 3.0 12.5 29.5 10.6 33.5 Garments Plastics Articles of Other 81.5 85.9 89.1 98.9 94.4 112.0 131.9 157.6 227.0 321.4 290.9 292.3 237.3 215.1 PotatoesChiliesOnionsLentils GramGreen PeasChick PeasKurakkanOil and FatSpicesOther 10.4 20.0 26.3 23.6 28.0 36.9 23.0 3.8 57.0 37.6 41.3 36.9 53.0 59.6 42.5 7.4 35.7 108.0 60.0 6.3 44.2 11.0 22.7 113.0 96.0 6.3 82.4 129.0 10.7 9.8 0.2 28.5 86.0 14.0 10.0 46.4 116.8 15.6 35.8 17.3 0.3 51.9 21.0 18.8 49.3 68.9 35.5 13.8 100.1 35.0 17.7 31.0 12.9 0.6 104.1 59.6 65.3 31.5 50.0 17.8 14.0 121.2 7.3 14.9 47.7 0.6 77.3 122.0 64.0 35.7 148.0 26.9 44.7 100.0 19.0 18.5 11.2 92.7 139.4 0.6 65.0 32.6 123.0 25.6 68.8 25.9 19.0 13.6 114.4 51.8 108.9 72.0 20.5 0.6 20.0 33.9 47.4 27.2 19.9 68.7 78.6 111.0 124.3 20.0 59.2 0.4 15.6 21.8 68.0 79.9 23.7 82.9 20.1 14.9 31.8 79.9 … 30.1 33.5 99.3 25.6 98.2 13.8 158.7 32.7 35.9 0.2 113.3 23.0 134.1 26.0 12.2 46.0 132.0 25.2 0.1 157.9 20.5 47.0 92.8 156.7 23.8 0.6 114.0 183.2 29.4 216.0 115.4 1.3 203.1 0.8 161.3 1.7 SugarMilk and ProductsRiceFlourFish 171 186 288 224 165 151 259 203 345 6 3 218 307 39 92 363 291 2 108 44 426 339 115 345 23 1 251 289 119 249 59 1 255 128 316 18 253 147 1 332 343 24 134 14 312 256 18 162 248 5 282 141 200 135 218 2 234 13 2 214 301 197 2 107 215 2 13 2 3.0 3 Food and BeveragesFood and BeveragesOther Food 711 802 1,089 933 1,256 216 1,567 1,304 317 1,368 Non-food Consumables 437 1,634 1,627 407 1,627 446 1,841 1,606 617 1,427 489 607 614 768 787 840 752 862 719 918 685 632 1,154 2,087 1,691 1,814 2,219 3,086 2,692 2,662 3,374 2,530 Table 14 Table GoodsConsumer 1,551 1,664 2,007 1,565 2,410 3,654 2,995 3,182 3,853 4,713 4,319 4,503 4,980 3,957 Vehicles SetsTelevision and Home appliances-Radio Products Rubber Products Medical and Pharmaceutical Items Household and Furniture 65 Other 59 64 162 24 179 212 45 69 202 118 70 308 42 217 118 244 75 348 44 103 239 372 61 51 86 93 378 88 120 46 455 381 127 194 136 72 881 460 266 117 141 526 495 83 277 125 124 520 582 80 206 134 532 897 102 88 1,360 150 553 795 90 182 773 186 114 1,574 169 112 816 94 172 95 83 Statistical Appendix
354 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 0 (a) 11,370 11,370 US$ Million 12,488 11,398 9,638 9,869 11,435 10,554 10,554 ary articles 4 4 5 6 5 6 8 8 6 8 10,253 10,253 11,296 14,091 10,207 13,385 20,269 19,190 18,003 19,417 18,935 19,183 20,980 22,233 19,937 Category 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Value of Imports of Value Semi Finished Products of Iron of Semi Finished Products Ethyline of Polymer Tobacco Unmanufactured Oil (Refined)Palm 78 105 137 32 82 72 40 106 91 42 131 103 157 145 39 76 256 127 103 31 238 35 109 168 52 68 99 151 71 161 106 n.a 62 142 67 n.a 70 147 n.a 81 83 144 123 n.a 68 134 111 149 68 84 126 79 148 62 146 93 Recorders and Primary Batteries Recorders – Used Appliance Medical Instrument and Cables (Electrical) Wire 56 Industries) Gas Cylinders (For 60 49 73 119 Tube Pipe & Iron 124 54 107 4 19 63 87 7 81 5 124 87 13 6 138 92 152 11 3 104 n.a. 38 6 117 85 17 33 137 12 93 17 32 n.a. n.a 126 n.a n.a. 34 n.a 88 n.a n.a. 33 n.a 108 n.a. n.a 37 85 n.a. 31 n.a 84 n.a n.a 70 n.a n.a 56 n.a 70 79 103 115 132 | Cookers 3.6 3.5 3.8 3.7 5.0 9.4 6.4 6.8 5.7 9.2 11.6 10.8 10.0 8.5 Fertilizer Petroleum Chemical Products Boards and Paper Paper Wheat and Maize Textile Metals Diamond and Presious Base Metal Parts and Machinery Vehicle Goods Other Intermediate 254 357 290 2,070 163 257 405 2,516 328 192 3,392 284 508 217 Machinery and Equipment 264 2,184 577 545 432 255 121 3,041 350 4,795 520 402 182 277 864 127 5,045 427 1,656 702 240 269 4,308 378 938 159 4,597 363 1,724 1,045 1,076 265 407 670 298 2,700 1,788 127 380 588 728 2,481 429 734 252 1,529 311 1,033 3,428 176 490 483 1,812 808 364 275 1,540 4,152 239 2,321 223 477 1,320 175 3,892 1,341 870 323 2,266 167 272 1,425 2,046 1,428 211 487 162 856 405 239 290 1,616 2,328 1,467 485 210 2,296 1,752 835 514 357 1,077 354 137 2,705 1,703 529 228 1,339 904 2,724 249 772 440 1,809 103 2,141 2,859 264 1,857 457 357 2,356 832 573 406 2,909 262 2,222 1,678 281 374 478 201 2,131 221 295 2,278 471 346 2,741 296 456 2,621 2,492 270 629 2,49 683 563 Transport EquipmentTransport Building Material Goods Other Investment 405 410 651 481 3 753 357 6 900 593 1,065 656 4 992 822 1,076 668 3 1,237 707 1,357 1,309 931 1,352 663 1,569 1,591 675 1,525 668 1,509 597 Investment GoodsInvestment 2,400 2,597 2,852 2,093 2,758 4,286 4,590 4,253 4,152 4,567 4,981 4,895 4,690 4,603 Unclassified Imports Imports Total 48 52 213 390 162 54 28 14 14 16 13 147 75 8 Intermediate GoodsIntermediate 6,257 6,983 9,019 6,159 8,054 12,274 11,578 Table 14 Table Source: Department of Customs, Central Bank of Sri Lanka Sri Lanka Bank of Central Customs, Department of Source: Provisional (a) articles, plastic clothing articles and station plastic ornamental plastic furniture, Includes Plastic kitchenware, (b)
355 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (a) MT’000 2019 … – … … – … … … 0.3 0.05 Item 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Import Quantities of Selected Items Items Selected Import Quantities of | Melon 0.1 0.1 0.1 0.1 Mandarin 6.1 3.7 5.3 7.4 10.9 10.5 10.6 9.5 7.1 8.9 10.6 6.0 11.0 n.a Orange 5.0 3.3 3.6 4.3 4.5 7.0 6.0 7.6 6.5 7.5 8.1 8.7 8.4 7.8 Grapes 3.5 3.4 3.7 3.4 4.3 6.9 6.6 6.2 3.8 6.9 6.2 7.3 10 7.2 Apples 16.6 18.0 17.2 20.1 22.4 21.2 21.1 20.1 15.9 20.2 25.3 26.7 27.3 23.4 Garlic 18.4 20.9 25.0 21.2 20.4 23.8 23.1 24.4 27.0 28.2 26.0 27.5 32.9 31.8 Tamarind 0.1 0.1 0.1 0.1 0.9 0.7 … … … 1.1 0.1 0.4 0.5 0.03 Turmeric (Powder)Turmeric 0.4 0.3 0.3 0.3 0.3 0.2 … … … … 1.0 12.0 25.0 18.0 Turmeric 3.4 3.3 4.4 3.9 3.9 4.1 3.8 4.1 4.2 4.9 4.7 4.9 5.4 5.3 Coriander 11.0 14.8 9.7 10.9 12.1 13.3 10.1 15.3 13.8 12.3 15.0 12.2 18.0 13.3 Soya BeanSoya 0.2 … 2.4 1.8 1.6 … 0.1 1.1 … 7.3 7.1 3.2 6.4 8.1 Cowpea 0.3 0.6 0.7 0.4 0.6 0.9 0.7 1.1 1.0 5.6 6.1 7.3 8.1 8.5 Kurakkan 1.9 2.6 2.9 3.3 2.1 2.2 3.6 12.0 0.7 0.8 2.2 2.9 3.1 4.0 Chick Peas 18.5 14.7 17.2 20.0 19.1 19.9 18.7 25.3 25.7 27.7 27.0 26.5 27.3 25.6 Peas 25.2 26.9 27.2 26.7 33.0 36.1 31.9 30.8 35.9 45.4 35.6 36.7 47.8 39.4 Black Gram 6.2 7.1 5.0 3.3 1.5 7.1 3.2 4.2 6.3 8.1 12.0 12.8 12.4 7.7 Green GramGreen 11.5 12.8 13.7 14.2 11.5 10.5 7.9 7.1 5.2 11.5 13.9 15.5 16.4 13.3 Maize 83.7 78.4 82.5 27.2 9.6 7.0 1.0 0.5 86.8 67.2 41.9 179.6 120.6 102.5 Rice 11.5 88.0 84.7 51.7 125.8 27.8 36.2 22.9 599.7 285.6 29.5 748.0 248.9 24 Dhal 107.7 103.2 104.9 108.0 134.3 151.3 114.0 150.9 153.4 160.9 154.3 165.9 162.6 176.9 Coconut OilCoconut 4.9 5.5 15.6 2.4 3.5 3.6 5.2 2.2 3.9 3.4 1.2 0.9 9.9 1.5 Red OnionsRed 10.9 23.8 26.9 16.2 11.9 6.8 7.0 15.4 11.8 15.2 19.8 10.9 15.3 6.0 Palm OilPalm 297.1 205.6 126.8 49.7 74.3 135.5 51.1 45.3 142.0 161.8 120.5 195.3 217.7 156 Big Onions 119.5 140.7 146.6 143.2 158.1 170.7 145.9 168.9 150.5 210.3 215.6 232.3 246.2 240.1 Other Dry Fish 21.6 22.7 22.1 20.1 18.5 19.6 14.2 14.0 10.0 7.9 9.8 9.1 4.2 4.9 Chilies – Red 29.4 31.2 34.7 36.0 37.7 42.2 40.7 44.1 47.8 49.9 51.0 51.7 52.8 52.6 Sprats 23.2 25.4 22.8 25.4 27.3 27.6 25.2 23.5 24.9 24.6 24.5 22.8 23.2 24.8 Potatoes 46.6 85.9 99.4 99.6 129.9 130.5 112.8 123.2 118.2 142.2 148.1 151.4 158.7 142.1 Maldive FishMaldive 5.6 3.6 3.1 3.2 2.9 2.8 1.4 1.4 1.3 2.2 2.7 2.7 2.3 2.5 Milk Powder 68.1 62.1 62.5 62.4 72.4 84.1 79.5 66.0 67.2 81.8 94.0 93.1 99.0 93.7 Canned Fish 19.7 23.1 18.2 13.6 16.7 20.7 19.6 22.2 19.7 49 37.1 40.6 28.1 36.8 Table 15 Table Sugar 520.6 470.7 563.1 460.7 539.2 596.6 559.0 539.0 509.5 624.0 638.7 483.2 624.3 537.5 Source: Department of Customs, Department of Census and Statistics and Central Bank of Sri Lanka Bank of and Statistics Central Census Department of Customs, Department of Source: … negligible Provisional (a) Statistical Appendix
356 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (a) US$ Million …0.4 … … 0.2 0.1 0.1 3.8 2.8 2.1 2.7 3.5 2.0 3.7 3.1 ... … - … 0.4 0.6 0.2 0.2 Item 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Mandarin 1.2 0.8 1.2 2.1 3.2 3.3 Orange 1.8 1.4 1.6 2.0 2.3 3.7 4.0 5.2 4.7 4.6 5.9 6.0 5.8 5.3 Grapes 3.7 3.7 4.0 4.4 5.6 6.8 10.5 11.2 8.4 13.4 15.9 15.0 15.0 14.0 Apples 5.2 5.7 5.4 7.7 9.6 9.7 14.4 19.8 17.2 18.3 24.0 24.0 26.5 22.6 Garlic 6.0 8.2 6.4 9.9 31.2 22.0 19.1 18.0 18.2 25.5 44.3 36.0 20.0 35.3 Tamarind ...... 0.2 0.2 – Turmeric (Powder)Turmeric 0.1 0.1 0.2 0.5 0.6 0.2 ... … … … … … …. ….. Turmeric 1.1 1.1 2.7 4.2 8.2 7.0 3.7 4.6 4.6 6.5 7.1 7.0 7.2 6.4 Coriander 3.2 6.6 10.9 9.5 9.5 9.9 6.5 14.8 19.2 14.0 10.0 6.0 10.8 11.8 Soya BeanSoya 0.6 ... 0.9 0.7 0.8 ... 0.1 … … 3.4 3.0 8.0 2.8 3.7 Cowpea 0.1 0.1 0.4 0.3 ... 0.7 0.6 0.9 0.9 4.1 4.5 6.5 6.2 6.0 Kurakkan 0.2 0.3 0.6 0.6 0.6 0.6 0.4 … 0.2 0.1 0.6 1.0 0.8 1.7 Chick Peas 6.3 9.8 17.3 17.7 17.8 26.9 25.6 20.5 20.0 23.7 30.1 33.0 26.0 20.5 Peas 6.3 10.0 18.8 12.9 14.9 18.5 19.0 19.9 20.4 31.8 25.6 23.0 25.2 23.8 Black Gram 1.6 2.2 2.5 2.7 1.7 7.2 3.0 3.5 6.9 11.3 22.4 13.0 8.4 6.6 Green GramGreen 3.8 7.4 11.0 10.7 15.6 13.8 7.3 7.6 6.8 15.0 15.6 15.0 13.8 12.2 Maize 15.7 18.7 22.8 0.6 2.5 2.3 0.4 0.3 23.9 16.1 10.8 53.0 39.4 34.8 Rice 5.5 38.7 44.3 22.9 59.0 18.4 24.2 17.9 281.7 135.1 12.8 300.9 106.8 12.8 Dhal 37.6 59.6 108.0 113.0 129.0 116.8 68.9 104.1 121.2 148.0 139.4 114.4 78.6 79.9 Coconut OilCoconut 3.0 4.9 13.4 1.8 3.6 6.6 4.8 2.2 0.2 5.8 3.7 16.0 20.1 4.7 Red OnionsRed 3.6 8.6 14.6 9.4 5.7 4.2 3.0 10.7 5.0 8.8 9.0 8.0 9.3 4.2 Palm OilPalm 131.0 145.3 127.4 35.3 68.1 160.6 67.2 81.4 123.0 103.5 84.1 148.0 146.2 92.5 Big Onions 18.7 39.7 32.1 40.8 58.8 59.3 29.5 71.1 42.0 79.8 46.7 79.0 79.4 84.6 Other Dry Fish 27.8 27.4 31.2 37.0 32.0 36.8 30.0 25.3 18.1 15.4 22.5 25.0 26.4 29.6 Chilies – Red 26.3 36.9 41.3 42.5 44.2 82.4 46.4 49.3 59.6 77.3 92.7 52.0 68.7 82.9 Sprats 25.2 29.1 26.5 31.4 35.1 39.1 40.0 55.2 44.9 49.1 62.1 59.0 58.2 53.3 Potatoes 10.4 20.0 23.6 23.0 36.9 35.7 22.7 28.4 35.8 35.5 31.5 36.0 32.6 33.9 Maldive FishMaldive 8.5 5.9 8.1 14.1 11.5 12.3 7.5 6.6 5.0 11.4 13.7 11.0 9.4 9.3 Flour 3.0 2.0 1.0 1.0 1.0 14.0 4.9 1.8 2.1 2.0 1.8 2.0 3.0 2.7 Canned Fish 27.0 34.8 39.4 32.1 38.6 50.7 43.6 47.5 39.5 81.9 66.2 63.0 53.3 76.6 Milk Powder and Milk ProductsMilk Powder 171.0 186.0 288.0 165.0 259.0 345.0 307.0 291.0 339.4 250.9 249.3 315.8 332.3 311.9 Melon 0.2 0.2 0.2 0.2 ... – Table 16 | Value of Food Imports Imports Food of Value | 16 Table Sugar 223.7 151.0 203.0 218.0 363.0 426.0 345.0 288.9 255.5 252.5 342.5 256.0 248.0 199.7 Source: Department of Customs, Department of Census and Statistics and Central Bank of Sri Lanka Bank of and Central and Statistics Census Department of Customs, Department of Source: … negligible Provisional (a)
357 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 9 59 (a) 303 490 ,459 7,017 5,696 2 875,864 875,864 2 38 72,108 9,763 284,301 9,763 354,998 266,659 656 1,975 656 25,077 25,077 18,591 656 1,319 2 9,371 5,223 9,371 2 24 1,159,587 1,159,587 1,175,077 24 122 7,727,921 8,095,224 7,727,921 122 630 425,561 425,561 439,020 630 62,445 369,905 369,905 375,601 62,445 – 6 642 1,644 – 0 4,044,010 4,383,773 0 4,668,074 – – – – – – – – – – – – 18,450 10,772 7,070 9,977 10,285 8,821 7,460 – – – 20,073 – – – 296,692 311,510 323,776 329,648 334,769 341,911 347,182 360,906 370,277 375,500 – – – – – – – – – – – – Item 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Land Vehicles – Tractors – Vehicles Land 199,980 221,326 245,683 259,634 276,997 297,070 315,520 326,292 333,362 343,339 353,624 3 Land Vehicles – Trailers – Vehicles Land 38,919 41,048 42,823 44,156 46,457 49,578 53,020 55,286 57,298 59,426 63,088 67,316 70,1 Quadricycle & Motor Home & Motor Quadricycle – Motor Cars Motor 338,608 361,211 381,448 387,210 410,282 468,168 499,714 528,094 566,874 672,502 717,674 756,856 837,63 Three Wheelers Three 318,659 361,727 406,531 443,895 529,543 667,969 766,784 850,457 929,495 1,059,042 1,115,987 1,139,5 Motor Cycles Motor 1,422,140 1,604,648 1,760,600 1,896,021 2,100,832 2,354,163 2,546,447 2,715,727 2,988,612 3,359,501 3,699,63 Buses 77,233 79,870 81,050 81,789 84,280 88,528 91,623 93,428 97,279 101,419 104,104 107,435 110,392 112,005 Dual Purpose Vehicles Dual Purpose 188,187 193,380 196,236 197,516 209,228 242,746 280,143 304,746 325,545 365,001 391,888 408, Goods Transport Vehicles – LorriesVehicles Transport Goods 244,176 262,584 276,622 284,847 Motor Bicycles Motor 209,635 177,193 153,191 117,913 221,832 252,036 186,372 159,791 322,257 349,523 329,978 364,346 Three-Wheelers 50,310 34,485 44,046 30,356 92,207 137,389 93,284 80,586 83,233 132,779 47,976 19,021 20,782 1 Tractors 23,120 23,629 28,181 12,874 18,617 26,870 18,967 13,247 5,511 14,234 13,185 10,295 6,992 5,132 Transport Vehicles (goods)Vehicles Transport 22,987 36,084 13,742 5,639 20,655 55,786 45,560 25,655 25,664 44,287 32,161 25,964 Passenger Vans and BusesVans Passenger 3,025 2,094 1,117 649 2,766 3,836 3,245 1,627 3,906 4,690 2,849 3,732 2,581 1,458 Motor Cars Motor 28,464 22,315 17,273 1,852 26,745 56,370 26,312 27,084 41,030 109,059 42,208 36,125 82,627 33,08 Quadricycle – Other 152 490 694 210 277 769 435 408 402 514 948 772 789 469 New Registration of Motor Vehicles Vehicles Motor of Registration New Total 300,522 297,892 265,199 204,075 359,243 525,421 397,295 326,651 429,556 668,907 491,036 451,653 480,799 367, Motor Cars Motor 27,578 22,603 20,237 5,762 23,072 57,886 31,546 28,380 38,780 105,628 45,172 39,182 80,776 38,232 Three Wheelers Three 64,466 43,068 44,804 37,364 85,648 138,426 98,815 83,673 79,038 129,547 56,945 23,537 20,063 15, Motor Cycles Motor 156,626 182,508 155,952 135,421 204,811 253,331 192,284 169,280 272,885 370,889 340,129 344,380 33 Buses 3,346 2,637 1,180 739 2,491 4,248 3,095 1,805 3,851 4,140 2,685 3,331 2,957 1,613 Dual Purpose Vehicles Dual Purpose 7,245 5,193 2,856 1,280 11,712 33,518 37,397 24,603 20,799 39,456 26,887 16,742 16,931 13 Goods Transport Vehicles – LorriesVehicles Transport Goods 20,436 18,408 14,038 8,225 11,845 14,818 12,266 5,872 5,121 7,142 5,271 11,43 Land Vehicles – Tractors – Vehicles Land 19,040 21,346 24,357 13,951 17,363 Land Vehicles – Trailers – Vehicles Land 1,785 2,129 1,775 1,333 2,301 3,121 3,442 2,266 2,012 2,128 3,662 4,228 2,822 1,970 Quadricycle & Motor Home & Motor Quadricycle – Total Vehicle Fleet * Vehicle Total Total 2,827,902 3,125,794 3,390,993 3,595,068 3,954,311 4,479,732 4,877,027 5,203,678 5,633,234 6,302,141 6,793,177 7,247, Table 17 | Motor Vehicles Vehicles Motor | 17 Table Imports Vehicle Motor Total 337,693 296,290 258,244 169,493 383,099 533,056 374,175 308,398 482,003 655,086 469,305 460,261 494,488 344,0 Sources: Department of Customs and Department of Motor Traffic, Department of Census and Statistics Census Department of Traffic, Motor and Department of Customs Department of Sources: Provisional (a) in Sri Lanka registered vehicles all number of * Cumilative Statistical Appendix
358 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (b) 300 300 300 900 900 900 900 900 900 – – – – 78.1 78.1 80.0 83.0 85.4 88.0 91.0 94.0 96.0 98.0 99.0 99.3 99.0 99.0 99.0 9.01 9.01 10.56 13.17 13.10 13.03 13.21 15.56 17.93 18.50 15.93 16.18 16.26 16.29 16.63 1,893 1,842 1,922 1,868 1,955 2,163 2,146 2,164 2,152 2,283 2,453 2,523 2,616 2,669 10.93 10.93 13.48 17.67 14.93 13.03 15.59 23.66 16.94 19.97 15.06 18.10 20.34 19.13 23.29 7,832 7,832 8,276 8,417 8,441 9,268 10,023 10,474 10,621 11,063 11,786 12,785 13,431 14,091 14,611 9,389 9,389 9,814 9,901 9,882 10,714 11,528 11,800 11,898 12,357 13,090 14,149 14,671 15,374 15,881 2,434 2,444 2,645 2,684 2,818 3,146 3,312 3,356 3,932 3,847 4,018 4,086 4,046 4,217 3,698 3,811 3,995 4,158 4,327 4,611 4,979 5,211 5,418 5,649 5,964 6,193 6,354 6,501 % Rs Rs MW MW 000' GWh GWh Item Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 (a) 2019 Power Sector Sector Power | Hydro Power Hydro 1,314 1,324 1,345 1,379 1,383 1,401 1,584 1,625 1,665 1,680 1,726 1,745 1,793 1,809 Thermal 1,115 1,115 1,285 1,290 1,390 1,396 1,338 1,335 1,215 1,115 1,215 1,233 1,137 1,282 Coal – Wind* 3 3 3 3 3 3 3 3 3 3 3 3 128 128 Other 2 2 12 12 42 46 87 93 150 149 174 205 88 98 Table 18 Table Installed Capacity Maximum Demand Total sales by CEB sales by Total Generation **Generation Average Electricity Price Average Average Cost of Electricity of Cost Average Access to Electricity to Access Access to Electricity to Access Source: Ceylon Electricity Board Ceylon Source: Revised (a) Provisional (b) under CEB only installed *Wind capacity ** considered Net Generation 2000–2004 plants from Thermal includes hired of capacity Installed Note:
359 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (a) 95 95 121 161 170 170 170 170 218 – – – – – – 7 – 28 – 19 7 – 23 36 18 11 10 24 41 17 16 27 11 37 13 23 23 11 33 10 24 29 11 26 10 29 36 18 17 8 27 20 27 13 27 28 14 9 16 35 29 22 9 16 36 30 20 10 11 n.a n.a 15 13 10 39 26 n.a 11 n.a n.a 9 10 16 – 1.72 1.72 1.73 1.73 1.73 1.74 1.75 1.76 1.76 1.78 1.77 1.80 1.82 1.82 1.53 1.29 1.30 1.30 1.30 1.30 1.30 1.30 1.30 1.30 1.31 1.33 1.34 1.34 1.34 0.18 0.18 0.18 0.18 0.18 0.18 0.18 0.19 0.19 0.19 0.19 0.19 0.19 0.19 0.19 0.25 0.25 0.25 0.25 0.25 0.26 0.27 0.27 0.27 0.29 0.28 0.28 0.29 0.29 n.a 4,219 4,219 4,219 4,219 4,219 4,219 4,219 4,219 4,215 4,215 4,215 4,215 4,215 4,215 7,554 7,554 7,655 7,672 7,703 7,800 7,800 7,944 7,949 7,993 7,995 7,995 7,995 8,005 8,005 11,773 11,773 11,874 11,891 11,922 12,019 12,019 12,258 12,289 12,369 12,380 12,380 12,380 12,390 12,438 16,532 16,532 16,532 16,532 16,532 16,973 17,429 17,614 17,614 19,083 18,397 18,353 18,900 18,900 n.a 84,659 85,100 85,150 85,220 85,280 85,320 85,400 85,480 85,560 85,630 87,326 88,200 88,200 88,200 112,964 112,964 113,506 113,573 113,674 114,272 114,768 115,272 115,383 117,012 116,407 118,059 119,480 119,490 100,638
% % % % % km Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 km/km2 Item Class A Class Class B Expressways National Roads Roads Provincial Roads Rural Density National Roads Density Roads Provincial Density Roads Rural Excellent Good Fair Poor Bad Table 19 | Roads Table Length Road Total Density Roads Total as per IRI* National Roads of Condition Road Source: Road Development Authority and Department of National Planning and Department of Authority Development Road Source: Index Roughness *IRI = International Provisional (a) Statistical Appendix
360 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (a) 2019 – 44 540 1,213 1,504 1,769 2,041 2,296 – 57 687 1,562 2,003 2,388 2,676 2,893 9 34 139 335 295 281 15 230 20 270 314 119 474 292 355 213 494 1,239 – – 49 50 48 68 59 53 45 37 38 n.a – 136 8 26 – 44 48 246 34 11 32 25 28 63 60 59 49 – 11 21 32 27 23 18 3 – – – – – – – – – – – – – – – – – – – – – – – – 56 – 463 1,002 – 1,257 1,258 – 1,245 1,233 – 745 8,648 20,157 25,511 – 30,411 33,893 37,089 141 141 297 322 310 109 126 161 134 127 164 216 233 189 142 615 615 577 553 513 500 433 391 378 373 355 348 351 362 384 735 627 459 167 318 464 422 207 394 542 771 712 729 510 100 87 68 32 48 73 69 36 60 72 96 87 84 43 663 620 614 591 598 466 436 426 419 417 402 401 400 400 1,744 1,744 1,835 1,961 1,714 2,167 2,299 2,317 2,502 2,559 2,252 2,100 2,011 2,304 2,283 1,297 1,297 1,412 1,517 1,301 1,604 1,652 1,652 1,825 1,916 1,711 1,617 1,623 1,976 2,008 1,335 1,546 1,726 1,750 1,970 1,963 1,870 1,747 1,662 1,371 1,632 1,810 2,067 2,052 3,160 3,160 3,114 3,151 2,939 2,928 3,040 2,750 2,600 2,424 2,169 2,061 1,998 1,934 1,949 1,033 1,033 1,166 1,357 1,411 1,601 1,564 1,515 1,405 1,325 1,043 1,314 1,434 1,687 1,651 1,068 1,068 1,212 1,273 1,175 982 1,084 1,120 1,011 855 1,026 1,087 1,073 1,152 1,016 2,498 2,215 2,163 2,238 2,154 2,574 2,859 2,435 2,748 3,027 3,514 3,897 3,560 3,304 4,228 4,326 4,424 4,114 3,910 4,124 3,870 3,667 3,742 4,197 4,405 4,329 4,331 4,198 11,843 14,517 17,036 19,092 24,993 25,997 24,802 23,551 22,148 16,893 21,196 23,622 27,042 26,515 12,382 12,470 12,548 12,263 11,681 10,059 9,325 9,014 8,747 8,725 8,856 8,625 8,948 8,975 27,585 27,585 28,985 30,924 27,281 33,775 36,019 36,867 39,186 39,998 36,668 35,172 35,001 39,216 38,322 39,428 39,428 43,502 47,960 46,373 58,768 62,016 61,669 63,482 70,794 73,718 81,879 89,034 100,151 101,926 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 No. 4,469 4,710 4,814 4,592 4,075 4,358 4,178 4,024 4,298 4,760 5,023 4,942 4,933 4,708 No. 13,660 13,667 13,715 13,367 12,828 11,008 10,200 9,886 9,598 9,550 9,651 9,414 9,748 9,759 Unit Rs Mn 23,004 25,913 25,142 23,331 28,279 31,086 38,098 37,232 37,492 40,805 44,080 43,963 52,283 54,636 MT '000MT 42,661 46,344 50,582 48,778 61,240 65,097 65,030 66,292 74,431 77,611 86,546 93,879 104,952 106,982 TEUs '000 3,079 3,381 3,687 3,464 TEUs '000 4,137 2,330 4,263 2,578 4,187 2,874 4,306 2,712 4,908 3,205 5,185 3,216 5,735 3,167 6,209 3,274 7,047 3,781 7,228 3,967 4,435 4,826 5,704 5,955 Item (c ) (b) Sri Lanka Ports Authority Ports Sri Lanka South Asia Terminal Gateway Terminal Container International Colombo Authority Ports Sri Lanka South Asia Terminal Gateway Terminal Container International Colombo Authority Ports Sri Lanka South Asia Terminal Gateway Terminal Container International Colombo Authority Ports Sri Lanka South Asia Terminal Gateway Terminal Container International Colombo Port Services Port | Colombo Galle Trincomalee Port Mahinda Rajapaksa Magam Ruhunupura Colombo Galle Trincomalee Port Mahinda Rajapaksa Magam Ruhunupura & Karrainagar Pedro Point Myliddy, KKS, Colombo Galle Trincomalee Port Mahinda Rajapaksa Magam Ruhunupura & Karrainagar Pedro Point Myliddy, KKS, Table 20 Table Arrived * Vessels Handled Cargo Total Traffic Container Total ** Container Transshipment Authority) Ports (Sri Lanka Employment ***Authority) Ports (Sri Lanka Revenue Source: Sri Lanka Ports Authority Authority Ports Sri Lanka Source: Provisional (a) Units Container Equivalent TEUs=Twenty-foot (b) & Dredgers Fishing trawlers,Yatch Vessels, Naval Sailing craft, of * Excluding **Including Re-Stowing values. the 2017 actual from *** has been removed Hambanthota of purpose Port the comparison For in 1999. its operations commenced Terminal Asia Gateway The South
361 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (a) ,334,333 2,575,750 72 2,328,654 2,328,654 72 2,437,504 in population n.a n.a 1.8 1.8 1.8 1.8 1.9 1.9 2.0 2.0 2.0 2.1 2.1 2.1 8.4 8.2 7.6 7.2 6.7 6.4 6.1 5.8 5.7 5.2 5.0 4.7 4.3 4.0 76.0 77.0 78.0 80.0 81.0 82.9 84.1 88.7 84.6 86.0 87.8 89.3 90.6 91.9 0.98 1.00 0.99 0.94 1.00 0.99 0.98 1.01 1.00 1.11 1.00 1.03 1.05 1.10 31.0 31.0 32.0 34.0 37.0 40.0 42.4 43.5 43.7 44.3 45.9 47.7 49.2 50.5 51.8 % % % %% 51.8 34.4 53.2 33.1 54.0 32.1 53.1 31.1 52.0 31.6 50.0 30.4 49.2 29.9 47.7 30.2 46.6 28.5 46.2 45.7 27.3 43.1 25.55 25.98 41.7 40.6 24.93 24.95 Rs 300.9 305.7 290.9 412.7 438.2 437.7 473.9 557.0 570.7 547.9 632.5 610.6 615.26 625.3 No. 989,395 1,078,892 1,186,931 1,266,328 1,353,573 1,449,301 1,587,663 1,707,742 1,831,998 1,953,721 2,092,471 2,219,1 No. 8,335 8,848 9,006 9,063 9,018 9,199 9,670 9,953 10,483 10,245 10,352 10,338 10,046 9,725 Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Rs Mn 6,947 7,422 7,875 11,119 12,409 13,343 13,209 18,167 19,969 20,472 23,975 24,846 26,164 27,416 Rs.000' 587,222 741,554 880,770 946,918 1,066,353 1,160,719 1,331,254 1,440,848 1,607,839 1,774,605 1,934,313 2,077,083 2 Mn cumMn cum 398 261 425 284 440 299 449 309 470 322 490 342 525 368 547 381 575 411 600 436 649 483 686 508 707 531 746 560 Per 1000 Per population population population connections Item Water Supply and Sewerage Water | Island wide Island Colombo City Colombo Table 21 Table Water Pipe Borne to Access Water Safe Drinking to Access * Piped Sewerage to Access (per month)** Cost Average Household Bill (per Average month) Supply Connections Water Production Water Consumption Water Sales (Bill Revenue) Water Water Non- Revenue Employees Employees (Collection/ Efficiency Collection Billing) Source: National Water Supply and Drainage Board Supply and Drainage Water National Source: Provisional (a) with the increase coverage in Piped sewer an increase show enough to is not significant connections Pipe Sewerage of *Increased **This cost includes total operating expenditure, depreciation and interest of commissioned projects. commissioned of and interest **This depreciation expenditure, operating includes total cost Statistical Appendix
362 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 a (a) 7 1,244,549 7 95 1,268,649 1,055,218 ,603,178 ,603,178 2,484,616 2,299,767 631 28,199,083 32,528,104 32,884,009 Committee to address the “Social Cultural Problems in the Estate Sector”. These offices These offices Sector”. in the Estate Problems the “Social Cultural address to Committee earn sufficient income and lack of continued financial remuneration from the Ministry of the Ministry of from financial remuneration continued and lack of income earn sufficient tive subscribers tive 91,356 200,000 485,533 942,461 1,501,611 2,790,195 3,408,408 3,991,465 4,682,300 5,733,062 11,754,166 – – 58 7 7 4 4 7 4 4 4 4 4 4 4 4 158 159 159 159 111 156 156 101 101 101 101 101 101 101 637 637 641 645 647 649 648 651 651 653 653 652 653 653 653 463 480 488 494 491 512 516 497 524 524 524 523 307 307 36.7 36.7 53.6 71.9 86.6 100.8 105.1 116.9 112.4 119.6 128.7 135.7 143.6 161.5 161.4 7,561 7,561 8,526 7,417 7,378 7,054 6,458 6,983 6,788 6,642 5,809 5,297 5,137 2,135 476 3,409 3,410 3,408 3,410 3,410 3,410 3,411 3,410 3,410 3,410 3,410 3,409 3,410 3,409 974,184 974,184 1,810,322 2,512,875 2,563,838 2,637,865 2,666,612 2,450,037 1,644,722 1,586,722 1,472,905 1,384,084 1,404,6 909,894 909,894 931,737 933,536 872,120 896,710 941,780 999,354 1,062,065 1,123,126 1,128,291 1,166,348 1,198,483 1,215,96 No. No. 1,884,078 2,742,059 3,446,411 3,435,958 3,534,575 3,608,392 3,449,391 2,706,787 2,709,848 No. 2,601,196 2,550,432 5,412,496 7,983,489 2 11,082,508 14,264,442 17,246,567 18,319,447 20,324,070 20,315,150 22,123,000 24,384,544 26,227, No. 130,000 No. 202,348 234,000 No. 249,756 280,000 – 359,216 No. 3 423,194 507,845 4,046 606,100 4 682,512 4,051 929,089 No. 1,221,960 1,530,099 4,053 5 4,057 679 n. 4,059 8 646 4,058 654 9 4,062 4,061 657 20 4,063 606 4,063 19 675 4,062 15 4,062 676 4,063 15 602 4,062 629 15 629 13 629 8 628 7 412 412 6 No. of of No. Booths per 100 persons (b) (b) Item Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Wireline in Service Wireline Access Wireless Offices Main Post Offices Sub Post Agency Private Post Offices Offices Post Agency Rural Offices Post Agency Estate ** Fixed Access Access Services Fixed Offices Public Post Cellular Phones Cellular Density Telephone Phones) (Including Cellular Phones Public Pay and Email Internet Subscribers Mobile Broadband Subscribers * Providers Service Internet Offices Post Private Table 22 | Communications Table Telecommunication Postal * from 2014 Mobile Broadband definition has been changed. changed. been has definition Broadband Mobile 2014 Provisional Sri Lanka of Commission Regulatory Telecommunications and from Telecom Sri Lanka Posts, Department of Source: (a) ac of in the classification revision phones in 2013 is due to and cellular telephones Loop Local Wireless The decline in the (b) * made by the Presidential on recommendation Offices Post Agency Estate establish to started **was year project In 2002, a three business capacity(potential)to the overall expand to Agents the of the incapability 2006, due to function since to ceased were Offices” Post Agency the Estate of Agents the to Development and Livestock Infrastructure Estate
363 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 0 (b) 2019 18 61,740 61,740 18 00 161.00 161.00 00 5.00 137.00 137.00 5.00 40,823 132,309 40,823 2018 (a ) 2018 (a ties) ties) 15 42 50 61 74 75 92 101 85 Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Item L.P. GasL.P. Mt 000' 15 16 16 24 23 24 17 22 28 10 9 19 22 27 Super Diesel Mt 000' 9 14 9 9 12 Auto Diesel (d)Auto 000' Mt 1,633 1,752 1,606 1,681 1,663 1,985 2,054 1,705 1,947 1,779 2,143 2,194 1,987 2,139 Petrol (95 Octane) Petrol 000' Mt 24 31 29 22 22 35 40 55 69 100 137 168 189 158 Petrol (92 Octane)** Petrol 000' Mt 454 487 490 518 573 676 726 733 767 911 1,036 1,109 1,179 1,269 L.P. Gas L.P. Mt 000' 158 156 144 146 163 180 199 197 198 277 345 387 413 430 Refined Products (c) Products Refined 000' Mt 1,926 2,411 2,476 2,264 2,991 4,283 4,891 4,376 4,993 5,204 3,885 4,895 4,959 4,74 Crude Oil Mt 000' 2,151 1,968 1,853 2,066 1,819 2,070 1,486 1,743 1,824 1,763 1,685 1,591 1,674 1,842 Furnace Oil – 3500 Sec Furnace Rs/ltr 41.00 41.00 45.00 26.00 40.00 50.00 90.00 90.00 - 80.00 80.00 80.00 n.a n.a Furnace Oil – 1500 Sec Furnace Rs/ltr 43.30 51.70 25.00 32.70 40.00 50.00 90.00 90.00 90.00 80.00 80.00 80.00 92.00 96.00 Furnace Oil – 1000 Sec Furnace Rs/ltr 44.40 44.40 52.70 52.70 48.70 48.70 - - - - 80.00 80.00 n.a n.a Furnace Oil – 800 Sec Furnace Rs/ltr 45.80 53.90 33.90 32.90 42.20 52.20 92.20 92.20 92.20 82.20 82.20 82.20 92.00 96.00 Kerosene Rs/ltr 48.00 68.00 50.00 51.00 51.00 71.00 106.00 106.00 81.00 49.00 49.00 59.00 101.00 70.00 Super Diesel Rs/ltr 65.30 80.30 85.30 88.30 88.30 106.30 142.00 145.00 133.00 110.00 110.00 110.00 121.00 132.00 Auto Diesel Auto Rs/ltr 60.00 75.00 70.00 73.00 73.00 84.00 115.00 121.00 111.00 95.00 95.00 95.00 101.00 104.00 Petrol (95 Octane) Petrol Rs/ltr 95.00 120.00 133.00 133.00 133.00 155.00 167.00 170.00 158.00 128.00 128.00 128.00 149. Petrol (92 Octane)** Petrol Rs/ltr 92.00 117.00 120.00 115.00 115.00 137.00 159.00 162.00 150.00 117.00 117.00 117.00 12 Kerosene US$(bbl) 80.66 86.77 122.08 70.14 90.18 125.29 126.84 122.98 112.49 64.80 52.83 65.28 85.00 n.a Diesel US$(bbl) 78.06 86.10 122.01 69.77 89.97 125.34 127.37 121.50 112.10 64.58 52.05 64.64 82.88 n.a Petrol US$(bbl) 72.54 81.73 101.95 68.18 86.23 117.33 120.29 116.30 108.14 66.08 53.32 65.42 77.88 n.a o/w Excise Duty Excise o/w Rs Mn. 18,234 19,124 18,977 23,018 28,038 22,470 28,466 27,131 28,732 45,092 55,719 73,983 66,3 Oman* US$(bbl) 62.13 68.50 94.51 62.02 78.22 106.64 109.55 109.98 96.95 51.18 41.81 53.41 69.92 n.a Petroleum Tax RevenueTax Petroleum Rs Mn. 26,004 23,270 33,072 32,287 39,434 32,725 39,556 76,775 64,128 89,303 158,370 172,302 1 Dubai US$(bbl) 58.67 85.75 41.00 75.49 89.18 106.20 105.67 107.94 60.39 50.91 41.27 53.18 69.65 63.2 L.P. Gas L.P. Mt 000' 170 197 174 194 210 228 228 218 232 293 356 412 435 466 WTI US$(bbl) 62.00 91.36 41.44 74.49 89.22 98.61 88.19 97.90 59.10 49.28 54.76 51.30 64.99 56.96 Furnace Oil Furnace Mt 000' 912 986 999 1,110 1,117 1,222 1,322 827 915 630 817 1,040 949 1,011 Crude Oil Brent US$(bbl) 62.31 91.45 41.58 74.67 91.80 107.97 109.64 110.63 62.16 53.61 45.03 54.95 71.76 64.04 Kerosene Mt 000' 206 168 151 151 165 169 143 126 122 130 137 161 210 206 Domestic Production Local Sales Quantity Imported Domestic Prices (End Year) (End Domestic Prices Refined Products (Singapore Plattes)(Annual Avg) Plattes)(Annual (Singapore Products Refined Table 23 | Crude Oil and Petroleum Products 23 | Crude Oil and Petroleum Table Year) (End Prices International (c) Including Coal Imports Imports Diesel Coal XtraMile Including Including Revised (a) Average (b)Provisional (c) (d) *Annual **Including 3 Euro XtraPremium Source: Ceylon Petroleum Corporation, Central Bank of Sri Lanka and Energy Statistics on Index Mundi(www.indexmundi.com/commodi on Index Statistics and Energy Sri Lanka Bank of Central Corporation, Petroleum Ceylon Source: Statistical Appendix
364 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
(b) Octane Octane (c ) Octane (c Rs. 18 – Petrol 92 Rs. 18 – Petrol Rs. 35 – Petrol 95 Rs. 35 – Petrol Rs. 6 – Auto Diesel Auto Rs. 6 – Rs. 15 – Super Diesel Rs.13 – Super Diesel Rs.13 Rs. 2.85 – Auto Diesel Auto Rs. 2.85 – – – – – – –
– – – – – – 35 (a) Diesel (b) Rs. 10.55 – Super Rs. 10.55 Rs. 6 – Auto Diesel Auto Rs. 6 – Rs.13 – Super Diesel Rs.13 Rs. 5.85 – Auto Diesel Auto Rs. 5.85 – – – – – – – – – – – – – 15 (Rs. 35 (Rs. 11 duty 23 duty waived) waived) – – – – – – – – – – – – 15 – – – – – – – – – – – – duty waived) Rs.15(Rs.6 Rs.15(Rs.6 – – – – – – – – – – – – 35 35 35 duty waived) Rs.15(Rs.6 Rs.15(Rs.6 – – – – – – – – – – – – duty 23 duty waived) waived) waived) Rs.35 (Rs. Rs.15(Rs.13 Rs.15(Rs.13 – – – – – – – – – – – – duty 23 duty waived) waived) waived) Rs.35 (Rs. Rs.15(Rs.13 Rs.15(Rs.13 – – – – – – – – – – – – 555557.57.57.57.5 555557.57.57.57.5 555557.57.57.57.5 555557.57.57.57.5 – – Duty Duty Rs 35 Rs. 15 waived waived Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Duty Duty Rs 35 Rs. 15 waived waived ltr Rs. 14 5% or Ex Ex Ex Ex Ex Ex Ex Ex Ex 1– Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex 1 Ex– Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex ltr 5% or Rs. 24 – – – – 1 1 1.5 1.5 10 10 15 Free ltr Rs. 8 5% or 1 1 1.5 1.5– 10 10 15 Free– – – 1 1 1.5 1.5– – 10 10 15 Free– – 1 1 1.5 1.5– 10 10 15 Free– Ex 20 20 20 25 25 25 25 27 27 27 27 27 27 27 2.5 2.5 2.5 2.5 2.5 2.5 2.5 3 3 3 13 13 1.25 Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Free 20 20 16 Free Free Free Free Free Free Free Free Free FreeFree Free Free Free Free Free Free Free Free Free Free Free Free Free Free Free Free Free Free Free Free Free %1111 1 – %1111 1 – %2.53333 %2.53333 %2.53333 %1111 1 – %1111 1 – %2.53335 %1111 1 – %1111 1 – %1111 1 – %1111 1 – Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. per ltr per ltr per ltr per ltr per ltr per ltr per ltr per ltr Item Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Petroleum Products Tax Structure Tax Products Petroleum | Ports and Airports Development Levy (PAL) Levy Airports Development and Ports Ports and Airports Development Levy (PAL) Levy Airports Development and Ports (PAL) Levy Airports Development and Ports Ports and Airports Development Levy (PAL) Levy Airports Development and Ports Excise Duty Excise Duty Excise Value Added Tax (VAT)Tax Added Value Import Duty % Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Social Responsibility Levy (SRL) Levy Social Responsibility % – Surcharge % – Provincial Turnover Tax (PTT) Tax Turnover Provincial Nation Building Tax (NBT)Tax Nation Building % – Value Added Tax (VAT)Tax Added Value Import Duty % 15 15 15 5 Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Social Responsibility Levy (SRL) Levy Social Responsibility % Nation Building Tax (NBT)Tax Nation Building (SRL) Levy Social Responsibility % % – – (NBT)Tax Nation Building % – Surcharge % – Provincial Turnover Tax (PTT) Tax Turnover Provincial Value Added Tax (VAT)Tax Added Value Import Duty % Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Nation Building Tax (NBT)Tax Nation Building % – Social Responsibility Levy (SRL) Levy Social Responsibility % – Surcharge % – Provincial Turnover Tax (PTT) Tax Turnover Provincial Excise Duty Excise Duty Excise Value Added Tax (VAT)Tax Added Value Import Duty % Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Ex Surcharge (TT) Tax Turnover Provincial % Table 24 Table L.P.Gas Petrol Kerosene Diesel Source: Department of Fiscal Policy Fiscal Department of Source: 95 Octane for Petrol waive and No 92 Octane for Petrol waive Rs. 20 duty (a) for Super Diesel waive Diesel and No Auto for waive Rs. 3 duty (b) 95 Octane for Petrol waive and No 92 Octane for Petrol wave Rs. 17 duty (c) EX – Exempted Note: as at 31st December considered All prices
365 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (b) 2019 (a) n.a 43 76,781 76,781 76,781(d) 83,275(f) 76,824 77,964 82,604(c) 82,604(c) l HS Angoda, Rehabilitation HS Ragama, NIHS, STD Clinic Katugastota, BH NIHS, STD Clinic Katugastota, HS Ragama, Angoda, Rehabilitation l HS 46 47 56 75 92 100 105 94 93 101 98 137 n.a 140 n.a 115 135 161 172 186 197 206 210 221 225(e) 141 191 207 217 215 241 268 322 328 339 319 340 400 367 618 n.a 656 913 910 1,020 1,332 1,422 1,415 1,399 1,421 1,423 1,448 1,067 1,724 n.a 1,857 124 128 131 136 138 240 211 143** 128 203 84 204 n.a 2,415 969 980 1,054 1,112 1,196 1,225 1,317 1,329 1,386 1,495 895 1,626 n.a 1,819 340 336 385 464 477 485 534 536 531 551 421 610 n.a 617 848 849 879 1,022 1,209 1,230 1,110 1,279 1,324 1,391 1,416 1,473 n.a 1,348 604 619 612 555 568 592 593 603 601 610 610(d) 612 612 603 905 959 1,006 1,135 1,216 1,264 1,458 1,566 1,493 1,836 1,703 2,221 n.a 75 1,245 1,244 1,244 1,188 1,158 1,100 1,082 1,057 1,055 1,017 1,031 818 895 756 9,297 9,297 9,662 10,932 11,684 11,782 12,630 13,329 14,584 15,873 15,833 16,934 17,375 n.a 18,131 NoNo 397 61,835 66,430 387 66,835 68,905 69,501 417 69,731 73,437 461 79,945(c) 476 475 480 481 484 475 475(d) 496 (f) n.a 499 No.No. 20,912 22,088 No. 22,977 312 No. 7,165 26,351 No. 27,494 1,574 297 7,590 29,234 1,662 8,722 30,217 50 210 30,928 8,276 1,695 31,527 328 8,276 43 1,691 32,272 8,385 32,499 1,689 365 43 8,703 34,221 1,718 No. 34,714 326 9,120 1,644 51 37,451 7,091 9,164 364 1,713 7,129 9,021 50 331 1,867 7,184 8,842 8,358 1,664 56 6,086 n.a. 8,189 1,729 n.a 299 47 8,403 1,981 8,078 8,375 241 48 n.a 8,091 328 8,096 1,570 40 8,689 8,268(d) n.a 47 9,218 297 8,614 44 8,533 – No. 604 734 No. 747 12,419 716 12,842 14,192 740 15,165 15,503 778 16,464 17,190 790 18,486 19,873 809 20,280 21,168 22,091(f) 811 No. 831 n.a 2,485 22,725 2,488 835 2,756 769 3,251 3,509 803 3,553 1,309 3,694 3,699 3,773 3,995 2,848 4,715 (f) n.a 5,089 Item Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Medical Lab Technicians (MLTT) Technicians Medical Lab Therapists Occupational Administrative MOO Administrative Specialist MOO Medical Officers Dental Surgeons RMO/AMO Physiotherapists Radiographers Pharmacists Public Private Table 25 | Health Services Table Hospitals Dispensaries Central Beds Doctors Nurses (PHNS) Public Health Nursing Sisters (PHM) Public Health Midwives (PHI) Public Health Inspectors (HEOO) Officers Health Education Medicine (PSM) Supplementary to Professions Attendants Source: Ministry of Health and Indigenous Medicine Medicine Indigenous Hospitals and Public Health and of etc. Ministry Trainees Private Ministry Sisters, line Revised PGIM Provisional Only c) Source: Matrons, Including (a) Including (b) Government ( Including (d) (e) (f) (g) Menta HS Colombo, Fever Colombo, Staff Faculty Blood Bank Colombo, Anti Filaria Campaign, to Specialist MOO attached *Excluding Kalmunai South, BH Dehiattakandiya, DH Madirigiriya & BH Nikaweratiya & BH Nikaweratiya DH Madirigiriya South, BH Dehiattakandiya, Kalmunai ** employed Permanently Statistical Appendix
366 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 0 (b) 2019 (a) 2018 ademic Strikes in 2012. ademic Strikes 2 2 2 2 2 2 2 2 2 2 2 2 2 2 91 94 92 98 98 98 98 103 103 104 105 106 106 118 15 15 15 15 15 15 15 15 15 15 15 15 15 15 55 55 56 58 62 63 65 66 63 65 66 63 61 65 50 50 52 55 48 53 66 69 78 82 93 93 114 n.a 312 357 413 447 376 391 557 627 629 688 778 778 753 n.a 106 114 115 115 117 122 126 130 131 136 136 136 140 137 327 327 328 330 334 340 342 342 350 352 352 353 353 353 371 654 658 691 697 719 720 734 734 747 749 754 753 763 796 682 730 749 759 785 800 793 797 797 806 803 811 839 827 9,714 9,714 9,678 9,662 9,410 9,685 9,731 9,905 10,012 10,121 10,144 10,162 10,194 10,175 10,169 3,156 3,156 3,212 3,181 3,106 3,155 3,174 3,211 3,240 3,281 3,324 3,340 3,355 3,376 3,323 3,071 3,071 3,852 4,665 6,518 6,330 5,614 8,054 8,636 8,141 7,513 7,697 10,437 10,959 n.a 9,793 9,793 9,756 10,045 10,622 10,638 10,788 11,059 11,463 11,953 10,726 11,250 11,819 12,650 12,727 4,016 4,313 4,452 4,735 4,984 5,064 5,176 5,439 5,610 5,199 5,440 5,669 5,940 n.a 9,700 9,700 9,222 10,153 10,904 12,818 14,915 15,418 16,739 20,916 22,097 22,546 24,346 24,453 25,165 5,266 5,414 5,454 5,701 5,994 5,804 6,114 6,317 6,471 7,075 6,872 6,555 6,829 7,523 3,838 3,942 3,930 3,865 3,940 3,974 4,004 4,037 4,078 4,129 4,143 4,166 4,215 4,150 5,528 5,593 5,744 5,845 6,090 6,129 6,086 6,062 6,461 6,776 6,503 6,414 6,832 7,082 4,066 4,363 4,504 4,790 5,032 5,117 5,242 5,508 5,688 5,281 5,533 5,762 6,003 6,116 16,812 16,837 19,755 20,931 20,357 23,167 11,788* 20,880 28,357 29,545 29,035 26,179 26,024 n.a 68,588 71,257 69,491 71,471 73,398 77,657 70,222 77,126 83,539 87,085 87,741 91,905 93,787 95,920 204,645 209,197 212,116 213,126 214,562 219,886 223,333 223,752 232,990 236,999 235,999 241,591 247,334 243,365 No. 10,459 10,430 10,445 10,205 10,502 10,549 10,737 10,849 10,971 10,997 11,021 11,053 No. 11,044 215,439 220,204 11,083 223,314 224,672 226,646 231,819 235,533 236,131 245,922 250,850 249,374 254,560 No. 260,995 257,97 17 No. 78,600 80,836 17 80,057 82,822 86,592 No. 17 92,963 No. 16,598 86,197 94,492 13,859 17,196 105,084 17 109,870 20,069 14,119 111,065 20,846 117,029 14,549 21,547 118,993 17 121,085 15,412 22,016 29,009 15,670 24,444 15,905 17 25,200 16,301 25,676 29,337 16,971 17 30,953 17,641 31,451 16,007 16,783 17 n.a 17,581 18,506 17 n.a 17 17 17 17 17 No. 000' 3,999 4,111 4,101 4,038 4,119 4,159 4,195 4,234 4,272 4,330 4,345 4,365 4,415 4,351 Item Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 (a) (a) (b) UGC MoHE o/w National o/w National Provincial Lecturers Government Private Pirivenas Government Private Pirivenas Government Private Pirivenas UGC MoHE UGC OUSL MoHE Academic Academic Non First Degree Postgraduate Students Teachers Students Admissions New Employees Output* Graduate Schools Universities Table 26 | Education Table Education General Education University (a) Revised (a) Provisional (b) Source: Ministry of Education and Ministry of Higher Education and Ministry of Education Ministry of Source: Sri lanka of University OUSL-Open including OUSL Commission, Grants under the University – Universities UGC (a) OUSL excluding Commission, Grants under the University – Universities UGC (b) Higher Education under Ministry of Bhiksu University and Buddhasravaka University MoHE – Buddhist and Pali & Non ac academic faculties due to not been held in several have in 2012 as final exams has been decreased graduated * Number of
367 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
83 1,854,103 1,854,103 – – – – 338,692 353,826 – – 486,545 1,710,671 1,710,671 486,545 – – s. n.a. 1,256 1,510 1,710 1,815 n.a. 2,035 2,187 46 2,316 47 2,406 3,188 47 3,475 4,029 47 4,584 5,097 44 48 48 49 57 56 57 60 61 No. n.a 68 97 119 158 158 180 180 180 295 320 333 376 413 Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 (a) 2019 (b) Category State n.a. 392 490 625 664 740 787 871 894 1,033 1,181 1,561 1,891 2,162 Private n.a. 864 1,020 1,085 1,151 1,295 1,400 1,445 1,512 2,155 2,294 2,468 2,693 2,935 State 2 2 2 2 2 2 2 2 2 2 2 2 2 2 Private 9 9 9 9 9 10 10 10 11 11 11 11 11 11 State 630 633 637 640 640 654 675 1,356 1,361 1,366 1,377 1,373 1,376 1,392 State 175 191 229 239 270 280 287 390 541 546 595 600 602 603 Private 549 630 652 693 777 913 952 1,226 1,311 1,339 1,411 1,430 1,450 1,465 Private 204 218 219 226 230 235 240 255 111 78 88 91 94 94 State 1,955 2,566 2,910 3,077 3,101 3,160 3,265 2,610 2,610 2,610 2,303 2,386 3,055 3,525 State 194 202 203 215 236 251 251 167 175 175 27 28 – Private 341 328 346 375 422 450 462 254 261 260 253 253 254 258 Private 18 17 17 18 21 21 22 8 – – – Automated Teller Machines (ATMs) Teller Automated Machines (ATMs) Teller Automated Machines (ATMs) Teller Automated State 8 8 8 8 8 8 8 8 6 6 6 6 6 5 Private 6 6 6 6 1 1 1 1 3 1 1 1 1 1 Branches 39 43 44 44 46 49 49 221 221 220 53 52 51 50 Branches No. 379 409 448 465 500 515 527 645** 652** 624** 683 691 696 697 Branches 1,179 1,263 1,289 1,333 1,417 1,567 1,627 2,582 ** 2,672** 2,705** 2,788 2,803 2,826 2,857 Other Offices 23 133 170 170 170 171 171 – – - – Other offices 2,296 2,894 3,256 3,452 3,523 3,610 3,727 2,864*** 2,871*** 2,870***2,556*** 2,639*** 3,309*** 3,7 Other Offices No. 212 219 220 233 257 272 273 175 *** 175*** 175*** 27*** 28*** – Table 27 | Access to Banking and Finance to Access 27 | Table Insurance CompaniesInsurance No. 15 15 16 18 19 22 22 22 21 28 29 27 26 28 Specialized Banks (c )Specialized Banks (c No. 14 14 14 14 9 9 9 9 9 7 7 7 7 7 Domestic Commercial BanksDomestic Commercial No. 11 11 11 11 11 12 12 12 13 13 13 13 13 13 Registered Finance Companies Finance Registered No. 29 32 34 35 36 39 47 48 48 46 46 45 43 42 Specialized Leasing Companies No. 18 20 22 21 21 16 13 10 8 7 7 6 5 4 Foreign Commercial Banks Commercial Foreign No. 12 12 11 11 11 12 12 12 12 12 12 12 13 13 Credit Cards Issued Cards Credit No. 234,720 200,679 122,033 68,430 90,489 148,481 167,424 166,181 176,750 198,843 264,058 290,264 Credit Cards In Use Cards Credit No. 810,179 905,561 929,112 840,905 778,544 862,352 891,170 951,625 1,032,833 1,145,055 1,315,915 1, *** This includes Student Savings Units only. only. Units Units Savings Savings Student Student Revised excluding Provisional includes Sri Lanka of Board and Insurance Sri lanka Bank of Central Source: (a) outlets (b) banks. level and regional This classified as National level were 2013, specialized banks Upto (c) Bank Sanwardhana Pradeshiya bank, i.e. level with a new vested was Banks Development 6 Regional business of * During 2010, **All *** and student savings unit namely branches categories two into reclassified were Banking Outlets 01.01.2013 from with effect Note: Statistical Appendix
368 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (c)(e) 2019 (c ) 2018 (c) 2017 (c) 2016 (c) 2015 (c ) 2014 (c) 2013 (c) 2012 (c) age population. Hence, this table provides 2011,2012 and 2013 statistics considering considering 2011,2012 and 2013 statistics provides this table age population. Hence, 2011 (a) 2010 (a) 2009 (a) 2008 (d) 2007 2007 (d) 2006 Item Unit GCE A/L & Above & A/L GCE 000' 133 146 142 154 159 131 102 132 128 148 144 151 171 172 GCE O/L 000' 131 98 101 109 91 66 84 78 78 94 80 89 80 98 Grade 6 – 10 Grade 000' 207 183 170 188 140 128 116 129 131 132 129 108 113 129 Grade 5 & Below Grade 000' 23 20 19 20 11 10 8 14 11 10 10 11 8 12 Over 40 years Over 000' 48 46 46 55 42 28 34 43 39 45 36 45 35 57 30–39 years 000' 59 59 58 71 59 53 49 53 54 61 48 53 56 59 20–29 years 20–29 000' 300 272 260 277 240 211 184 208 206 222 221 215 229 242 15–19 years 15–19 000' 86 70 68 68 59 43 43 48 49 56 58 46 53 54 Female 000' 268 237 239 248 215 193 163 189 183 225 209 203 209 226 Male 000' 227 210 194 223 185 142 147 164 165 158 154 156 164 185 Services 000' 2,927 2,963 3,151 3,215 3,319 3,262 3,217 3,363 3,450 3,568 3,696 3,737 3,732 3,850 Industry 000' 1,888 1,871 2,003 1,905 1,865 1,820 1,942 1,997 2,027 2,018 2,098 2,331 2,239 2,258 Agriculture 000' 2,270 2,193 2,474 2,460 2,513 2,519 2,338 2,321 2,223 2,245 2,154 2,140 2,044 2,072 By Level of Education of Level By By Age Group Age By By Gender By Unemployment Rate Rate Unemployment % 6.5 6.0 5.4 5.9 4.9 4.2 4.0 4.4 4.3 4.7 4.4 4.2 4.4 4.8 Unemployment No. Unemployment 000' 492 446 433 471 400 335 310 353 348 383 363 359 373 411 Employed Population by Industry by Population Employed Labour Force Participation Rate Participation Labour Force % 51.2 49.8 49.5 48.7 48.1 52.9 52.5 53.7 53.2 53.8 53.8 54.1 51.8 52.3 Table 28 | Labour Force and Unemployment 28 | Labour Force Table Labour Force Labour Force Total 000' 7,576 7,473 8,062 8,051 8,096 7,936 7,808 8,034 8,048 8,214 8,311 8,567 8,388 8,592 Source: Department of Census and Statistics Statistics and districts included Census provinces Province Killinochchi are of Eastern Northern and districts Department and excluding Mullativu the Northern Data Excluding All Source: Excluding (a) Provisional (b) (c) (d) (e) working as population is considered age 15 and above age has changed and therefore working bound of year 2013 lower From Note: the new lower bound(for the purpose of comparison) bound(for the purpose of lower the new
369 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
(a) 00 53 25 51 8 15 21 34 42 38 51 41 32 51 18 413.00 413.00 474.00 561.00 627.00 669.00 729.00 823.00 900.00 955.00 1,029.00 1,131.00 1,257.00 1,350.00 1,409.00 391.00 391.00 456.00 562.00 615.00 658.00 704.00 787.00 882.00 937.00 1,056.00 1,148.00 1,245.00 1,383.00 1,493.00 416.00 479.00 558.00 617.00 657.00 729.00 824.00 903.00 958.00 1,034.00 1,131.00 1,249.00 1,335.00 1,410.00 421.00 421.00 479.00 590.00 652.00 699.00 783.00 887.00 997.00 1,061.00 1,114.00 1,182.00 1,284.00 1,374.00 1,456.00 249.00 249.00 277.00 377.00 416.00 463.00 490.00 585.00 652.00 702.00 742.00 786.00 870.00 955.00 989.00 629.00 629.00 727.00 837.00 935.00 995.00 1,093.00 1,216.00 1,304.00 1,376.00 1,450.00 1,596.00 1,785.00 1,994.00 2,109.00 333.00 333.00 375.00 440.00 496.00 543.00 617.00 691.00 764.00 819.00 887.00 952.00 1,085.00 1,242.00 1,277.00 633.00 633.00 732.00 844.00 932.00 1,002.00 1,115.00 1,248.00 1,334.00 1,406.00 1,486.00 1,622.00 1,795.00 1,990.00 2,107. 335.00 335.00 389.00 500.00 532.00 588.00 658.00 741.00 853.00 881.00 931.00 978.00 1,113.00 1,216.00 1,296.00 293.00 293.00 336.00 395.00 423.00 454.00 530.00 599.00 667.00 678.00 765.00 810.00 854.00 994.00 1,076.00 234.00 263.00 305.00 356.00 391.00 438.00 512.00 565.00 598.00 656.00 673.00 766.00 895.00 915.00 Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Rs.per day Rs.per day Rs.per day Rs.per day Rs.per day Rs.per day Item No. of Strikes of No. Female Female Female Skilled and Unskilled Skilled and Unskilled Male Male Male Male Carpenter Master Mason Master Table 29 | Average Daily Wages and Strikes and Strikes Wages Daily Average 29 | Table Cultivation Paddy Cultivation Tea Cultivation Rubber Cultivation Coconut Carpentry Masonary Strikes Source: Department of Labour and Central Bank of Sri Lanka Bank of and Central Labour Department of Source: Provisional (a) Statistical Appendix
370 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
Table 30 | Poverty and Inequality Survey Period Index Unit 1990/91 1995/96 2002 2006/07 2009/10 2012/13 2016 Poverty Head Count Index Sri Lanka % 26.1 28.8 22.7 15.2 8.9 6.7 4.1 Sector Urban % 16.3 14.0 7.9 6.7 5.3 2.1 1.9 Rural % 29.5 30.9 24.7 15.7 9.4 7.6 4.3 Estate % 20.5 38.4 30.0 32.0 11.4 10.9 8.8 District Colombo % 16.2 12.0 6.4 5.4 3.6 1.4 0.9 Gampaha % 14.7 14.1 10.7 8.7 3.9 2.1 2.0 Kalutara % 32.3 29.5 20.0 13.0 6.0 3.1 2.9 Kandy % 35.9 36.7 24.9 17.0 10.3 6.2 5.5 Matale % 28.7 41.9 29.6 18.9 11.5 7.8 3.9 Nuwara Eliya % 20.1 32.1 22.6 33.8 7.6 6.6 6.3 Galle % 29.7 31.6 25.8 13.7 10.3 9.9 2.9 Matara % 29.2 35.0 27.5 14.7 11.2 7.1 4.4 Hambantota % 32.4 31.0 32.2 12.7 6.9 4.9 1.2 Jaffna % – – – – 16.1 8.3 7.7 Mannar – – – – – 20.1 1.0 Vavunia % – – – – 2.3 3.4 2.0 Mullaitivu – – – – – 28.8 12.7 Killinochchi – – – – – 12.7 18.2 Batticaloa % – – – 10.7 20.3 19.4 11.3 Ampara % – – – 10.9 11.8 5.4 2.6 Trincomalee % – – – – 11.7 9.0 10.0 Kurunegala % 27.2 26.2 25.4 15.4 11.7 6.5 2.9 Puttlum % 22.3 31.1 31.3 13.1 10.5 5.1 2.1 Anuradapura % 24.4 27.0 20.4 14.9 5.7 7.6 3.8 Polonnaruwa % 24.9 20.1 23.7 12.7 5.8 6.7 2.2 Badulla % 31.0 41.0 37.3 23.7 13.3 12.3 6.8 Monaragala % 33.7 56.2 37.2 33.2 14.5 20.8 5.8 Rathnapura % 30.8 46.4 34.4 26.6 10.5 10.4 6.5 Kegalle % 31.2 36.3 32.5 21.1 10.8 6.7 7.1 Poverty Gap % 5.6 6.6 5.1 3.1 1.0 1.2 0.6 Squared Poverty Gap % 1.8 2.2 1.6 0.9 0.5 0.30 0.10 Average Poverty Shortfall 101 191 317 448 587 607 620 (Rs./Month) Gini Coefficient of Per Capita Expenditure 0.32 0.35 0.40 0.40 0.36 0.39 0.40 Gini Coefficient of Household Expenditure – 0.36 0.41 0.41 0.37 0.40 0.41 Gini Coefficient of Household Income 0.43 0.46 0.47 0.49 0.49 0.48 0.45 Quintile Ratio % 4.7 5.3 6.9 6.7 5.7 12.0 11.8
Source: Department of Census and Statistics Household Income and Expenditure Survey 1990/91 (excluding Northern and Eastern provinces) Household Income and Expenditure Survey 1995/96 (excluding Northern and Eastern provinces) Household Income and Expenditure Survey 2002 (excluding Northern and Eastern provinces) Household Income and Expenditure Survey 2006/07 (excluding Northern province and Trincomalee district) Household Income and Expenditure Survey 2009/10 (excluding Mannar, Mullaithivu and Killinochchi districts) Household Income and Expenditure Survey 2012/13 (covered all districts) Household Income and Expenditure Survey 2016 (covered all districts)
371 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (b) 2019 (a) 3,499 5,326 6,015 4,932 4,180 3,467 3,412 3,977 4,847 3,926 3,297 2,770 2,950 – 52 75 90 100 144 206 263 288 316 391 174 394 407 376 22 2022 23 2522 28 32 23 35 40 29 41 58 30 48 51 35 58 90 41 63 83 66 63 91 58 398 98 63 50 109 63 35 107 58 27 154 57 134 21 13 28 33 55 57 82 103 132 147 161 161 51 172 154 175 411 500 525 603 724 885 1,071 1,160 1,270 1,222 1,282 1,311 1,312 1,263 119 105 114 127 140 154 174 186 204 209 210 208 182 161 110 135 175 203 247 401 509 557 611 698 333 824 849 826 143 135 128 148 177 232 275 308 337 307 739 330 309 282 2,161 2,502 2,918 3,330 4,116 5,145 5,985 6,407 7,018 6,980 7,242 7,164 7,015 6,717 7,911 7,911 4,551 6,791 6,719 7,923 9,906 16,184 26,561 29,267 12,501 10,862 9,271 10,021 9,163 1,234 1,451 1,745 1,995 2,474 3,030 3,358 3,562 3,902 3,769 3,889 3,711 3,592 3,459 1,713 1,713 1,653 2,835 2,832 3,057 3,844 4,448 5,151 5,372 6,251 6,578 6,379 7,210 9,860 6,638 3,962 8,667 6,388 6,884 6,134 9,280 16,510 20,778 6,951 8,234 7,127 7,748 5,725 99,711 99,711 102,355 107,923 113,678 112,752 107,491 119,011 96,900 88,628 73,226 65,015 55,884 64,938 61,569 40,912 40,912 52,176 59,239 50,173 60,422 63,680 62,907 70,977 79,519 77,985 71,656 61,054 51,719 51,200 45,063 45,063 50,263 59,718 61,321 71,537 67,726 67,150 73,707 73,162 81,682 76,545 68,980 67,053 62,719 201,948 201,948 218,459 250,499 247,126 267,507 262,961 282,447 293,218 300,703 263,443 242,816 211,992 211,459 203,186 Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Item By Country By Middle East Union European Other Europe, Asia East America North America South and Central Asia South East Asia South Zealand and New Australia Other Professional Middle Level Clerical and Related Skilled Semi Skilled Unskilled Housemaid Female Table 31 | Remittances and Departures for Foreign Employment Employment for Foreign and Departures 31 | Remittances Table Remittances Total US$ mn DeparturesTotal No. Source: Sri Lanka Bureau of Foreign Employment and Central Bank of Sri Lanka Bank of Employment and Central Foreign of Bureau Sri Lanka Source: Revised (a) Provisional (b) Statistical Appendix
372 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
(b) 209 ,966 ,966 2019 – – Rs.Million (a) – – 6 43,440 54,148 – 26,772 26,772 27,808 30,359 33,637 487 869 1,318 1,451 – – – – –
– – – 297 313 458 46 – – – – – – – 722 722 1,308 1,649 2,251 2,475 2,631 2,790 3,077 3,725 3,938 3,916 4,434 5,325 5,063 755 990 680 1,060 1,805 1,629 1,440 1,789 228 7,480 242 – Description 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Tea Rubber Coconut Cashew Pepper) Coffee, Cocoa, – (Cinnamon, Minor Crops 79 134 117 175 180 188 176 220 270 199 193 185 179 22 232 275 207 222 23 200 211 254 237 35 371 191 360 269 485 34 171 380 293 435 182 336 25 353 587 440 272 403 29 763 331 485 – 27 2,871 7,292 471 713 49 549 709 703 445 40 598 542 615 35 653 564 556 472 40 54 67 70 No. of Ben fisheries (Families Mn) Ben fisheries (Families of No. 1.9 1.8 1.6 1.6 1.6 1.5 1.5 1.4 1.5 1.4 1.4 1.4 1.4 1.8 Commercial Crop Development Crop Commercial Pharmaceuticals (free medicine) (free Pharmaceuticals 11,379 10,804 12,082 12,149 13,544 16,617 16,740 27,269 34,805 31,703 38,028 38,59 Paddy Purchasing (To Stabilize the Paddy Prices) Stabilize the Paddy (To Purchasing Paddy Nutrition Program Samurdhi Samurdhi 10,789 9,200 9,995 9,267 9,241 9,044 10,553 15,256 15,042 39,994 40,740 39,707 39,239 44,460 School Uniforms 963 1,067 582 1,260 950 1,364 2,218 2,300 3,574 2,261 2,157 2,479 1,073 3,789 Season Tickets Season 250 500 600 1,384 1,369 1,359 1,233 1,430 1,695 1,800 1,998 4,923 5,000 5,500 Assistance to Elderly (Over 70yrs age) 70yrs Elderly (Over to Assistance 648 326 922 960 650 950 554 2,045 2,655 8,039 9,060 9,008 9,590 9,856 School and Dharma School Text booksText School and Dharma 1,123 2,250 3,387 2,196 2,056 2,337 2,127 2,583 2,773 3,979 5,599 4,476 157 Daily Allowance for Differently Abled Students for Differently Allowance Daily 50 71 70 74 71 80 80 123 138 220 247 195 31 26 Grade v Scholarships, Mahapola and Bursary v Scholarships, Mahapola Grade 235 201 565 578 645 777 790 801 852 1,390 1,914 1,344 2,136 2,700 Allowance for Differently Abled People for Differently Allowance n.a. 43 75 74 75 394 403 513 479 936 1,114 1,083 43 41 Financial Supports for kidney patients Financial Supports for kidney – Allowance for the Third Child of Soldiers Child of Third for the Allowance – Death and Differently Abled Soldiers Compensation Death and Differently 5,921 7,426 8,694 9,796 10,500 13,316 14,779 16,152 18,244 23,433 Fertilizer Subsidy Fertilizer 10,700 11,000 26,450 26,935 23,028 29,802 36,456 19,706 31,858 49,571 27,771 30,361 26,879 34 Table 32 | Welfare Payments and Development Subsidies and Development Payments Welfare | 32 Table Healthcare Subsidy Crop Empowering the Vulnerable and Needy Vulnerable the Empowering School Children and University Students and University School Children Empowering Government Security Forces Government Empowering Agriculture Development Agriculture
373 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
(b) 2019 – 2,187 2,187 – – – – (a) – Rs. Million – – – -14,735 -7,697 – 5,000 5,000 5,004 5,500 – – – 252 2,977 738 -580 -1,717 – – – – – 15,737 – 14,499 -49,231 -30,458 -85,411 – – – – – – – – – 578 –
– 19,266 61,164– – 11,085 7,717 20,295 85,165 89,656 7,969 – 19,468 69,620 3,504 -106,143 -11,835 200 598 208 257 182 169 276 300 289 321 219 – 13 35 167 178 249 205 230 197 189 106 167 256 327 259 357 – – 25 22 24 30 30 18 17 19 21 49 30 – 82 418 386 505 388 360 249 203 279 2,422 5,746 5,408 5,490 5,279 74,835 74,835 83,520 133,829 106,941 103,489 198,751 255,421 117,063 159,037 228,766 272,686 150,084 34,516 106,071 Description 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Thriposa for Children and Expectant MothersThriposa for Children Malla for Expectant Mothers Poshana Manpetha and Lama Saviya Poshana 537 488 649 1,155 865 1,336 1,189 1,396 1,787 1,956 1,351 1,692 1,982 Morning Milk for Pre-school and school Children and school Children Morning Milk for Pre-school – Flood and Drought Relief Flood and Drought 171 345 323 738 264 649 153 148 521 271 132 5,854 5,279 375 Cooked Meals and Dry Rations Cooked 2,586 1,670 1,457 2,859 1,000 199 54 32 28 118 111 – Water for Religious Places for Religious Water 45 30 46 144 42 46 49 47 50 50 – Petroleum (Ceylon Petroleum Corporation) Petroleum (Ceylon Petroleum 946 – Kerosene – Electricity (Ceylon Electricity Board)Electricity (Ceylon 14,176 22,314 33,870 7,440 – Water 214 1,278 2,915 1,417 5,955 – Railway 3,981 4,298 4,553 4,768 3,173 4,060 3,796 5,163 11,034 7,714 6,773 7,595 n.a n.a Sri Lanka Transport BoardTransport Sri Lanka 2,542 2,312 6,261 8,026 827 3,307 4,287 4,333 6,351 5,229 3,617 1,617 1,295 1,555 SLTB Transport Facilities – Uneconomical Routes – Uneconomical Facilities Transport SLTB 4,360 3,159 3,736 2,332 2,460 1,922 2,184 2,335 4,770 4,975 4,999 Transportation Facilities for Armed Forces for Facilities Transportation – Street Lighting Street 900 1,000 1,300 204 360 123 – Table 32 | Welfare Payments and Development Subsidies and Development Payments Welfare | 32 Table Disaster Assistance Disaster Assistance to Religious Places Religious to Assistance Losses of Public Enterprises Losses of Transport Facilties Transport Common Facilities Common Total Total Source: Department of National Budget, Department of Treasury Operations and Department of Public Enterprises and Department of Operations Treasury National Budget, Department of Department of Source: Revised (a) Provisional (b) Statistical Appendix
374 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019
(a) 856 70,269 70,269 6 690,716 690,716 6 819 1,592,212 1,592,212 819 1,481 1,441,462 1,481 2018 2019 223,916 200,496 27,580 22,799 – – – – – – – – – – – 10 10 10 9 10 10 10 9 10 10 10 11 11 10 410 410 384 342 349 575 830 1,038 1,715 2,431 2,981 3,519 3,925 4,381 3,610 83.4 79.1 76.7 81.8 88.0 98.0 103.0 156.5 160.8 164.1 168 170 174 181 756,735 756,735 862,011 966,337 962,786 1,122,212 1,239,290 1,268,792 1,261,711 1,311,063 1,356,411 1,447,786 1,439,429 1,47 559,603 494,008 438,475 447,890 654,476 855,975 1,005,605 1,274,593 1,527,153 1,798,380 2,050,832 2,116,407 2,333,796 1,913,702 Mn No. No. No. No. US$ US $ Item Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Rooms 14,218 14,604 14,793 14,461 14,714 14,653 15,510 16,223 18,510 19,377 22,336 23,477 24,757 24,831 North AmericaNorth 35,688 28,338 23,203 25,044 40,552 53,658 59,236 65,616 72,653 91,956 98,376 105,297 129,492 119,681 Beds* 27,117 27,500 28,698 28,344 28,978 28,844 30,880 32,284 36,883 38,479 45,509 48,550 52,237 52,393 Latin America & the CaribbeanLatin 805 4,104 3,721 666 594 1,167 1,626 3,166 3,202 5,698 5,625 5,560 8,134 7,742 Western EuropeWestern 228,666 195,813 165,822 170,186 255,172 320,431 373,063 421,037 498,758 599,415 643,333 680,901 840,95 Eastern EuropeEastern 14,236 25,485 29,352 26,177 35,630 51,922 72,401 125,695 141,984 125,284 161,171 161,967 176,905 196, Middle East 10,191 13,587 16,701 23,821 37,501 36,376 56,169 80,509 88,654 101,676 107,635 95,581 71,636 44,143 Africa 3,163 2,991 2,354 1,591 2,249 6,736 5,045 8,081 10,674 14,473 12,144 12,703 14,873 15,094 Asia 241,954 200,697 175,944 174,382 245,753 334,274 380,289 509,653 640,045 787,483 938,697 962,395 966,731 734,056 Australasia 24,900 22,993 21,378 26,023 37,025 51,411 57,776 60,836 71,183 72,395 83,851 92,003 125,069 105,414 Leisure 377,093 331,238 321,079 358,188 516,538 687,830 748,436 915,158 1,037,644 1,198,240 1,710,027 1,744,149 1,979, Private & Official Business & Official Private 99,404 52,116 37,261 38,473 83,270 68,436 90,040 67,553 4,616 6,705 37,121 77,086 76,702 Convention & MeetingsConvention 17,009 7,620 5,867 6,262 6,350 14,681 22,220 26,766 4,495 5,240 16,652 27,455 29,048 18,865 Visiting Friends & RelationsVisiting Friends 42,617 40,968 36,304 23,122 35,386 70,531 117,520 164,422 419,266 458,411 236,127 237,874 Religious & CulturalReligious 9,561 13,902 11,523 9,127 5,150 2,321 22,371 65,004 200 1,202 390 281 168 484 Sports & Health – Other 13,919 48,164 26,441 12,718 7,782 12,178 5,018 35,689 60,932 128,582 50,515 1,982 1,334 (b) 31376 Table 33 | Tourism 33 | Table Nationality of Country by Arrivals Tourist (Classified/ Capacity Hotels Accommodation unclassified and Boutique Hotels Foreign Travel by Sri Lankans (Departures) Sri Lankans by Travel Foreign Tourist Arrivals by Purpose of Visit * Purpose of by Arrivals Tourist Official Tourist Receipts * Receipts Tourist Official Receipt Per Tourist Per Day * Per Tourist Per Receipt Average Duration (Nights)* Duration Average
375 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 2 (a) 1 64,877 1 5 856,804 5 106 226,651 106 695 331,888 695 096 730,854 730,854 096 2018 2019 82.7 133.1 134.3 201.7 410.1 470.2 480.7 550.9 745.7 813.9 841.1 729.0 698.8 477.8 839.4 741.0 738.8 766.3 1,000.1 1,041.7 1,161.6 1,604.9 1,779.8 1,968.5 2,355.4 2,378.8 2,824.9 2,089.2 400.9 279.8 307.5 402.8 743.5 998.2 1,330.7 1,727.0 2,178.0 2,496 3,363.3 3,774.4 4,200.1 3,288.1 44,210 66,560 69,119 72,267 123,162 253,896 279,045 314,871 369,858 435,151 594,297 640,043 673,428 537,092 99,551 85,733 84,420 103,993 227,249 301,009 468,098 578,459 831,388 1,011,583 1,445,966 1,730,718 2,138,490 1,827,751 6,522.5 4,190.9 3,340.6 4,636.4 9,868.6 14,200.0 16,842.5 14,982.0 831,587.0 1,011,585 33,636 50,210 76,035 56,47 Mn Mn Mn Rs. Rs. Rs. Rs. Rs. Rs. '000 '000 '000 Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Item Tourism Development Levy Development Tourism Visitors Foreign Number of Visitors Foreign Number of 177.5 214.3Visitors Foreign Number of 344.5 13,771 405.2 9,040 516.9 7,353 10,244 Visitors Foreign 653.5Number of 22,061 138,232 31,096 809.4 104,583 37,305 1,044.2 112,190 1,005.6 44,751 109,404 454,053 1,014.8 Visitors Foreign Number of 197,947 558,521 239,920 1,276.8 178,902 59,982 592,980 1,541.5 155,310 504,699 68,107 1,482.1 153,934 627,136 722,676 149,833 8,55 924.2 905,333 249,556 978,606 284,898 980, 150,138 287,485 305,860 113,759 348,842 393,064 117,751 123,425 415,776 369,685 210,949 373, 84,198 237,763 259,572 58,258 293,454 345,468 54,323 407,553 70,688 465,405 440,270 143,198 463, 198,536 254,052 325,153 454,053 558,521 783,203 934,633 1,100,43 Revenue from Sale of Tickets Sale of from Revenue Tickets Sale of from Revenue Tickets Sale of from Revenue Embarkation Tax on Tourists Tax Embarkation Foreign Revenue from Sale of Tickets Sale of from Revenue Tickets Sale of from Revenue Table 33 | Tourism 33 | Table Tourism from Revenue Museums Triangle Cultural Zoological Gardens Botanical Gardens Wild Life Parks Source: Sri Lanka Tourism Development Authority Authority Development Tourism Sri Lanka Source: Provisional (a) Ayurvedic Including Sports, Health & (b) * Estimated classification visit” as per the new by purpose of 2014, Since on “tourist arrivals Note: data Statistical Appendix
376 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (b) 2019 (a) 279 41,951 41,951 279 2,853 2,619 0.09 0.07 n.a 2,861 2,858 n.a
45.6 82.0 112.7 102.6 107.9 109.1 105.0 133.2 131.7 119.2 % 27.1 27.7 28.2 31.3 32.8 33.7 40.0 44.5 35.6 36.2 35.0 40.0 39.0 n.a Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Item Milk RequirementYear per Mn. Ltrs 725.6 730.4 738.0 746.4 753.7 767.0 742.0 740.0 937.7 1,035.0 1,166.5 1,206.6 1,264.0 n.a Domestic Production Mn Ltrs. 196.6 202.0 208.0 233.3 247.5 258.3 299.3 329.2 333.9 374.4 453.8 482.7 494.9 422.0 Production Gap Production Mn Ltrs. 529.0 528.4 530.0 513.1 506.2 508.7 442.7 410.8 603.8 631.6 712.6 723.9 769.0 n.a Chicken Requirement Chicken per year Mt'000 253.8 256.5 261.1 261.2 263.8 266.6 259.7 261.7 148.7 165.0 174.1 201.1 214.3 n.a Domestic Production Mt'000 85.3 100.1 102.5 99.3 104.2 116.8 137.4 144.5 150.3 164.5 173.83 201.0 214.2 225.0 Production Gap Production Mt'000 168.6 156.5 158.6 162.0 159.6 149.8 122.3 117.2 - – – Egg Requirement Egg Year Mn. per 3,626.3 3,664.6 3,730.3 3,732.1 3,768.6 3,809.0 3,710.0 3,738.0 2,231.0 2,202.5 2,201 Domestic Production Mn. 1,243.0 1,252.0 1,380.0 1,099.0 941.0 1,185.3 2,278.7 1,636.8 1,721.0 1,899.0 2,201 2,856 Production Gap Production Mn. 2,383.3 2,412.6 2,350.3 2,633.1 2,827.6 2,623.7 1,431.3 2,101.2 510.0 303.5 0.0 4.6 5.6 n.a Mutton Mutton Year per kg 0.1 0.1 0.1 0.1 0.1 0.1 … 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Cattle '000 No. 1,215 1,223 1,196 1,137 1,170 1,192 1,254 1,169 1,105 1,088 1,366 1,400 1,463 1,528 PorkYear per kg 0.1 0.1 0.1 0.1 0.1 0.3 0.4 0.3 0.3 0.3 0.4 0.4 0.5 0.4 Buffalo '000 No. 314 319 440 372 423 405 415 381 321 323 426 445 458 472 BeefYear per kg 1.4 1.3 1.1 1.1 1.1 1.7 1.7 1.8 1.6 1.5 1.5 1.4 1.3 1.4 Goat/Sheep '000 No. 395 405 387 385 381 384 394 341 307 317 470 513 523 549 Swine '000 No. 92 94 89 81 84 82 89 81 105 70 125 155 190 142 Chicken Chicken '000 No. 13,117 13,779 14,331 13,615 14,018 14,199 14,039 16,647 16,630 16,744 36,720 41,000 40,645 39,260 Milk Mn Lt. 197 202 208 233 248 258 299 329 334 374 454 483 495 422 Chicken meat Chicken Mt '000 85 100 103 99 104 117 137 145 150 164 174 201 214 225 Eggs Eggs Mn 1,243 1,252 1,380 1,099 941 1,185 2,279 1,637 1,721 1,899 2,201 2,856 2,853 2,619 Mutton Mutton Mt 1,700 1,600 1,400 1,500 1,700 1,790 1,600 1,840 1,340 1,350 1,400 1,740 1,630 1,880 Pork Pork Mt 11,500 11,700 11,100 10,120 10,435 9,800 7,030 7,040 7,080 7,018 7,280 7,890 10,470 7,802 Domestic Demand – Milk Domestic Demand – Chicken Domestic Demand – Egg MilkYear per LME L 9.9 10.1 10.3 11.4 12.0 12.4 14.7 16.1 16.1 17.9 21.4 22.5 23.1 19.5 Chicken Meat Chicken Year per kg 4.3 5.0 5.0 4.9 4.9 5.7 6.8 7.1 7.2 7.8 8.3 9.4 9.9 10.3 Eggs No. per Year 62.6 62.4 67.5 53.7 per No. Eggs Table 34 | Livestock Sector 34 | Livestock Table Population Livestock Total 15,133 15,820 16,444 15,591 16,076 16,262 16,191 18,619 18,468 18,542 39,108 43,513 43, Total Production Total Domestic Demand Domestic Production / Domestic Production Ratio Req. Total Per Capita Availability Capita Per
377 Appendix Statistical MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (b) 2019 (a) 83,818.0 83,818.0 69,452.0 71,026.8 86,327.5 99,593.4 98,864 104,862 98,838 39,023.0 39,023.0 37,572.0 44,307.7 34,087.9 36,338.2 48,145 54,002 55,647 88,129.0 88,129.0 38,192.0 38,192.0 29,029.4 29,029.4 65,376.1 65,376.1 63,873.5 75,482.6 Mt 479.3 1,199.9 2,617.1 989.9 1,235.7 1,952.1 845.0 352.5 354.0 591.6 252.6 280 301 235 Mt 65,840.3 61,241.8 Mt 450.0 415.9 293.1 269.7 284.9 169.2 338.0 385.5 350.3 502.7 485.2 545 517 907 Mt 48.8 60.3 37.7 0.5 0.2 0.3 0.9 0.1 2.6 … 0.6 50 118 144 Mt 67.5 23.7 30.1 22.0 28.9 61.1 27.5 36.0 36.1 50.7 72.4 151 139 121 Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Rs. Mn 16,254.0 19,306.2 30,849.0 18,608.7 Rs. Mn 32.7 88.7 228.9 85.2 149.7 300.1 148.0 112.0 99.2 129.4 99.6 167 162 121 Rs. Mn 116.6 116.4 93.0 58.3 82.2 72.9 200.3 172.8 165.7 218.9 213.7 236 218 369 Rs. Mn 6.2 27.6 21.1 0.4 0.5 0.4 0.8 0.1 0.5 0.1 0.4 31 73 103 Rs. Mn 29.0 23.1 25.6 16.9 12.7 52.3 24.2 28.5 28.8 39.7 80.2 141 174 111 Item Poultry and Poultry Products Products and Poultry Poultry Milk and Milk Products Milk and Products Mutton and Mutton Products Products and Mutton Mutton Pork and Pork Products Products and Pork Pork Beef and Beef Products Products and Beef Beef Table 34 | Livestock Sector 34 | Livestock Table Imports Source: Department of Census and Statistics, Department of Animal Production and Health and Central Bank of Sri Lanka Bank of and Health Central Animal Production Department of and Statistics, Census Department of Source: … negligible Revised (a) Provisional (b) Statistical Appendix
378 MINISTRY OF FINANCE, SRI LANKA | ANNUAL REPORT 2019 (a) 3,404 2019 90,340 90,340 114,900 6,035 6,035 17,434 16,312 138,430 141,080 18 46,890 51,892 50,070 1,576 1,455 1,417 1,281 1,189 180,450 183,870 182,830 189,720 190,350 172,910 – 177,950 177,950
,310 52,301 62,524 61,354 68,6 159,680 159,680
162,920 162,920
129,840 129,840 109,310 109,310 112,760
102,560 71,740 71,740 77,830 93,240 97,690 100,120 112,295 61,320 146,630 157,982 126,390 145,620 121,360 150,110 165,320 180,410 202,420 222,350 257,540 267,980 278,850 269,020 274,160 259,720 249,020 242,580 38,819 38,383 39,049 40,245 48,134 53,476 54 215,980 215,980 252,670 274,630 293,170 332,260 385,270 417,220 445,930 459,300 452,890 456,990 449,440 439,370 415,490 251,270 251,270 291,050 319,120 339,730 384,670 444,830 484,810 512,840 535,050 520,190 530,920 531,310 527,060 505,830 MT MT Unit 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 No. Item | Fisheries Sector Coastal and Deep Sea Offshore 94,620 Marine Fish Catch AquacultureInland and 35,290 38,380 44,490 46,560 52,410 59,560 67,590 66,910 75,750 67,300 73,930 81,870 87,690 High Seas Boats Multi Day Boats One Day Boats 6–8 m FRP Out Board BoatsTraditional Motorized Boats (b)Traditional Non-Motorized Boats Beach Scene 11 2,394 2,454 10 16,347 2,529 16,685 1,842 16,640 15,016 2,604 907 13 17,178 2,188 15,016 2,679 1,085 18,243 15,016 26,000 2,213 3,843 21,650 15,016 22,800 1,110 19 22,890 2,238 3,950 20,566 23,160 29,325 2,263 1,135 26,859 23,134 4,111* 23,982 2,960 32,291 26 24,882 1,160 4,447* 1 2,340 26,136 22,394 1,120 3,456 2,514 29 24,132 2 3,833 2,720 890 130 2,779 2,179 633 802 4,601 2,248 990 4,885 2,185 876 – 2,206 990 2,045 789 990 835 990 868 984 918 1,040 1,174 948 1,174 1,613 1,820 1,212 1,320 1,287 Fish for Dry or Smoking Table 35 Table Boats) (Total Fishing Fleet Capacity Annual Fish Production Source: Ministry of Fisheries and Aquatic Resources Resources Aquatic Fisheries and Ministry of Source: Provisional (a) boats. driven water Boats includes both marine and fresh Traditional nonmorotorized 2014 number of from (b) * Including High Sea Boats
379 Appendix Statistical ISBN 978–955–0814–28–2
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